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The Australian market tanked in light trade in the second last session of 2014 as investors ignored record highs on Wall Street to take profits.

Here’s the scoreboard:

  • S&P ASX 200: 5,416.60 -57.18 (-1.04%)
  • All Ordinaries: 5,392.30 -54.65 (-1.00%)
  • AUD/USD: 0.8129 -0.0002 (-0.02%)

The energy sector was hit hard, with Santos down more than 3% to $8.17, Woodside Petroleum weaker by 1.3% to $38.05 and Origin down 1.6% to $11.64.

The big banks were weaker, led by the ANZ which was down by 0.59% to $32.04.

Among the miners, Rio Tinto was down 0.62% to $57.69 and BHP 0.67% to $29.49.

And the top stories on Tuesday:

1. How to invest after the mining boom. CLSA has identified $40 billion of mixed-use tourism-related developments across Australia which are mostly being funded by direct foreign investment.

2. Become an expert in 2015. These meaningless phrases will make you sound like a stock market wizard.

3. A wild day in Greece. The local stock market fell as much as 11% before closing down about 4% after the final round of parliamentary presidential elections failed.

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