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

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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.

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