The local share market opened much higher today, but gradually fell into the red as the day progressed.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.2% at 5,200 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.2% 5,249 points
- AUD/USD at US 72.26 cents
- Iron Ore at US$43.98 a tonne, according to the Metal Bulletin
- Gold at US$1,072.33 an ounce
- Brent oil at US$45.46 a barrel
Despite the ASX getting off to a very strong start, big losses from heavyweights in the ASX 200 gradually wore down the broader market. Further heavy falls in shares of Slater & Gordon Limited (ASX: SGH), down 27%, and a general malaise from the miners, supermarkets and banks did the rest of the damage.
The Slater & Gordon share price was again hit hard, despite yesterday's 50% sell off, as analysts hacked at their price target forecasts, and investors followed suit.
BHP Billiton Limited (ASX: BHP) managed to slow the falls in its share price although, along with rival Rio Tinto Limited (ASX: RIO), it still finished the day lower. Shares of Woolworths Limited (ASX: WOW) and Wesfarmers Ltd (ASX: WES) fell 1.2% and 0.65%, respectively.
Transurban Group (ASX: TCL) remerged from its trading halt, with investors bidding up the toll road operator's share price 1.7%.
Mesoblast Limited (ASX: MSB) finished the day more than 15% higher, while Retail Food Group Limited (ASX: RFG) and JB Hi-Fi Limited (ASX: JBH) climbed 6.5% and 4.7%, respectively.
Here are today's top stories:
- Is the BHP Billiton Limited dividend set to be axed in half?
- The dividend warning bank shareholders need to read
- 5 things to know about the Slater & Gordon Limited share price collapse
- The Adacel Technologies share price is now up 760% this year. Is it still a buy?
- Is the Fisher & Paykel Healthcare Corp Ltd share price a BARGAIN?
- National Australia Bank Ltd. shares up on UK demerger
- 3 devilishly good dividend stocks
