Local shares recovered most of their earlier losses by around 2pm Sydney time, but quickly reversed course again. It was the miners doing most of the damage, denting the market’s chance of posting its seventh-consecutive week of gains this week.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% to 5318 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.6% to 5384 points
  • AUD/USD at US 72.45 cents
  • Iron Ore at US$54.89 a tonne, according to the Metal Bulletin
  • Gold at US$1,252.84 an ounce
  • Brent oil at US$48.46 a barrel

Shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) weighed on the broader market today. The pair fell 2.6% and 2.3%, respectively.

The banks also experienced an off-day. Westpac Banking Corp (ASX: WBC) was the worst of the lot, shedding 1.3%.

The gold sector, on the other hand, enjoyed decent returns. EVOLUTION FPO (AX: EVN) was up 4.9%, while Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) gained 1.7% and 2.9%.

Bluescope Steel Limited (ASX: BSL) and Aconex Ltd (ASX: ACX) also gained 7.4% and 5.8%, respectively.

Flight Centre Travel Group Ltd (ASX: FLT) had a day to forget, however, after it posted a profit downgrade. Its shares tumbled 8.9%.

Here are Monday’s top stories:

  1. 3 founder-led companies that could boost your portfolio’s returns
  2. Slammed: Flight Centre Travel Group Ltd shares sink on profit downgrade
  3. Is this the future for ASX-listed lithium shares?
  4. 3 key takeaways from inside Australia’s FinTECH summit
  5. Why these 3 ASX shares deserve a second chance
  6. Is it time to short Australia’s Big Four Banks?

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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.