Local shares fell hard today, led by the energy sector.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.9% at 5108 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.9% to 5158 points
- AUD/USD at US 72.28 cents
- Iron Ore at US$39.06 a tonne, according to the Metal Bulletin
- Gold at US$1,072.38 an ounce
- Brent oil at US$40.92 a barrel
After the iron ore price fell 2.4% overnight and the Brent oil price collapsed 4.9%, the ASX was destined for a painful day. Shares opened significantly lower and at no stage looked likely to rebound into the black.
The energy sector was the hardest hit for the day. The Santos Ltd (ASX: STO) share price fell 13.1%, Woodside Petroleum Limited (ASX: WPL) fell 4% and Oil Search Limited (ASX: OSH) lost 16.4%. Oil Search was the market's worst performing share for the day.
In terms of its weighting on the broader index, BHP Billiton Limited (ASX: BHP) was the market's biggest casualty, shedding 5.2% and ending the day at just $17.05. Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) also fell 4.3% and 3%, while South32 Ltd (ASX: S32) closed 8% lower.
Australia and New Zealand Banking Group (ASX: ANZ) was the worst from the banks, losing 1.7%, while Woolworths Limited (ASX: WOW) also fell 0.9%.
Slater & Gordon Limited (ASX: SGH) shares had another shocking outing, losing 12.6%, while Spotless Group Holdings Ltd (ASX: SPO) produced a surprise 7.5% gain.
Here are Tuesday's top articles:
- CRUSHED: Why the BHP Billiton Limited share price crashed today
- Why the Oil Search Limited share price sank 16% today
- A mindless herd of bison
- Why Santos Ltd's share price is getting crushed today
- Will Clydesdale cost National Australia Bank Ltd. shareholders billions?
- Why the Spotless Group Holdings Ltd share price soared today