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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

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Motley Fool contributor Tom Richardson owns shares of Nearmap Ltd.

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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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