The All Ordinaries (Indexasx: XAO) (ASX: XAO) has closed down 0.5% at 5,901.5, reversing most of yesterday's gains. Not surprisingly, 18 of the top 20 stocks finished the day in the red.
Gold stocks took a beating, despite gold trading above US$1,200 an ounce – the equivalent of A$1,560 an ounce. Beadell Resources Ltd (ASX: BDR) crashed 10.6% to 21 cents, Resolute Mining Limited (ASX: RSG) fell 8.5%, Oceanagold Corporation (ASX: OGC) and Troy Resources Ltd (ASX: TRY) both fell 6.3%, and Perseus Mining Ltd (ASX: PRU) lost 5%.
In fact, it wasn't a great day for resources and energy stocks in general. Nickel miners Sirius Resources N.L. (ASX: SIR) and Western Areas Ltd (ASX: WSA) dropped more than 5%, while copper miner Sandfire Resources NL (ASX: SFR) fell 6.3% and lithium, potash and boron miner Orocobre Limited (ASX: ORE) closed down 5.2%. Horizon Oil Ltd (ASX: HZN) fell 8.3%.
In other sectors, diagnostic imaging specialist Capitol Health Ltd (ASX: CAJ) fell below $1.00 to 98 cents, dropping 6.7%. With no news from the company, we can only assume it was usual market ructions causing the fall. Year-to-date, shares are still up 15.9%, and 43% in the past 12 months, as the company expands its presence into other states outside Victoria.
SmartTrans Holdings Limited (ASX: SMA) fell 9.1% on heavy volume, but has still risen 110% since the start of this year. SmartTrans offers scheduling software in Australia and also offers an e-commerce platform -SmartPay online billing – in China, which saw record revenues in March of $300,000, and more than $1 million in just 4 months. Clearly, investors expected more.
Mining services company MACA Ltd (ASX: MLD) fell 7.2% to 77 cents, although there was no news from the company. It may be the continuing turmoil in the iron ore sector that has investors abandoning Maca, although we have repeatedly warned that mining services companies have yet to feel the worst, with mining investment still falling.
