Australia's S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished lower on Monday.
Here's a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.56% to 6,026.20
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.50% to 6,229.80
- AUD/USD at US 79.3 cents
- Gold at US$1,333.65 an ounce
- Brent Oil at US$67.94 a barrel
The ASX indices have had their worse day in almost a year and a half. However, the ASX 200 remains just above the 6,000 level, which shows that the media loves a short-term bad news story.
One of the best performers in the ASX 200 was Speedcast International Limited (ASX: SDA), the data and communications company's share price rose by 1.82% due to its $184 million deal with the NBN Co.
The best performer in the ASX200, by far, was Infigen Energy Ltd's (ASX: IFN) share price which rose by 4% today.
The only other share price to manage growth of more than 1% today was ARB Corporation Limited (ASX: ARB), it rose by 1.62%.
The ASX was a sea of red today, so it's hard to pick just a few shares which were negative.
The Wesfarmers Ltd (ASX: WES) share price dropped by 4.51% on news that it would write down the value of its UK Bunnings business.
Various resource companies' share prices were smashed as commodity prices plummeted. Resolute Mining Limited (ASX: RSG) sank by 9.48%, Orocobre Limited (ASX: ORE) dropped by 7.3% and Syrah Resources Ltd (ASX: SYR) crashed down 6.93%.
The Telstra Corporation Ltd (ASX: TLS) share price fell by 1.36% even though it announced that 5G is going to be launched next year.
Finally, listed investment company giant Argo Investments Limited (ASX: ARG) revealed another dividend increase yet the share price fell by 0.24%, although this does mean the market likely reacted favourably to the result today.
Here are some of today's top stories:
- Argo Investments Limited reports: Increased dividend again
- Speedcast international Limited secures $184 million deal with NBN Co
- Wesfarmers Ltd has lost over $800 million on its Bunnings UK investment so far
- Banks turn on Bitcoin, the 'biggest bubble' in history
- Why AWE Limited just accepted a $602 million takeover offer
- Top broker names 11 ASX shares that could surprise during earnings season
