Australian stocks ended an eight session winning streak.
- S&P ASX 200: 5,451.30 -7.17 -0.13%
- All Ordinaries: 5,533.90 -5.00 -0.09%
- AUD/USD: 0.7517 -0.0074 -0.97%
The local market was treading water for most of the day, ending the session in negative territory but still leaving the ASX 200 up more than 3% this month.
Today the big miners dragged the rest of the market down. BHP lost 1.9% to close at $19.83.
Rio Tinto dropped 2.3% to close at $48.99 despite saying it’s on track to meet its guidance of 330 million tonnes of iron ore for the year.
The major banks were mixed, with Westpac down 0.9% to $30.02 but the ANZ up 0.1% to $24.99.
The top stories Tuesday:
1. Eagle Boys in voluntary administration. The founder is comparing it to the collapse of Dick Smith.
2. Positioning to make money from the NBN. Mobile sim card company amaysim is buying broaband group AusBBS.
3. The US election. Donald Trump’s wife appears to have plagiarised a 2008 Michelle Obama speech for her convention address.
4. Alibaba is opening an Australian office. Jack Ma’s online trading platform, Alibaba, is expanding its presence in Australia and New Zealand
5. Startups thrive in chaos. BlueChilli founder and CEO Sebastien Eckersley-Maslin on Australia’s political instability.
6. Seeking returns. The 5 best, and worst, performing Australian share funds for 2016.
7. Market volatility. The number of people actively trading shares online in Australia is falling.
8. “ARE YOU MUSLIM?” The stunning moment Pauline Hanson realised Sam Dastyari’s background on live TV.