S&P/ASX 200 flat as gold price falls

Local shares ended the day flat as falls in the big banks and major miners offset some gains in the telecommunications and healthcare sectors to deliver a glass flat day in terms of market movements.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5408 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.1% to 5473 points
  • AUD/USD at US 71.6 cents
  • Iron Ore at US$51.15 a tonne, according to the Metal Bulletin
  • Gold at US$1,203.21 an ounce
  • Brent oil at US$49.17 a barrel

The Commonwealth Bank of Australia (ASX: CBA) shed 0.9% to lead the big banks lower, with Westpac Banking Corp (ASX: WBC) falling 0.3%.

The best-performing company from the S&P/ ASX200 was LNG Ltd (ASX: LNG), which gained 6.5% to 57.5 cents, while the gold miners Northern Star Resources Ltd (ASX: NST) and EVOLUTION FPO (ASX: EVN) were among the worst performers in dropping 5.8% and 3.8% lower respectively.

Elsewhere China-exposed baby formula manufacturers Blackmores Limited (ASX: BKL) and Bellamy’s Australia Ltd (ASX: BAL) dropped 4.1% and 4.2% respectively. This may in part be due to a news report in the Australian Financial Review claiming Blackmores’ baby formula sales had been disappointing in April.

Here are Monday’s top stories.

  1. Why the ALS Ltd share price dropped like a stone today
  2. Patties Food share price soars on takeover offer
  3. Select Harvest shares lift 7%
  4. Gold miners get smashed in Monday trade
  5. Blackmores falls on baby formula reports

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Motley Fool contributor Tom Richardson owns shares of Bellamy's Australia and Blackmores Limited. The Motley Fool Australia owns shares of Bellamy's Australia. 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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