Local shares ascended strongly at the open but were unable to hold onto the gains as Brexit fears rose to the surface again. It's also possible that the Bank of Japan's decision to not provide additional stimulus may also have impacted investor sentiment.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5146 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 5231 points
- AUD/USD at US 73.9 cents
- Iron Ore at US$50.65 a tonne, according to the Metal Bulletin
- Gold at US$1,301.76 an ounce
- Brent oil at US$48.57 a barrel
Starting on a positive note, shares of Crown Resorts Ltd (ASX: CWN) soared 13.2% on news that the company will be split in three to help boost value for investors. The shares closed at $12.75.
Gold miners EVOLUTION FPO (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) also rose strongly, lifting 4.7% and 5.2%, respectively.
However, the banks weighed on the market's returns once again. National Australia Bank Ltd. (ASX: NAB) and Australia and New Zealand Banking Group (ASX: ANZ) were the worst, falling 0.8% and 0.7%, while Westpac Banking Corp (ASX: WBC) also dropped 0.5%.
Telstra Corporation Ltd (ASX: TLS) provided some support, lifting 1.1%, whereas Medibank Private Ltd (ASX: MPL) shares crashed 5.5%.
Here are Thursday's top stories:
- Jackpot? Crown Resorts Ltd announces restructure to improve shareholder value
- 5 defensive shares to own in a market crash
- Why the Medibank Private Ltd share price has been hammered today
- Brokers say buy these 2 ASX shares today
- Surfstitch Ltd could sink further as Perpetual Limited dumps shares
- Sell everything? How a Brexit could shatter share markets
