There's no way of saying it lightly. The share market took a beating today on a somewhat unexpected 'Brexit' result. This has resulted in much uncertainty in global markets.
Currencies were hammered while gold prices soared, and investors in the share market watched many of their investments fall deep into the red.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 3.2% to 5113 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 3.1% to 5192 points
- AUD/USD at US 73.55 cents
- Iron Ore at US$51.89 a tonne, according to the Metal Bulletin
- Gold at US$1,324.48 an ounce
- Brent oil at US$48.07 a barrel
Let's start on a positive note – at least for investors in the gold sector. Shares of EVOLUTION FPO (ASX: EVN) and St Barbara Ltd (ASX: SBM) soared 12.3% and 7.7% on the back of a surging gold price.
Newcrest Mining Limited (ASX: NCM) and Beadell Resources Ltd (ASX: BDR) also gained 8.8% and 9.8%, respectively.
Unfortunately, there wasn't much else to smile about today. BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO), which are both exposed to the London market, plunged 7.9% and 6.5%, while Clydesdale Bank plc (ASX: CYB) also crashed 17.5%.
The banks were on the back foot, as well. Westpac Banking Corp (ASX: WBC) was hit the hardest, losing 4.4%, while Australia and New Zealand Banking Group (ASX: ANZ) also tumbled 4.1%.
Here are Friday's top stories:
- Why Brexit could be a huge opportunity for investors
- Brexit: Australian dollar plunges as Brexit prevails
- Brexit means the gold price looks about to go gangbusters
- 3 ASX shares with fast-growing dividends
- 5 ridiculously simple ways to improve your wealth
- UK-related stocks are getting smoked in early trading
Remember, volatility is scary in the short-term, but it will pass.
Whether you want to be aggressive with acquisitions or just wait on the sidelines, do yourself a favour and at very least be on the look out for some great buying opportunities. Some are sure to present themselves in the near future.
