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ASX 200 lifts, Cover-More soars: 12 shares you should have been watching

Local shares edged higher today, although the gains achieved earlier in the session were largely eroded as the day wore on.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5562 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.1% to 5619 points
  • AUD/USD at US 74.53 cents
  • Iron Ore at US$81.66 a tonne, according to the Metal Bulletin
  • Gold at US$1,157.07 an ounce
  • Brent oil at US$56.67 a barrel

Cover-More Group Ltd (ASX: CVO) was one of the big news stories today. Its share price soared 42.2% after receiving a takeover offer. This was likely a relief to shareholders of the company.

Infant formula maker Bellamy’s Australia Ltd (ASX: BAL) was the other big news story. Its shares were placed in a trading halt pending another trading announcement.

Outside of those companies, BHP Billiton Limited (ASX: BHP) provided plenty of drive, its shares lifting 1.3%. South32 Ltd (ASX: S32) gained 0.7%, while Fortescue Metals Group Limited (ASX: FMG) rose 2.4%.

Telstra Corporation Ltd (ASX: TLS), on the other hand, slipped 0.8%, while Commonwealth Bank of Australia (ASX: CBA) closed 0.3% higher.

The gold miners acted as a drag on the broader market today. Newcrest Mining Limited (ASX: NCM) slipped 2.6%, and St Barbara Ltd (ASX: SBM) shed 3.2%.

Liquefied Natural Gas Ltd (ASX: LNG) and Mesoblast limited (ASX: MSB) were two of the other big movers today. They rose 11.7% and 7.6%, respectively.

Meanwhile, Flight Centre Travel Group Ltd (ASX: FLT) nosedived 7.7%.

Here are Monday’s top stories:

  1. Why the Cover-More Group Ltd share price is soaring today
  2. This stock has turned $10,000 into $293,000: Where to next?
  3. 3 warning signs for property investors in 2017
  4. Why Flight Centre Travel Group Ltd shares have plunged today
  5. 2 cheap growth shares that I’d buy with $5,000 today
  6. Dow Jones hits record high: Should you sell everything?

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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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