STOCKS SLUMP: Here's what you need to know

Steven Bowditch of Australia during the final round of the AT&T Byron Nelson at Irving, Texas. Photo: Tom Pennington/Getty Images

The miners and the banks led the Australian market down, losing some of Friday’s gains, on the back of a lower Wall Street and fears over Greece’s debts.

Here’s the scoreboard:

  • S&P ASX 200: 5,735.40 -41.80 -0.72%
  • All Ordinaries: 5,734.00 -40.90 -0.71%
  • AUD/USD: 0.7655 +0.0007 +0.10%

Wall St closed Friday with the S&P 500 down 0.6%. On the local market, nine out of ten sectors lost value, clawing back some of Friday’s 1.2% gain.

Westpac was down by 1.31% to $33.12, the ANZ 1.42% to $32.72, the NAB 0.85% to $34.03 and the Commonwealth 0.72% to $84.48.

Among the miners, BHP was down more than 1.35% to $29.19 and Rio Tinto 1.34% to $57.42.

The top stories for Monday:

1. Liver cancer treatment. Sirtex Medical announced that the results of trials had been well accepted by the medical community. Its shares were up 14.39% to $30.52.

2. Australian wages just fell for the first time in 6 years. But it’s not all bad news.

3. Manufacturing actually expanded. Good news on the economy with the release of the AiGroup’s performance of manufacturing survey which revealed the sector expanded for the first time in six months during May.

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