Australian Stock Report Market Wrap Up: Local shares shed early gains
Announcement posted by de2 Communications 11 Apr 2016
“Try as it might, the Aussie market couldn't muster a positive finish today, instead closing a handful of points lower,” said Chris Conway, Head of Research at the Australian Stock Report.
“Gains in energy and materials stocks weren't quite enough to overcome weakness in the banks, consumer staples and healthcare plays,” he added.
Amongst the oilers, Santos (STO) led all comers, adding 3.1%, ably supported by Oil Search (OSH), which tacked on 2.3%.
Of the big miners, BHP Billiton (BHP) and Rio Tinto (RIO) both put on around 2.3%, whilst little brother Fortescue (FMG) jumped an impressive 7%.
Of the big four banks, all of which closed underwater, National Australia Bank (NAB) was the biggest loser, shedding 0.8%.
A highlight of the day was a new $1b software firm on the exchange, after Wisetech Global (WTC) popped 16% on its debut.
A lowlight was the 13% plunge in Blackmores (BKL).
On the day the ASX 200 shed six points (-0.1%) to settle at 4932.
- ENDS -