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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

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

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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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