Market Wrap: Not a Happy New Year for the ASX

Local shares started 2016 off on the back foot, sliding deeper into the red.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.5% to 5270 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.4% to 5322 points
  • AUD/USD at US 72.24 cents
  • Iron Ore at US$43.57 a tonne, according to the Metal Bulletin
  • Gold at US$1,065.11 an ounce
  • Brent oil at US$38.16 a barrel

It was a topsy-turvy day for the local share market today. After falling immediately after the opening bell, shares managed to climb into positive territory but ultimately ended the first session of the year lower.

All four of Australia’s big four banks closed lower, acting as a heavy weight on the wider bourse. Westpac Banking Corp (ASX: WBC) was the worst of the majors, sliding 1.7%, while Australia and New Zealand Banking Group (ASX: ANZ) also dropped 1.4%.

Woolworths Limited (ASX: WOW) fell 1.4% for the day, and BHP Billiton Limited (ASX: BHP) slid 0.3%.

SEEK Limited (ASX: SEK) and Sydney Airport Holdings Ltd (ASX: SYD) were among the other heavy fallers, losing 2.3% and 2.4%, while Sundance Energy Australia Ltd (ASX: SEA) bucked the trend, rising 11.8%.

Here are Monday’s top stories:

  1. Dick Smith Holdings Ltd investors could be in deep trouble
  2. What the Dubai skyscraper fire means for Martin Aircraft Company Ltd
  3. 2 retail stocks to buy and 2 to avoid
  4. Here’s why the Unilife Corporation share price more than doubled today
  5. Here’s how to make your New Year Financial Resolution a Reality in 2016
  6. Liquefied Natural Gas Ltd shares soar 10%: Is it time to buy?
  7. Here’s why the Amaysim Australia Ltd share price soared 24% today

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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