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Market Wrap: Bumpy day for ASX after resources fall

It was a volatile day for local investors after an overnight reality check in the commodities markets.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.1% to 5150 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.1% to 5210 points
  • AUD/USD at US 74.73 cents
  • Iron Ore at US$58.02 a tonne, according to the Metal Bulletin
  • Gold at US$1,255.10 an ounce
  • Brent oil at US$40.89 a barrel

The country’s big four banks all remained pretty flat for the day, with the biggest mover being National Australia Bank Ltd. (ASX: NAB) which rose 0.4%.

The miners, on the other hand, produced mixed results. Rio Tinto Limited (ASX: RIO), for instance, gained 1%, but South32 Ltd (ASX: S32) and BHP Billiton Limited (ASX: BHP) fell 1.6% and 0.9%.

Brambles Limited (ASX: BXB) and QBE Insurance Group Ltd (ASX: QBE) both ended the day lower as well, falling 3.7% and 4%.

Slater & Gordon Limited (ASX: SGH) was one of the worst performers, shedding 6.5%. MMA Offshore Limited (ASX: MMA), on the other hand, lifted 9.5%.

Here are Thursday’s top stories:

  1. Does this mean more RBA interest rate cuts?
  2. The iron ore price is tumbling and these shares could be next
  3. 5 high-quality blue chip shares trading at bargain prices
  4. Surfstitch Group Ltd shares rocket on shock takeover plot
  5. Is the SEEK Limited share price a bargain?
  6. Here’s why the Australian dollar is not going back to parity with the USD
  7. Why the Resapp Health Ltd share price is up 1,158% in the past year

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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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