MENU

Market Wrap: ASX runs out of juice

Credit: Cimexus

Investors were taken on a rollercoaster ride today, but shares ultimately ended the day slightly higher.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.1% to 5,155 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.1% to 5,205 points
  • AUD/USD at US 73.3 cents
  • Iron Ore at US$39.40 a tonne, according to the Metal Bulletin
  • Gold at US$1,084.83 an ounce
  • Brent oil at US$42.68 a barrel

Local shares soared earlier this morning but gradually gave up the majority of those gains, ending the day only marginally higher. This was largely a result of a pullback in the big four bank share prices, together with heavy falls for the energy sector.

Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO), for instance, lost 3.7% and 9.9% respectively while Origin Energy Ltd (ASX: ORG) fell 5.5%.

BHP Billiton Limited (ASX: BHP) ended the session 0.3% higher, but Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) fell 0.2% and 1.9%.

For the major banks, it was Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) that produced the biggest gains. The pair rose 0.6% and 0.7%.

Spotless Group Holdings Ltd (ASX: SPO) was the worst performing share for the day, losing 13.8% to trade at just $1.06. Investa Office Fund (ASX: IOF), on the other hand, rose 7.3%.

Here are Monday’s top stories:

  1. Which is the best fund manager for share market investors?
  2. Broadspectrum Ltd share price soars on Ferrovial takeover offer
  3. Investors in McGrath IPO headed for disappointment
  4. Should you buy the Big Four banks at their current share prices?
  5. What you need to know about Estia Health Ltd’s latest acquisition
  6. Why dividend shares are a better choice than growth shares

BRAND NEW! Our Top Dividend Stock for 2016

Our resident dividend expert names his Top Dividend Share for 2016. Not only are the shares dirt cheap, the company is trading on a 5.6% fully franked dividend yield. Simply click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share.

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.