Local shares followed their international counterparts lower today, exacerbated by the Reserve Bank's decision to keep interest rates on hold.
Some investors were hoping for an interest rate cut due to the uncertainty caused by Brexit, but will now have to wait at least one more month before the RBA meets again.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1% to 5228 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1% to 5312 points
- AUD/USD at US 75.10 cents
- Iron Ore at US$56.22 a tonne, according to the Metal Bulletin
- Gold at US$1,343.10 an ounce
- Brent oil at US$49.54 a barrel
It was a fairly broad sell-off today, led by the big four banks.
Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) fell 1.5% each, while National Australia Bank Ltd. (ASX: NAB) dropped 1.6%.
CYBG PLC CDI 1:1 (ASX: CYB), or Clydesdale and Yorkshire Bank, also fell another 4.2%, while Henderson Group plc (ASX: HGG) lost 2.4%.
Other shares offering solid dividend yields were also sold down. Telstra Corporation Ltd (ASX: TLS) shed 1.1% and Wesfarmers Ltd (ASX: WES) lost 1.3%.
Mantra Group Ltd (ASX: MTR) shares also lost 7.7%, but APN Outdoor Group Ltd (ASX: APO) rose 4.6% and Pro Medicus Limited (ASX: PME) also gained another 8.4%.
Here are Tuesday's top stories:
- Brexit not enough to force RBA interest rate cut
- 3 high-yield dividend shares you won't need to babysit
- Why Jumbo Interactive Limited has rocketed 23% today
- Why the Pro Medicus Limited share price is rocketing today
- 10 tips to save you thousands of dollars each year
- Big four banks: more capital required says APRA
- Is REA Group Limited under threat?
