Australian shares fell sharply today, in part due to a slowdown in sales for Coles and stronger-than-expected inflation figures, which reduce the likelihood of further interest rate cuts.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.5% to 5359 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.5% to 5442 points
- AUD/USD at US 76.87 cents
- Iron Ore at US$61.96 a tonne, according to the Metal Bulletin
- Gold at US$1,275.28 an ounce
- Brent oil at US$50.14 a barrel
Wesfarmers Ltd (ASX: WES) shares were slammed 5.7% following a slowdown in sales growth at its Coles stores. Woolworths Limited (ASX: WOW) fell a more respectable 0.5%.
Mining giant BHP Billiton Limited (ASX: BHP) was unable to enjoy the soaring iron ore price overnight. Its shares slumped 1.5%, while Rio Tinto Limited (ASX: RIO) gained 1.7%.
Meanwhile, major dividend shares also fell sharply. Westpac Banking Corp (ASX: WBC) shed 1%, Commonwealth Bank of Australia (ASX: CBA) dropped 1.4% and Telstra Corporation Ltd (ASX: TLS) fell 1%.
The rut continued for Bega Cheese Ltd (ASX: BGA) which fell 3%. Blackmores Limited (ASX: BKL) fell 6.3% as well.
Theme park owner Ardent Leisure Group (ASX: AAD) was slammed 14.9% following the disaster at its Dreamworld park yesterday. Village Roadshow Ltd (ASX: VRL) also shed 4.4%.
Medical device maker Nanosonics Ltd (ASX: NAN) soared 11.4% following an encouraging quarterly cash flow report.
Independence Group NL (ASX IGO), EVOLUTION FPO (ASX: EVN) and Ramsay Health Care Limited (ASX: RHC) also ended the session on top. They rose 2.4%, 0.9% and 1.5%, respectively.
Here are Wednesday's top stories:
- Tragedy hits Ardent Leisure Group's Dreamworld theme park
- Why Wesfarmers Ltd shares are getting crushed today
- Ardent Leisure Group shares fall 22% after Dreamworld tragedy
- Ramsay Health Care Limited reaffirms guidance, is time to buy shares?
- Here's why Lynas Corporation Limited shares skyrocketed today
- ResMed Inc. (CHESS) margins climb as Brightree points to growth
