The Australian market closed slightly weaker.
Here’s the scoreboard:
- S&P ASX 200: 5,335.20 -10.95 -0.20%
- All Ordinaries: 5,374.40 -10.17 -0.19%
- AUD/USD: 0.7119 -0.0071 -0.99%
Local investors followed Wall St, where the S&P 500 closed 0.3% down.
Six sectors closed lower and four higher. The banks were mostly slightly weaker and the big miners lost ground.
BHP lost 2.3% to $23.78 and Woodside Petroleum more than 2% to $29.64.
Harvey Norman added 4% to $4.14 after reporting a 7.1% rise in like-for-like quarterly sales.
Sirtex Medical, which has an innovative cancer treatment, plans to expand into more markets, including China and Japan. Its shares closed 9.6% higher at $37.94.
The top stories Wednesday:
3. Dick Smith cut its profit guidance. The electronics store says 2016 net profit is now expected to be $5 million to $8 million lower than previous guidance of $45 million to $48 million. Investors punished the retailer. Its shares dropped by one-third (33%) to $0.845.
4. Apple Pay is finally coming to Australia. Apple has partnered with American Express to take Apple Pay global.
5. Christmas is closer than you think. New South Wales is letting retailers trade 24 hours a day for two weeks before December 25.
6. Class wars. Only 2% of Australians think of themselves as upper class.
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