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ASX All Ords trades lower, but major miners buck trend with big gains

The major miners locked in a second day of strong gains, with BHP Billiton climbing another 4.1% to $16.09. Gold and iron ore were stronger, oil was weaker.


The Australian Share Market ignored modest gains on Wall Street overnight, opening softer and trending lower across the session.

An hour before the close of trade for the week, the ASX All Ordinaries was off 0.8% to 4989.

Bucking the trend though is the major miners, locking in a second day of strong gains, as investors did a bit of value investing - or bottom fishing - depending on your view point.

BHP Billiton (ASX:BHP) added another 4.1% to $16.09, while Fortescue Metals Group (ASX:FMG) zoomed up 3.6% to $1.87.

Joining the iron ore party, Rio Tinto (ASX:RIO) added 2.5% to $41.32, while the continuing lift in the gold price powered Newcrest (ASX:NCM) another 4.0% higher to $14.88.

It was more a mixed bag in the energy sector, with Oil Search (ASX:OSH) the best adding up 0.6% to $6.79.

Missing the boat was Santos (ASX:STO) which fell 1.6% to $3.09, while Woodside Petroleum (ASX:WPL) was down 1.2% to $26.80.


Big 4 banks

ANZ Bank (ASX:ANZ) down 1.6% to $23.90; Commonwealth Bank (ASX:CBA) down 1.6% to $76.12; National Australia Bank (ASX:NAB) down 1.9% to $26.36; Westpac (ASX:WBC) down 1.5% to $30.01.

Other banks, financials and industrials

AMP (ASX:AMP) down 1.1% to $5.21; Bank of Queensland (ASX:BOQ) down 1.9% to $12.55; Bendigo and Adelaide Bank (ASX:BEN) down 1.5% to $10.21; Macquarie Group (ASX:MQG) down 2.1% to $63.51; Suncorp (ASX:SUN) down 1.6% to $11.32; Telstra (ASX:TLS) down 0.7% to $5.59.


JB Hi-FI (ASX:JBH) down 2.2% to $21.92; Wesfarmers (ASX:WES) down 1.3% to $42.35; Woolworths (ASX:WOW) down 2.0% to $23.45.


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