Why the ASX 200 fell below 5,200 points today

BHP Billiton Limited (ASX:BHP) and the banks acted as a huge drag on the market.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Local shares fell sharply today upon renewed Brexit fears, although the market did rebound towards the end of the session.

Here's a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% to 5197 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.5% to 5284 points
  • AUD/USD at US 74.37 cents
  • Iron Ore at US$55.93 a tonne, according to the Metal Bulletin
  • Gold at US$1,369.85 an ounce
  • Brent oil at US$48.07 a barrel

Gold miners were the big winner today as uncertainty continued to mount regarding what Brexit could actually mean for the economy.

Beadell Resources Ltd (ASX: BDR) shares skyrocketed 19.3%. EVOLUTION FPO (ASX: EVN) and St Barbara Ltd (ASX: SBM) also rose 6.5% and 4.5%, respectively.

Cover-More Group Ltd (ASX: CVO) and Coca-Cola Amatil Ltd (ASX: CCL) rose strongly as well, lifting 11.3% and 4.6%.

The banks weren't so lucky. Australia and New Zealand Banking Group (ASX: ANZ) dropped 1.9%, while Westpac Banking Corp (ASX: WBC) fell 1.2%. All four banks ended the day in the red.

Meanwhile, BHP Billiton Limited (ASX: BHP) and Origin Energy Ltd (ASX: ORG) lost 3.8% and 4.5%, while Domino's Pizza Enterprises Ltd. (ASX: DMP) shed 4.1%.

Here are Wednesday's top stories:

  1. Renewed Brexit fears drive gold price higher: Miners to follow
  2. 5 important money lessons to learn before you're 30
  3. Why the Lynas Corporation share price soared today
  4. The bargain hunter's guide to CSL Limited
  5. Big four banks' shares slide as royal commission chances grow
  6. Why Fantastic Holdings Limited shares are getting smashed today
  7. Is ASX Ltd a takeover target?
Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »