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Additional Information
Market: ASX 200
Sector: Aerospace
Epic: ASX200
News: Latest news
Web Site: Australia Market Wrap
Other Articles: 18-03-201018-03-201018-03-2010

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Thursday March 18, 09:06The drugs work: Biocompatibles sees further good sales growth ahead

After better-than-expected sales growth in the 2009 full year, the drug-eluting beads maker forecasts more growth this year while the Oncology Products Division revs up the pace of product trials.

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Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Thursday, January 08, 2009

Aussie resource stocks slam market into reverse

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Finally local shares caught the sell-off fever, following large gains since November.  Overnight falls on Wall Street and falling commodity prices left little direction for the market to go – but down. 


Asian markets all reversed course with Hong Kong and Japanese markets down over three per cent respectively.


The S&P/ASX 200 closed down 85.4 points, or 2.3%, at 3694.3.


Miners – sold off amidst profit taking


Overnight falls in the price of oil and most commodity prices sent investors to the sell-side of their mining investments.  Very few mining stocks increased in a reminder of the bad old days of 2008.


BHP Billiton (ASX:BHP)was down $1.85, or 5.67%, to $30.75, Rio Tinto (ASX:RIO)lost $2.01, or 4.28%, to $44.92, Fortescue Metals (ASX:FMG) fell 18 cents, or 7.9%, at $2.09 and Mirabela Nickel (ASX:MBN) was steady at $1.60.


Gold stocks were also sold down as gold retreated overnight.  Lihir Gold (ASX:LGL) gave up 14 cents, or 5.36%, to $2.47 and Newcrest Mining (ASX:NCM) lost $1.44, or 4.85%, to $28.25.


Oil stocks were falling all day, Santos (ASX:STO) was down 49 cents, or 3.22%, to $14.72 and Woodside Petroleum (ASX:WPL) was $2.17, or 5.6%, to $36.60.


Banks down - but treated less harshly


Bank stocks were weaker as ANZ Bank (ASX:ANZ) lost 17 cents to $15.18,  Commonwealth Bank (ASX:CBA) was down 38 cents to $28.57, NAB (ASX:NAB) lost 13 cents to $20.76 and Westpac (ASX:WBC) fell 27 cents at $16.60.  Macquarie Group (ASX:MQG) was hammered $1.93, or 5.72%, to $31.82 after warning of a tough fourth quarter.


Wesfarmers (ASX:WES) bucked the trend, up 25 cents at $25.87 and Harvey Norman (ASX:HVN) lost nine cents to $2.51.


The Australian dollar lost a lot of ground falling back to 70 US cents.

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