Local shares closed lower today, but there were a lot of heavy movers.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.7% to 5166 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.6% to 5218 points
- AUD/USD at US 71.9 cents
- Iron Ore at US$43.98 a tonne, according to the Metal Bulletin
- Gold at US$1,057.30 an ounce
- Brent oil at US$44.73 a barrel
The ASX 200 was dragged down today by the major miners and banks, most of which closed lower for the day. BHP Billiton Limited (ASX: BHP) was the big mover, shedding 3.6%, while National Australia Bank Ltd (ASX: NAB) and Commonwealth Bank of Australia (ASX: CBA) lost 1% and 0.9%.
However, there were plenty of other big movements today, most notably Slater & Gordon Limited (ASX: SGH). After falling 74% last week, the shares regained 34.1% today after management reaffirmed earnings guidance for the 2016 financial year (FY16).
The Metcash Limited (ASX: MTS) share price also jumped 12.1% after management said it was up to stage two of its turnaround strategy, which could save ~$100 million in costs by FY19. Sales and earnings for the first half were perhaps also better than the market anticipated.
Dick Smith Holdings Ltd (ASX: DSH) and ALS Ltd (ASX: ALQ) weren't so lucky. Dick Smith's share price plunged as much as 69.7% before ending the day 57.6% lower after it booked a $60 million impairment on inventories and failed to confirm profit guidance.
ALS, on the other hand, plunged 22.7% after returning from a capital raising.
Here are Monday's top stories:
- Why the Dick Smith Holdings Ltd share price just plunged 50%
- The Woolworths sale of Dick Smith now looks brilliant
- Why the Metcash Limited share price soared 16% today
- Why the BHP Billiton Limited share price could fall below $18
- Why Slater & Gordon Limited shares are soaring higher today
- Slater & Gordon Limited shares fly on NO CHANGE to financial guidance
