Local shares handed back most of yesterday’s gains during today’s session following a mostly down night for international markets. Australia’s listed infant formula stocks were hit hard, which certainly didn’t help the market’s cause.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1% to 5,444 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1% to 5,502 points
  • AUD/USD at US 74.13 cents
  • Iron Ore at US$78.36 a tonne, according to the Metal Bulletin
  • Gold at US$1,173.85 an ounce
  • Brent oil at US$53.55 a barrel

Bellamy’s Australia Ltd (ASX: BAL) dropped 43.5% after it issued a business update this morning with sales now expected to be lower than in the last financial year.

Shares of Bellamy’s rival, a2 Milk Company (Australia) (ASX: A2M), also fell 10.2% on the news, with Blackmores Limited (ASX: BKL) ending the session 3.6% lower.

The miners ended today’s session lower as well, despite a strong lift in the prices of iron ore and oil. BHP Billiton Limited (ASX: BHP) tumbled 2.3%, Fortescue Metals Group Limited (ASX: FMG) shed 3.2% and South32 Ltd (ASX: S32) lost 1.7%.

Meanwhile, Woodside Petroleum Limited (ASX: WPL) closed 1.9% lower for the day.

Premier Investments Limited (ASX: PMV) also fell 2.7% for the session following its annual general meeting this morning.

Gold miners EVOLUTION FPO (ASX: EVN) and St Barbara Ltd (ASX: SBM) were among the best for the day, rising 4.7% and 2.3%.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) also rose 3.6% for the day.

Here are Friday’s top stories:

  1. Why the Bellamy’s Australia Ltd share price just plunged 43%
  2. Should you buy 2017’s second-half superstars?
  3. Why these 4 shares are charging higher today
  4. Are Telstra Corporation Ltd shares a buy for its fully franked 6.2% dividend?
  5. Top broker slaps $9.80 price target on TPG Telecom Ltd shares
  6. Is Woolworths Limited no longer a Dividend Aristocrat?

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Motley Fool contributor Ryan Newman owns shares of Bellamy's Australia. The Motley Fool Australia owns shares of A2 Milk and Bellamy's Australia. 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.