Australian Stock Report Market Wrap Up: Australian shares finish lower

SYDNEY - April 4, 2016 - PRLog -- Local shares finished lower today despite a positive start to the trading week.

"It was a disappointing fade for the Aussie market today, with the ASX 200 ultimately closing underwater after being ahead as much as 45 points at one point," said Chris Conway, head of research at the Australian Stock Report.

"Energy stocks were the major drag, with Woodside (WPL) off 2.7% and Santos (STO) down 4.3%," he added.

BHP Billiton (BHP) was another dead weight, down 2.7%. Rival Rio Tinto (RIO) shed 0.7%, whilst little brother Fortescue Metals (FMG) bucked the trend to add 1.2%.

Of the sectors that posted gains, none really stood out; healthcare and I.T. added 0.5% and 0.6% respectively, whilst utilities recorded the best percentage return with a modest 0.7% gain.

Commonwealth Bank (CBA) slipped 0.1% but the other big banks managed to end the day flat or slightly higher.

Macquarie (MQG) rose 0.8% after reiterating second-quarter guidance.

Big movers on the day included Saint Barbara Mines (SBM) which added 4.3%, whilst Whitehaven Coal (WHC) tumbled 8.5%. On the day the ASX 200 gave up four points (-0.1%) to settle at 4995.

-          ENDS -


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http://www.australianstockreport.com.au/trading-report/