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Market Wrap: ASX 200 flat as oil price plunges

Although it began the day in the red as a result of a tumbling oil price, the local bourse managed to recover its losses as the session wore on, ending the day slightly in the black.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5230 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.1% to 5315 points
  • AUD/USD at US 74.87 cents
  • Iron Ore at US$55.07 a tonne, according to the Metal Bulletin
  • Gold at US$1,358.14 an ounce
  • Brent oil at US$46.83 a barrel

Perhaps surprisingly, most shares in the energy sector suffered only small losses today. BHP Billiton Limited (ASX: BHP) for instance fell 0.2%, while Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) both managed to end the day slightly higher.

The banks produced mixed results as well. Australia and New Zealand Banking Group (ASX: ANZ) was the best of the lot, rising 0.3%, while Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) recorded marginal declines.

The gold miners pared back some of their gains today. Beadell Resources Ltd (ASX: BDR) fell 6.9%, while Regis Resources Limited (ASX: RRL) lost 2.8%.

Whitehaven Coal Limited (ASX: WHC) and Bellamy’s Australia Ltd (ASX: BAL) were two of the market’s best for the day. They rose 10.2% and 6.1%, while Insurance Australia Group Ltd (ASX: IAG) shares fell 2%.

Here are Friday’s top stories:

  1. 2016’s Top 5 stocks revealed
  2. The chasm between good and great
  3. 5 ASX shares that have soared since Brexit
  4. 5 ASX shares that have been smashed since Brexit
  5. 3 beaten-up bargains for investors with a cast-iron stomach
  6. 3 exciting fintech companies to buy today
  7. Why brokers rate these 3 shares as conviction buys today

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Motley Fool contributor Ryan Newman owns shares of Bellamy's Australia. 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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