Ricky Ponting resigns as Australia captain

Ricky Ponting has resigned as captain of Australia's Test and one-day teams, but intends to continue playing.

Ponting, 36, made the announcement in Sydney after arriving home from the Cricket World Cup, where his team were soundly beaten by co-hosts India at the quarter-final stage.

"I have decided to stand down as captain of the Test and one-day teams as of now," he told a news conference.

Michael Clarke is favourite to replace Ponting as captain.

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