Iron ore price slump causes ASX to sag 0.4%
Australia’s S&P/ASX 200 share index dropped 0.4% today to 6631.30 off the back of a lagging iron ore price which fell roughly 3.5%.
It comes with no surprise that the miners were hit with BHP falling 2.25% and Rio Tinto (RIO) down 1.33%. The banks also played a factor in dragging down the index with Commonwealth Bank (CBA) and ANZ down around 1%.
Conversely, CSL bounced back from a red day yesterday gaining 1.17%.
Gainers and Losers
The biggest gainers on Tuesday were:
- Reliance Worldwide +4%
- Shopping Centres Australasia +3.1%
- Xero +2.5%
- Collins Foods +2.4%
- SkyCity Entertainment +2.3%
The biggest declines were:
- Mesoblast -15.2%
- Altium -6.8%
- Mineral Resources -6.8%
- Whitehaven Coal -5.9%
- Westgold Resources -5.6%
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This article does not take into account the investment objectives, financial situation or needs of a particular person or entity. Before acting on any investment strategy or advice you should first consult with your current ASIC accredited investment professional or seek out a compliant investment professional for such.