The local share market was hammered on Wednesday, following the lead set by international markets. The BHP Billiton Limited (ASX: BHP) share price was hit particularly hard, falling 2.9%, while the Commonwealth Bank of Australia (ASX: CBA) share price dropped 2%.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.6% to 5684 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.5% to 5732 points
- AUD/USD at US 76.61 cents
- Iron Ore at US$87.59 a tonne, according to the Metal Bulletin
- Gold at US$1,245.20 an ounce
- Brent oil at US$50.61 a barrel
The iron ore price was hammered overnight which caused the BHP share price to fall sharply. The Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) share prices fell too, down 5.3% and 2.6% respectively.
The banks were down too. The Australia and New Zealand Banking Group (ASX: ANZ) share price was down 2.6% and Westpac Banking Corp (ASX: WBC) shed 2.4%.
Elsewhere, there were some more positive results. The Premier Investments Limited (ASX: PMV) share price was up 4.1% for the day and Sky Network Television Ltd (ASX: SKT) lifted 4.1%.
Nufarm Limited (ASX: NUF) also rose 3.2% after its earnings results, while Blackmores Limited (ASX: BKL) and Bellamy's Australia Ltd (ASX: BAL) gained another 2.3% each after yesterday's rally.
Finally, the gold miners benefited from a higher gold price. The St Barbara Ltd (ASX: SBM) share price was up 2.8% and Newcrest Mining Limited (ASX: NCM) rose 1.7%.
Here are Wednesday's top stories:
