Local shares ended the day down as the market reacted to stronger-than-expected gross domestic product data that showed growth of 3.1% over the year and 1.1% in the March quarter. Today's selling a reaction to a decreased chance of a cash rate cut by the Reserve Bank over the next quarter and as global markets get skittish over the prospect of a Brexit vote in the June 23 UK referendum.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1% at 5323 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1% to 5395 points
- AUD/USD up 0.6% at US 72.7 cents
- Iron Ore at US$50.15 a tonne
- Gold at US$1,215 an ounce
- Brent oil at US$49.51 a barrel
Today's leading gainers from among the S&P/ASX 200 included mining services business Worleyparson Limited (ASX: WOR) up 4.3%, and cattle farmer Australian Agricultural Co Ltd (ASX: AAC) up 3.4%.
Elsewhere, CYBG PLC CDI 1:1 (ASX: CYB), the company more commonly know as Clydesdale & Yorkshire Bank dropped 5.3% to $5.30, and UK-based fund manager Henderson Group plc (ASX: HGG) fell 4.1% as investors worried over UK opinion polls suggesting a Brexit is increasingly likely.
Here are Wednesday's top stories.
