Local shares burst higher today following a positive night on Wall Street. However, one big-name business didn't get to enjoy the rally as its shares plummeted.
First, here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.6% to 5442 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.6% to 5523 points
- AUD/USD at US 76.25 cents
- Iron Ore at US$59.28 a tonne, according to the Metal Bulletin
- Gold at US$1,266.21 an ounce
- Brent oil at US$51.31 a barrel
Bega Cheese Ltd (ASX: BGA) was the unlucky business that fell 16.8% today, making it the worst from the ASX 200 cohort.
The company forecast flat earnings for the year ahead, while its recent joint venture with Blackmores Limited (ASX: BKL) doesn't appear to be going to plan. Blackmores' shares fell a more respectable 1.1%.
JB Hi-Fi Limited (ASX: JBH) and EVOLUTION FPO (ASX: EVN) also struggled today, shedding 2.3% and 2.7%, respectively.
Meanwhile, shares of Ardent Leisure Group (ASX: AAD) plunged 7.8% late in the afternoon. It has been reported that at least one person has tragically died following a theme park accident at Dreamworld, owned by Ardent Leisure.
On a far more positive note, shares of Fortescue Metals Group Limited (ASX: FMG) rocketed 6.5%, with Rio Tinto Limited (ASX: RIO) rising 2.4%.
Westpac Banking Corp (ASX: WBC) was the top-performing bank, rising 1.1%, while Coca-Cola Amatil Ltd (ASX: CCL) regained 2.2% after yesterday's selloff.
Speaking of sell-offs, Healthscope Ltd (ASX: HSO) also recovered 1.8% today, along with a 1.5% gain for Ramsay Health Care Limited (ASX: RHC). Crown Resorts Ltd (ASX: CWN) also gained 0.9%.
Among the market's best today were Aconex Ltd (ASX: ACX), Greencross Ltd (ASX: GXL) and Whitehaven Coal Ltd (ASX: WHC). The trio lifted 13.1%, 4.6% and 5%, respectively.
Here are Tuesday's top stories:
- IPO: 5 Key Risks Facing Inghams Group Limited Investors
- How one master investor made a 926% gain in a single day's trade
- Sirtex Medical Limited shares surge on AGM sales guidance update
- CRASH: Should you buy shares of Healthscope Ltd?
- Here's why Bega Cheese Ltd is getting hammered today
- 3 blue-chip shares I think dividend investors should avoid
