The Australian market started the month by following Wall Street down, with energy and mining stocks the biggest losers.
Here’s the scoreboard:
- S&P ASX 200: 5,860.80 -30.70 (-0.52%)
- All Ordinaries: 5,832.90 -29.02 (-0.50%)
- AUD/USD: 0.7629 +0.0024 (+0.32%)
In the US, the S&P 500 index closed down 0.9%.
On the local market, eight out of 10 sectors were weaker. Among energy stocks, Woodside Petroleum was down 1.8% to $33.88, Santos was down 2.9% top $6.93 and Oil Search 2.6% to $7.01.
BHP was down 2.2% to 30.340, Rio Tinto 1.4% to $56.41 and Fortescue 3.3% to $1.895. The banks were all weaker, led by the ANZ, down 0.52% to $36.45.
The top stories Wednesday:
1. Interest rates. Here’s proof Australians think the RBA is going to cut again.
2. The Yonder and Beyond Group, a technology accelerator, has bought a stake in the US-based social media music application PlayMeet, which is associated with the Estate of Michael Jackson.
3. Australia’s manufacturing sector is worse than Europe’s. AiGroup’s PMI printed its fourth straight month below 50.
4. Aeeris, a technology company with 100 corporate and government paying subscribers, listed on the ASX. The 25 cent shares closed at 23 cents.