The local share market dropped again today, extending on a three-day string of declines. The miners caused most of the damage after a bad night for commodity markets.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.3% to 5440 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.3% to 5502 points
- AUD/USD at US 74.72 cents
- Iron Ore at US$77.30 a tonne, according to the Metal Bulletin
- Gold at US$1,189.34 an ounce
- Brent oil at US$47.63 a barrel
BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) crashed 4.1% and 4.4% today after iron ore prices fell below US$80 a tonne.
South32 Ltd (ASX: S32) also shed 3.2%, with Santos Ltd (ASX: STO) and Fortescue Metals Group Limited (ASX: FMG) down 3% and 5.3%, respectively.
The gold miners were mixed today. Independence Group NL (ASX: IGO) plunged 5.3% but Silver Lake Resources Limited. (ASX: SLR) rallied 6.3%.
Outside the resources sector, Vocus Communications Limited (ASX: VOC) tumbled another 4.1%. Amaysim Australia Ltd (ASX: AYS) also shed 9.7%, although TPG Telecom Ltd (ASX: TPM) rebounded 2%.
Spark New Zealand Ltd (ASX: SPK) was one of the market's best performers today. It rose 4.2%. JB Hi-Fi Limited (ASX: JBH) also jumped 3.3%.
Here are Wednesday's top stories:
- Is the RBA about to raise interest rates?
- Hammered: Why Vocus Communications Limited is being destroyed today
- Dreamworld to reopen: Why I think Ardent Leisure Group shares are a sell
- 3 software shares to benefit from the automation trend
- Hammered: Are Amaysim Australia Ltd shares a bargain buy?
- Why I'm selling my Bendigo and Adelaide Bank Ltd shares
- What everybody needs to know before buying Medibank Private Ltd shares
