The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) failed to follow Wall Street's generally positive lead, posting a fall of 0.22%. The S&P 500 rose 0.28% overnight, however the Dow Jones was down 0.27% after three of its constituents reported disappointing earnings results.
Inflation data out today showed a spike which seemed to catch economists off guard and led strategists to suggest further interest rate cuts were unlikely. Investors appeared concerned by the inflation reading, which together with a weakening iron ore price saw falls across most sectors.
Here are the top five best performing stocks in the index today.
- GUD Holdings Ltd (ASX: GUD) gained 3.8% to $5.96
- Mount Gibson Iron Ltd (ASX: MGX) added 3.5% to $1.02
- Macquarie Atlas Roads Group (ASX: MQA) rose 3.3% to $2.84
- Cardno Ltd (ASX: CDD) climbed 2.6% to $6.67
- STW Communications Group Ltd (ASX: SGN) closed up 2.3% to $1.53
These stocks were the losers on the day.
- Sandfire Resources NL (ASX: SFR) fell 8.8% to $5.91
- Transfield Services Ltd (ASX: TSE) dropped 5.9% to 88 cents
- Medusa Mining Ltd (ASX: MML) lost 5.6% to $2.20
- Sirius Resources NL (ASX: SIR) slipped 5.1% to $2.23
- Beadell Resources Ltd (ASX: BDR) closed down 4.6% to 83 cents
