It was a topsy-turvy day for investors and the local bourse ultimately ended the session in the red.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.5% at 5,071 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.4% at 5,096 points
- AUD/USD down 0.2% to US 70.64 cents
- Iron Ore at US$59.01 a tonne, according to the Metal Bulletin
- Gold at US$1,111.87 an ounce; Brent oil at US$48.79 a barrel
The Australian share market looked set to make a recovery earlier this afternoon but was soon dragged lower by China's falling share market. Meanwhile, Commonwealth Bank of Australia's (ASX: CBA) inability to raise $3 billion from retail investors likely played on the market's sentiment as well. The shares could remain in a trading halt until Tuesday.
National Australia Bank Ltd. (ASX: NAB) was the only bank to finish the day in the black, albeit just barely. It rose 0.03% compared to its two rivals which fell between 0.5% and 0.9%. In the resources sector, BHP Billiton Limited (ASX: BHP) fell 0.9%, but Rio Tinto Limited (ASX: RIO) rose 1.4%.
Sundance Energy Australia Ltd (ASX: SEA) was the biggest gainer from the ASX 200 group, rising 12.5%. Ansell Limited (ASX: ANN) was the worst performer, falling 4.5%.
The ASX 200 ended the week with a gain of 0.6%.
Here are Friday's top stories:
- Commonwealth Bank of Australia raised just $1.5 billion from its retail entitlement offer. It has now launched a retail shortfall bookbuild to raise the remainder of the $3 billion cash needed.
- Bitcoin Group Limited (ASX: BCG) will make its debut on the ASX in the near future. Is it guaranteed to succeed?
- One leading fund manager doesn't think Metcash Limited (ASX: MTS) will be operating in 10 years' time.
- Is iProperty Group Ltd (ASX: IPP) the next REA Group Limited (ASX: REA)? One Foolish contributor gives his 2 cents.
- Here are 4 reasons why Santos Ltd (ASX: STO) is no takeover target
