Australia's S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished lower on Tuesday.
Here's a quick recap of the Aussie market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.2%
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.1%
- AUD/USD at US 79.12 cents
- Gold at US$1,233 an ounce, up 0.5%
- Oil at US$46.18 a barrel, down 1.2%
Weighing on the market were shares of Fisher & Paykel Healthcare Corp Ltd (ASX: FPH), which fell 3.2%, and Suncorp Group Ltd (ASX: SUN), which fell 3%.
Fisher & Paykel announced that its CEO, Lewis Gradon, sold 280,000 shares for a total $3.1 million. The reason? To, "Facilitate House Purchase".
Almost always when a manager or anyone else sells shares in their company they are selling for one reason only: they think they can spend the money better elsewhere.
Suncorp did not release any material news.
Shares of Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) ended 1.8% and 1.7% lower, respectively.
At the other end of the market, Scentre Group (ASX: SCG) and Brambles Limited (ASX: BXB) were amongst the best-performers, rising 1.7% and 1.6%, respectively.
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