Australian stocks fell heavily today, with the ASX200 losing more than 1% after breaking through 5,800 yesterday.
ASX 200: 5,763.20 -70.70 -1.21%
All Ordinaries: 5,796.70 -65.54 -1.12%
AUD/USD: 0.7607 +0.0019 +0.25%
Following a mixed lead from Wall Street, all major sectors saw heavy selling across the board, as the local market couldn’t maintain its recent momentum after two straight days of 1% increases.
Resources and Energy stocks led the declines, with both indexes losing 2.71% and 2.23% respectively. Weaker iron ore prices seemed to weigh on the big miners, with BHP down 2.79% while Rio Tinto lost 3.55%.
Energy stocks also struggled following sharp drops in oil. Origin Energy led falls with a loss of 3.25% while Woodside Petroleum finished 1.85% lower.
The ASX200 Financials Index was down by 1.56%. Among the big banks, Westpac was down 2.7%, while NAB and ANZ both lost more than 2%. CBA was down 0.8%, and Bendigo & Adelaide Bank led the regionals lower with a fall of 2.45%.
Bellamy’s, the maker of organic baby food, led gains with a 9% after coming out of a trading halt with news that it had completed a capital raising.
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