The local stock market suffered its sixth setback in six days today.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.3% to 5170 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.2% to 5226 points
- AUD/USD at US 71.39 cents
- Iron Ore at US$49.83 a tonne, according to the Metal Bulletin
- Gold at US$1,140.97 an ounce
- Brent oil at US$49.53 a barrel
The ASX was weighed down by a number of factors today. A weak international lead on Friday set the tone for the market early while investors were also hesitant ahead of tomorrow's interest rate decision.
The banks also acted as a drag on the market after Westpac Banking Corp (ASX: WBC) reported its full-year earnings. The stock fell 2.4% while Australia and New Zealand Banking Group (ASX: ANZ) was the next worst, slipping 2.2%.
There was no relief for Woolworths Limited (ASX: WOW) or Wesfarmers Ltd (ASX: WES) either, following a disastrous run last week. The pair fell 2% and 1.5% while fellow blue-chip Telstra Corporation Ltd (ASX: TLS) crashed 1.7%.
Elsewhere, Macquarie Group Ltd (ASX: MQG) dropped 4.4%, BHP Billiton Limited (ASX: BHP) dropped 0.7% and CSL Limited (ASX: CSL) fell 1.6%.
Building products company GWA Group Ltd (ASX: GWA) was the market's worst performer, slipping 16.5%. Meanwhile, mining services and engineering group UGL Limited (ASX: UGL) bucked the trend, rising 7.9%.
Here are Monday's top stories:
