Market Wrap: OzForex crashes as ASX ends flat

Local shares bounced back from their earlier losses and ended the day mostly flat.

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 4,975 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.1% to 5,022 points
  • AUD/USD at US 70.91 cents
  • Iron Ore at US$45.73 a tonne, according to the Metal Bulletin
  • Gold at US$1,166.21 an ounce
  • Brent oil at US$34.28 a barrel

The miners again provided a pillar of support for the broader market after iron ore prices rose during the latest session. BHP Billiton Limited (ASX: BHP) gained another 1.1% while Rio Tinto Limited (ASX: RIO) gained 2.2%.

The gold miners put on an even greater display. Newcrest Mining Limited (ASX: NCM) jumped 3.7%, while EVOLUTION FPO (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) gained 6.5% and 4% respectively.

Unfortunately, however, their efforts were mostly offset by the major banks. Australia and New Zealand Banking Group (ASX: ANZ) and National Australia Bank Ltd. (ASX: NAB) both fell more than 1%, while all four ended the day in the red.

Ansell Limited (ASX: ANN) was one of the top performers for the day, rising 7.3%. OzForex Group Ltd (ASX: OFX), on the other hand, crashed 42.1%.

Here are Monday’s top stories:

  1. CRASH: Why the OzForex Group Ltd share price plummeted 39% today
  2. JB Hi-Fi Limited results: Profit up 7.5%
  3. Capitol Health Ltd’s MD should knock back options offer
  4. Could a bidding war erupt for Greencross Limited?
  5. Why the Capilano share price is buzzing higher today
  6. Liquefied Natural Gas Ltd shareholders: Look away now
  7. February 2016 Reporting Season – Week 1 – Wrap Up

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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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