Local shares rebounded strongly this morning, but the rally soon lost steam. Here’s a quick recap: S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.2% to 5207 points ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.2% to 5310 points AUD/USD at US 75.4 cents Iron Ore at US$57.78 a tonne, according to the Metal Bulletin Gold at US$1,329.21 an ounce Brent oil at US$48.01 a barrel Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) both acted as a drag on the market today, falling 1% and 1.1%. Telstra Corporation Ltd (ASX: TLS) dropped as well, shedding 1%, with Wesfarmers Ltd (ASX: WES) down 0.9%….
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Local shares rebounded strongly this morning, but the rally soon lost steam.
Here’s a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.2% to 5207 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.2% to 5310 points
- AUD/USD at US 75.4 cents
- Iron Ore at US$57.78 a tonne, according to the Metal Bulletin
- Gold at US$1,329.21 an ounce
- Brent oil at US$48.01 a barrel
However, there were plenty of shares trading in the black today, unlike during Monday’s session.
Hills Ltd (ASX: HIL) skyrocketed 52.9% on plans to demerge its Hills Health Solutions business, with JB Hi-Fi Limited (ASX: JBH) entering a trading halt after announcing it would acquire The Good Guys.
Harvey Norman Holdings Limited (ASX: HVN) barely budged on the news, ending the session a mere 0.2% lower.
Here are Tuesday’s top stories:
- JB Hi-Fi Limited to buy The Good Guys for $870 million: What you need to know
- Hills Ltd shares are going gangbusters on its merger plans
- When the banks could cut their dividends to zero
- Here’s why Fortescue Metals Group Limited shares are soaring today
- Revealed: Top broker names one ASX share to buy and one to sell today
- Why Myer Holdings Ltd shares could rocket this week
- Why I dumped my QBE Insurance Ltd shares
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Motley Fool contributor Ryan Newman owns shares of Retail Food Group Limited. The Motley Fool Australia owns shares of Retail Food Group Limited. 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.