Local shares struggled to gain traction today following yesterday's monetary policy announcement which saw the country's cash rate remain unchanged at 1.75%. The miners also pulled their foot off the accelerator with the market finishing mostly flat for the day.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5370 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 5441 points
- AUD/USD at US 74.62 cents
- Iron Ore at US$52.54 a tonne, according to the Metal Bulletin
- Gold at US$1,248.45 an ounce
- Brent oil at US$51.52 a barrel
Shares of BHP Billiton Limited (ASX: BHP) regained some composure as the session wore on, but still ended the day 1.2% lower. Rio Tinto Limited (ASX: RIO) also fell 1.9%, while Fortescue Metals Group Limited (ASX: FMG) dropped 4%.
The banks also struggled. Australia and New Zealand Banking Group (ASX: ANZ) was the worst of the lot, falling 0.5%.
Meanwhile, Telstra Corporation Ltd (ASX: TLS) shares also fell 1.1%, although Wesfarmers Ltd (ASX: WES) recorded a 1.8% gain.
Liquefied Natural Gas Ltd (ASX: LNG) was again the market's best performer, lifting an impressive 25%. Estia Health Ltd (ASX: EHE), on the other hand, fell 4.8%.
Here are Wednesday's top stories:
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