BHP Billiton recorded falls in third quarter production due to "challenging market conditions" in major commodity divisions. This was in line with market expectations but its share price fell. Overall the market was higher early but succumbed to profit taking and fear about US banks and fear whipped up about the recession.
Wesfarmers continued to rise on the back of improved headway made by its retailer, Coles Myer in increased quarterly sales against Woolworths.
The benchmark S&P/ASX200 index closed down 9.2 points, or 0.25%, to 3668.2.
BHP Billiton (ASX:BHP) was down 7 cents to $31.49, Rio Tinto (ASX:RIO) was up added 72 cents to $55.25, Fortescue Metals (ASX:FMG) was up 5 cents higher at $2.57, OZ Minerals was up 1.5 cents at 62 cents and Mirabela Nickel was up 5.5 cents, at $1.77.
Gold miners, Lihir (ASX:LGL) lost 3 cents, or 1.05%, to $2.84 and Newcrest Mining (ASX:NCM) was down 70 cents, or 2.4%, to $28.40.
In oil stocks, Santos (ASX:STO) was down 32 cents to $15.88 and Woodside Petroleum (ASX:WPL) was up 13 cents to $37.10.
Macarthur Coal (ASX:MCC) lost 10 cents to $4.20, Centennial Coal (ASX:CEY) was off 3.5 cents, at $1.985, Arrow Energy (ASX:AOE) was up 6 cents at $3.22 and Riversdale Mining (ASX:RIV) was up 10 cents, at $4.25.
Banks were mixed, ANZ Bank (ASX:ANZ) was off 2 cents to $16.35, Commonwealth Bank (ASX:CBA) was up 61 cents, or 0.8%, at $36.69, NAB (ASX:NAB) was down 6 cents to $21.10, Westpac (ASX:WBC) was down up 25 cents to $19.99 and Macquarie Group (ASX:MQG) was up 63 cents at $30.29.
Retailer Harvey Norman (ASX:HVN) was up 5 cents at $2.86 and Rupert Murdoch's media group, News Corp (ASX:NWS) was off 17 cents to $12.03. Telco, Telstra (ASX:TLS) was up 3 cents at $3.26.