Local shares faltered today, ending what was a six-day winning streak despite a promising start to the session.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% to 5113 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.7% to 5169 points
- AUD/USD at US 74.34 cents
- Iron Ore at US$63.75 a tonne, according to the Metal Bulletin
- Gold at US$1,267.48 an ounce
- Brent oil at US$40.30 a barrel
The ASX looked poised to leap again this morning following a huge rally in commodity prices overnight (iron ore up 18.6%). But in a case of irony, the market ended the day lower in a fall led by the miners.
After rising almost 5% earlier, shares of BHP Billiton Limited (ASX: BHP) ended the day 1.8% lower. Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) fared even worse, falling 2.6% and 9.4%.
The junior miners performed well again, though. Atlas Iron Limited (ASX: AGO) gained 40.9% while BC Iron Limited (ASX: BCI) jumped 13.2%.
All four of the banks ended the day in the red, with Australia and New Zealand Banking Group (ASX: ANZ) and Commonwealth Bank of Australia (ASX: CBA) both falling nearly 2%.
Sundance Energy Australia Ltd (ASX: SEA) was one of the worst performers for the day, slipping 14%.
Here are Tuesday's top stories:
- Iron ore ROARS higher – but the resources explosion may not last…
- What's behind the extraordinary trading in Fortescue Metals Group shares?
- Iron ore miners are soaring
- 5 reasons to stick with your Wesfarmers Ltd shares
- Primary Health Care Limited or Sonic Healthcare Limited: Which is the better bet?
- Is this the start of another iron ore bull market?
- How to profit from the trades of investing legends
