Aussie shares go NOWHERE as investors holiday

The local share market finished flat on low volumes today as investors sit on the sidelines thanks to political uncertainty created by the election of Donald Trump and upcoming elections in Italy and France that have the potential to send Europe into meltdown – again.

Here’s a quick recap: 

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5357 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.1% to 5424 points
  • AUD/USD down 0.2% US 73.29 cents
  • Iron Ore marginally down at US$72.60 a tonne, according to the Metal Bulletin
  • Gold flat at US$1,207.14 an ounce
  • Brent oil flat at US$46.90 a barrel

The big corporate news for the day was the proposed $3.5 billion acquisition by buildings material business Boral Limited (ASX: BLD) of its US rival Headwaters Inc.

Elsewhere the recent rebound in commodity prices supported the miners, with BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) both posting marginal gains.

The gold miners were the top performers though with Northern Star Resources Ltd (ASX: NST) and St Barbara Ltd (ASX: SBM) up 5.4% and 7.2% respectively.

The banks including Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Ltd (ASX: NAB) traded flat, with the healthcare sector underperforming.

Among the big fallers were international equities manager BTT Investment Management Ltd (ASX: BTT) and Automotive Holdings Group Ltd (ASX: AHG).

Other big fallers included Karoon Gas Limited (ASX: KAR) on news of a legal stoush in Brazil, while Nearmap Ltd (ASX: NEA) also lost 5% after it released a mixed message to the market stating it did not need to raise capital, but may do so in the future.

Here are Monday’s top stories.

  1. Boral announces monstrous US deal
  2. Karoon Gas shares thumped
  3. Car dealers face trouble
  4. Commonwealth Bank slashes term deposit rates
  5. 15 high-yielding shares for retirees


Attention investors: The Motley Fool's dividend expert Andrew Page has just released his #1 dividend stock for 2017. Chances are you've never heard of this little company, yet it's a fast-growing consumer favourite - with the shares up 155% in just the last five years! Even better, it's throwing off loads of cold, hard cash. As we speak, these shares are trading on 4.2% dividend yield, fully franked (6.0% gross). Making it a 'best bet' for growth AND income... No credit card required.

Simply click here to discover the name, code and a full investment analysis in our brand-new FREE report, "The Motley Fool's Top Dividend Stock for 2017."

Motley Fool contributor Tom Richardson owns shares of Nearmap Ltd.

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.