The market's rally took a breather today, despite an 8.8% jump in the iron ore price overnight.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.7% to 5,236 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.7% to 5,299 points
- AUD/USD at US 77.57 cents
- Iron Ore at US$70.46 a tonne, according to the Metal Bulletin
- Gold at US$1,246.48 an ounce
- Brent oil at US$45.11 a barrel
The miners and energy shares have driven the ASX higher over the last few sessions but turned into something of a drag today.
BHP Billiton Limited (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) were two of the most notable fallers. BHP fell 3.3% and Fortescue dropped 7.2%, while South32 Ltd (ASX: S32) also shed 4.6%.
The banks helped to offset some of the damage caused by the resources sector. Commonwealth Bank of Australia (ASX: CBA) was the only bank that ended the day in the red, falling 0.6%, with its three major peers rising between 0.2% and 0.6%.
Medibank Private Ltd (ASX: MPL) reversed some of yesterday's gains, falling 1.3%, while Telstra Corporation Ltd (ASX: TLS) also lost 0.4%.
Aconex Limited (ASX: ACX), on the other hand, gained an impressive 7%, making it one of the market's better performing shares.
Here are Friday's top stories:
- Medibank Private Ltd hits new all-time high: Should you buy?
- Even the BHP Billiton Limited boss is bearish on iron ore prices
- Deutsche Bank thinks Aconex Limited shares could soar higher
- Is it time to take a punt on oil producers?
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