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%.
However, there were plenty of shares trading in the black today, unlike during Monday's session.
Domino's Pizza Enterprises Ltd. (ASX: DMP) rose 3.3%, Whitehaven Coal Limited (ASX: WHC) gained 5.1%, and Retail Food Group Limited (ASX: RFG) lifted 3.4%.
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
