Australian stocks fell for a second session with a flat Wall Street and weaker commodities dragging on the miners.
Here’s the scoreboard:
- S&P ASX 200: 5,590.30 -24.27 -0.43%
- All Ordinaries: 5,581.30 -22.23 -0.40%
- AUD/USD: 0.7363 -0.0012 -0.16%
On Wall St, the S&P 500 closed down 0.2%. On the local market, seven out out ten sectors were weaker, adding to Wednesday’s 1.6% loss.
The big miners lost ground with BHP dropping 2.87% to $25.51 and Rio Tinto 1.67% to $51.31. Among energy stocks, Woodside Petroleum was down 1.11% to $33.72 and LNG 6.78% to $3.64.
The major banks were weaker. The ANZ lost 1.2% to $32.15 and the NAB 0.53% to $34.10.
Gold stocks jumped. Northern Star was up 3.8% to $2.18, Ocean Gold 7% to $2.75 and Newcrest 7.8% to $11.85.
The top stories Thursday:
1. Macquarie Bank looks for record profits in 2016. It sees a result better than $1.6 billion. Its shares closed up 0.41% to $84.81.
2. On target. CIMIC, the former Leighton Holdings, has won $7 billion in new orders and expects to hit its profit targets for the full 2015 financial year. CIMIC closed up 1.71% to $23.76.
3. Property investment loans get more expensive. ANZ, Australia’s third-largest bank, has increased its variable interest rate on residential property loans for investors.
4. High-growth iron ore producer. Fortescue has increased iron ore shipments by one-third but output will be flat this year. Its shares lost 6% to $1.645.
6. New Zealand’s Reserve Bank has cut rates. The overnight cash rate was lowered by 25bps to 3.00%, in line with expectations.
7. Australian capital city house prices have quadrupled in the past 20 years. Risen four times more than weekly earnings.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.