Australian stocks fell on Monday.
- S&P ASX 200: 5,232.90 -46.79 -0.89%
- All Ordinaries: 5,267.40 -41.82 -0.79%
- AUD/USD: 0.7332 -0.0011 -0.15%
The Australian market slipped on the first day of a new trading week, eating into last week’s five-day rally which added 4.5% to the ASX 200 index.
All sectors were lower, led by energy stocks which dropped almost 2.5%. Oil Search was down more than 4% to $7.34 and Woodside Petroleum 1.8% to $32.02.
The major banks all lost ground, with the Commonwealth weaker by 1.1% to $74.65.
Blackmores, the vitamin company, continued its fall, losing more than 6% to $132.58. However, it is still the most expensive stock on the ASX and a long way from the $29 share price of a year ago.
Among retail stocks, Dick Smith lost more than 4% to $1.40.
The top stories Monday:
2. The big challenges facing Australian banks, according to Shayne Elliott, the CEO designate at the ANZ Bank.
3. The consumer watchdog says NO. The Australian Competition and Consumer Commission (ACCC) is planning to knock back a new smartphone taxi booking app to rival Uber over fears that it will reduce competition.
4. Oil blues. Santos is shedding 200 jobs, mostly from its Adelaide head office, as the energy producer cuts under pressure from falling oil prices. Sanbtos closed down 0.67% to $5.93.
5. High grade gold find. Emmerson Resources struck a gold rich zone at its Mauretania prospect in the Northern Territory. Its shares closed 22.8% higher at $0.043. Evolution, which has a 65% share in the prospect, was up more than 11% higher at $1.50.
6. 5 things every modern graduate should know about workplace etiquette. The latest generation of graduates entering the workplace has grown up connected to mobile devices and social media.