After a positive start, the local stock market floated into negative territory by market close this afternoon.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.1%% to 5,347.30 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 5,385.70 points
- AUD/USD at US72.57 cents
- Iron Ore fell 1.1% to US$51.62 a tonne, according to the Metal Bulletin
- Gold at US$1,164.56 an ounce
- Brent oil at US$47.99 a barrel
On the back of fresh stimulus out of China and strong leads set by Wall St on Friday, the local market roared higher at the open. However, as the day rolled on, many popular blue-chip stocks fell into the red, weighing on the ASX.
Following last week's announcements about interest rates on their enormous home loan portfolios, major bank stocks traded higher today. Westpac Banking Corp (ASX: WBC) and Commonwealth Bank of Australia (ASX: CBA) performed best, rising 0.82% and 0.2%, respectively.
With exposure to China, Rio Tinto Limited (ASX: RIO) climbed 1.03% on the back of interest cuts out of Beijing, while Telstra Corporation Ltd (ASX: TLS) weighed on the market, falling 1.16%. BlueScope Steel Limited (ASX: BSL) was the ASX 200's top performer, rising 10% following the announcement of a trading update and acquisition.
Here are Monday's top stories:
