{"id":62126,"date":"2013-07-08T17:13:01","date_gmt":"2013-07-08T07:13:01","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/07\/08\/australian-stocks-what-happened-today-124\/"},"modified":"2013-07-08T17:13:01","modified_gmt":"2013-07-08T07:13:01","slug":"australian-stocks-what-happened-today-124","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/07\/08\/australian-stocks-what-happened-today-124\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"

\n\tBy Stephen Hogan<\/a>, Senior Private Client Adviser, Equities\/Derivatives<\/p>\n

\n\tAustralian Market<\/strong><\/p>\n

\tThe Australian market (XJO<\/span>) closed down -32.2 points or 0.67% to 4809.5 today. The market spent some time briefly in the morning in positive territory, creating a high of 4853.5 points before moving lower, just before 1pm<\/span> we made a low of 4786.1. There was a good move up from the low that stalled and ranged for the afternoon. On Friday the Dow Jones rose 147.29 points or 0.98% to 15,135.80 with some positive jobs data released. The best performing sector of the day was Energy, adding 0.67% while the worst was the Gold sector, falling -7.63%.<\/p>\n

\n\tIn economic news, The ANZ<\/span> job ads series has been released today. According to ANZ<\/span>, employment has declined by 1.8% in June, after a 2.5% decline in May. ANZ<\/span> also reports that employment was 19% below the figures of June last year with Western Australia showing the steepest decline, falling 50% year on year.<\/p>\n

\n\tWhitehaven<\/span> Coal Limited ((WHC<\/span>)) workers are protesting today, after over 50 Gomeroi<\/span> traditional owners gathered outside the Maules<\/span> Creek project in north western NSW. WHC<\/span> workers walked off the job this morning, saying the work at Maules<\/span> Creek will destroy local heritage. Gomeroi<\/span> traditional owner Stephen Talbot says the Maules<\/span> Creek mine will clear more than 4,000 acres (1,618.74 hectares) of ''culturally significant forest, artefacts<\/span> and cultural values'' which have not been properly assessed. The $767 million mine was only approved for construction last Thursday after a 3 year period.<\/p>\n

\n\tRio Tinto Limited ((RIO)) has had their copper mine Oyu<\/span> Tolgoi<\/span> cleared for shipments by Mongolia, after two delays from the initial shipping start date in June. The U.S. $6.6 billion Copper mine is set to start shipments this week (9th<\/span> July) as tensions between the miner and the Mongolian government have died down. Delays came about when the Mongolian Government disagreed on cost, tax payments and locals in management with Rio.<\/p>\n

\n\tAUD is currently trading at $0.9063, up $0.0001 against the USD.<\/p>\n

\n\tTop Performers<\/strong><\/p>\n

\n\tDiscovery Metals Limited ((DML<\/span>)) up $0.015 or 10.71% to $0.155<\/p>\n

\n\tBillabong<\/span> International Limited ((BBG<\/span>)) up $0.025 or 9.62% to $0.285<\/p>\n

\n\tKaroon<\/span> Gas Australia Limited ((KAR<\/span>)) up $0.44 or 7.89% to $6.02<\/p>\n

\n\tLinc<\/span> Energy Limited ((LNC<\/span>)) up $0.07 or 7.18% to $1.045<\/p>\n

\n\tTransfield<\/span> Services Limited ((TSE<\/span>)) up $0.05 or 6.67% to $0.80<\/p>\n

\n\tBottom Performers<\/strong><\/p>\n

\tBeadell<\/span> Resources Limited ((BDR<\/span>)) down -$0.075 or -12.93% to $0.505<\/p>\n

\tResolute Mining Limited ((RSG<\/span>)) down -$0.065 or -10.92% to $0.53<\/p>\n

\tPerseus<\/span> Mining Limited ((PRU<\/span>)) down -$0.06 or -10.71% to $0.50<\/p>\n

\tRegis Resources Limited ((RRL<\/span>)) down -$0.36 or -10.59% to $3.040<\/p>\n

\tMedusa Mining Limited ((MML<\/span>)) down -$0.18 or -9.84% to $1.65<\/p>\n

\n\tOur Comments<\/strong><\/p>\n

\n\tMore extreme volatility today with some pretty extreme moves in both directions intraday. Weakness was really material based today with bigger losses concentrated on iron ore plays and especially the gold sector. It was interesting to notice that the oil and gas plays all outperformed the market and actually traded quite well.<\/p>\n

\n\t
\n\t(For a more comprehensive summary of last night’s market action see FNArena’s<\/span><\/a> Overnight Report.)
\n\t <\/p>\n

\n\tRe-published with permission. Views expressed are not by association FNArena's<\/span> (see our disclaimer).<\/em><\/p>\n

\n\tStephen Hogan is an Authorised<\/span> Representative of Novus<\/span> Capital. Authorised<\/span> Representative No.345411 – http:\/\/www.stephenhogan.com.au<\/a><\/em><\/p>\n

\n\tNovus<\/span> Capital Limited ("Novus<\/span>") is holder of Australian Financial Services Licence<\/span> No 238 168. Novus<\/span>, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and\/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this e-mail or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised<\/span> and also may change without notice to you, particularly if based on past performance or relate to a future matter.<\/em><\/p>\n

\n\tNovus<\/span> believes that any information or advice (including any financial product recommendation) contained in this document is accurate when issued but do not warrant its accuracy or reliability. Novus<\/span> is not obliged to provide you with updated information or advice if circumstances change. Novus<\/span>, its directors, officers, associates and employees exclude to the full extent permitted by law, all liability of any kind whether in negligence, contract, under a fiduciary duty or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, arising from or in connection with this e-mail or an attached document.<\/em><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62126"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=62126"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62126\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}