Local shares handed back most of yesterday's gains during today's session following a mostly down night for international markets. Australia's listed infant formula stocks were hit hard, which certainly didn't help the market's cause.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1% to 5,444 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1% to 5,502 points
- AUD/USD at US 74.13 cents
- Iron Ore at US$78.36 a tonne, according to the Metal Bulletin
- Gold at US$1,173.85 an ounce
- Brent oil at US$53.55 a barrel
Bellamy's Australia Ltd (ASX: BAL) dropped 43.5% after it issued a business update this morning with sales now expected to be lower than in the last financial year.
Shares of Bellamy's rival, a2 Milk Company (Australia) (ASX: A2M), also fell 10.2% on the news, with Blackmores Limited (ASX: BKL) ending the session 3.6% lower.
The miners ended today's session lower as well, despite a strong lift in the prices of iron ore and oil. BHP Billiton Limited (ASX: BHP) tumbled 2.3%, Fortescue Metals Group Limited (ASX: FMG) shed 3.2% and South32 Ltd (ASX: S32) lost 1.7%.
Meanwhile, Woodside Petroleum Limited (ASX: WPL) closed 1.9% lower for the day.
Premier Investments Limited (ASX: PMV) also fell 2.7% for the session following its annual general meeting this morning.
Gold miners EVOLUTION FPO (ASX: EVN) and St Barbara Ltd (ASX: SBM) were among the best for the day, rising 4.7% and 2.3%.
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) also rose 3.6% for the day.
Here are Friday's top stories:
- Why the Bellamy's Australia Ltd share price just plunged 43%
- Should you buy 2017's second-half superstars?
- Why these 4 shares are charging higher today
- Are Telstra Corporation Ltd shares a buy for its fully franked 6.2% dividend?
- Top broker slaps $9.80 price target on TPG Telecom Ltd shares
- Is Woolworths Limited no longer a Dividend Aristocrat?
