STOCKS SLUMP: What you need to know

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Having fallen below the 5,000 point level in early trade in the wake of last Friday’s terrorist attacks in Paris, the ASX 200 managed to crawl off the canvas in the latter parts of Monday’s session, eventually closing the day down 0.94%.

First, the scoreboard.

  • ASX 200 5003.8000 , -47.46 , -0.94%
  • All Ords 5064.5 , -47.26 , -0.92%
  • AUD/USD 0.7111 , -0.0016 , -0.22%

Across the individual sectors winners were few and far between.

Reflective of its standing as a safe haven among investors, the All Ordinaries gold index was the standout performer, adding 2.68%. Elsewhere energy jumped 1.6%, inspired by a modest 1% gain in US crude futures, while telecommunications closed up 0.31% on the back of defensive buying.

On the other side of the ledger consumer staples, financials and industrials all finished with declines of more than 1.2%. Information technology, materials, consumer discretionary and utilities finished with smaller losses of between 0.46% to 0.76%.

Reflective of the risk off tone in the Australian market, US stock futures are currently down 0.45%, having fallen by more than 1% on Friday.

The top stories Monday:

1. Here’s how much fund manager fees are eating into your investment returns. In what will surprise few, there is little correlation that suggets higher fees equates to higher investment returns.

2. The true state of China’s economic rebalancing, and indeed it’s overall economic growth rate, continues to be a hot topic of debate across markets. Here’s one analyst who believes the economy is growing far less than the 6.9% rate reported by the government.

3. Japan’s economy is back in recession, recording its second quarterly decline in growth. Weak business investment and a sharp decline in inventory levels led to the headline decrease.

4. While they dipped 3.6% having hit a record high in September, Australians bought the most new cars on record in the 12 months to October.

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