Local shares started the day off strong today, following the lead set by international markets, but the miners dragged the benchmark index lower after iron ore prices plunged overnight.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5327 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 5399 points
- AUD/USD at US 75.57 cents
- Iron Ore at US$72.68 a tonne, according to the Metal Bulletin
- Gold at US$1,230.33 an ounce
- Brent oil at US$46.92 a barrel
Junior miners Atlas Iron Limited (ASX: AGO) and BC Iron Limited (ASX: BCI) were among the hardest hit, shedding 16.7% and 22.7%.
BHP Billiton Limited (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) also lost 2.3% and 3.8%, while Rio Tinto Limited (ASX: RIO) dropped 3.4%.
The gold miners, on the other hand, mostly produced positive results as the gold price appears to have stemmed its losses. Beadell Resources Ltd (ASX: BDR) gained 6.9% and St Barbara Ltd (ASX: SBM) gained 4.4%.
National Australia Bank Ltd. (ASX: NAB) was the best of the banks, rising 1%, while Telstra Corporation Ltd (ASX: TLS) lifted 0.2%.
Elsewhere in the market, Aconex Ltd (ASX: ACX) continued its descent, slipping another 5.6%. iCar Asia Ltd (ASX: ICQ) also plunged 10.9% following the resignation of two directors.
REA Group Limited (ASX: REA) fell 4% as well, while Thorn Group Ltd (ASX: TGA) plunged 11.9% after its half-year earnings report.
OFX Group Ltd (ASX: OFX) was one of the market's best performers after yesterday's plunge. Its shares rose 7.8% while Oil Search Limited (ASX: OSH) rose 3.4%.
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