S&P/ASX 200 falls as Brexit risk rises

Local shares ended the day down as the market reacted to stronger-than-expected gross domestic product data that showed growth of 3.1% over the year and 1.1% in the March quarter. Today’s selling a reaction to a decreased chance of a cash rate cut by the Reserve Bank over the next quarter and as global markets get skittish over the prospect of a Brexit vote in the June 23 UK referendum.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1% at 5323 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1% to 5395 points
  • AUD/USD up 0.6% at US 72.7 cents
  • Iron Ore at US$50.15 a tonne
  • Gold at US$1,215 an ounce
  • Brent oil at US$49.51 a barrel

Today’s leading gainers from among the S&P/ASX 200 included mining services business Worleyparson Limited (ASX: WOR) up 4.3%, and cattle farmer Australian Agricultural Co Ltd (ASX: AAC) up 3.4%.

Elsewhere, CYBG PLC CDI 1:1 (ASX: CYB), the company more commonly know as Clydesdale & Yorkshire Bank dropped 5.3% to $5.30, and UK-based fund manager Henderson Group plc (ASX: HGG) fell 4.1% as investors worried over UK opinion polls suggesting a Brexit is increasingly likely.

Here are Wednesday’s top stories. 

  1. Top stock picks for June
  2. Sirtex Medical crashes on dose sales guidance
  3. Why a Brexit vote could shatter your portfolio
  4. 3P Learning shares tank on profit warning
  5. National property values led higher by Sydney

Why these 5 dividend shares are better bets than the banks

Discover The Motley Fool's top 5 ASX dividend stock ideas for 2016 to get you started building a more diversified income portfolio that is paying you back!

The report is free! No credit card required.

Motley Fool contributor Tom Richardson has no position in any stocks mentioned.

You can find Tom on Twitter @tommyr345

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.

HOT OFF THE PRESSES: My #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.