Market Wrap: Woolworths shares revive ASX

It was a bumpy day for the local share market, but it ultimately ended the day flat.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 4880 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 4945 points
  • AUD/USD at US 72.42 cents
  • Iron Ore at US$49.75 a tonne, according to the Metal Bulletin
  • Gold at US$1,237.28 an ounce
  • Brent oil at US$35.02 a barrel

Local shares fell sharply this morning after the iron ore price fell overnight, although a rebound in oil prices helped steady the ship. Meanwhile, investors appeared to come around to Woolworths Limited’s (ASX: WOW) earnings report which also provided shares with some support.

Woolworths’ shares fell as much as 6.3% today, but ended the day 2.1% higher. Wesfarmers Ltd (ASX: WES), on the other hand, fell 0.1%.

Unfortunately, the miners also had a tough day. Shares of BHP Billiton Limited (ASX: BHP) dropped 2.6%, Rio Tinto Limited (ASX: RIO) was down 3.2%, and Fortescue Metals Group Limited (ASX: FMG) was down 2.9%.

National Australia Bank Ltd. (ASX: NAB) was the worst of the banks, losing 0.6% for the day.

Breville Group Ltd (ASX: BRG) was again one of the top performing shares from the ASX 200, rising 12.3%. Super Retail Group Ltd (ASX: SUL) plunged 17.2%, while Village Roadshow Ltd’s (ASX: VRL) shares also lost another 6.8%.

Here are Friday’s top stories:

  1. Woolworths Limited slashes dividend and posts $973 million loss
  2. Here’s why Super Retail Group Ltd shares plunged 15% today
  3. Vocus Communications Limited shares lift on gangbusters growth
  4. Shares of Arrium Ltd are down 72%: Is it time to sell?
  5. Woolworths Limited slashes its dividend… and its share price SOARS
  6. Monash IVF Group Ltd vs. Virtus Health Ltd: Which is the better buy?

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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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