The ASX closed lower today, but the damage could have been a lot worse.
Here's a brief rundown:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO): down 0.2% to 5,030 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO): down 0.2% to 5,051 points
- AUD/USD: up 0.1% to US 69.21 cents
- Iron Ore at US$56.50 a tonne
- Gold: at US$1,123.45 an ounce; Brent oil: down 2.1% at US$49.61 a barrel
The local sharemarket plunged 1.3% earlier but was buoyed by gains made on China's stock market shortly after. However, investors remain somewhat hesitant to make any big bets with further volatility expected over the coming week.
BHP Billiton Limited (ASX: BHP) fell further, although it did manage to trim its losses in the afternoon. The miner's shares ended the day 2% lower at $24.19. Rio Tinto Limited (ASX: RIO) closed 1.2% lower as well.
Commonwealth Bank of Australia (ASX: CBA) was the only bank to finish in the black. It rose 0.2% while its peers shed between 0.4% and 0.7%. Meanwhile, Woolworths Limited (ASX: WOW) and Wesfarmers Ltd (ASX: WES) lost 0.7% and 0.1% respectively.
Liquefied Natural Gas Ltd (ASX: LNG) and AWE Limited (ASX: AWE) were the worst performing stocks for the day, losing 9.2% and 8.9% respectively. On a more positive note, Northern Star Resources Ltd (ASX: NST) and TPG Telecom Ltd (ASX: TPM) were among the biggest winners, closing 7.2% and 4.9% higher, respectively.
Here are Monday's top stories:
- Westpac Banking Corp (ASX: WBC) will increase its investment spend by 20% to bring in 1 million new customers over the next two years
- Shares of Starpharma Holdings Limited (ASX: SPL) rallied 21% after it signed a significant licensing agreement with pharmaceutical giant AstraZeneca Inc.
- The Australian dollar briefly fell to around US 69 cents – a level not seen in more than six years. These three ASX companies could help you profit.
- One Foolish contributor has deliberated over the growth prospects for Seek Limited, REA Group Limited and Carsales.
- BHP Billiton is offering a massive 10.7% dividend yield. But is it worth your attention?
- Billions of dollars' worth of LNG projects are at risk with liquefied natural gas prices expected to plummet.
Investors should expect more volatility over the coming days, and maybe even weeks, and ensure they are prepared for further falls.
