Good afternoon and welcome to Market Close – I’m Isaac McIntyre. The ASX has closed down today, losing -0.49% in a dour end to what had been a relatively strong Week 30; up to this arvo’s trade, at least.
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No great surprise the market has dropped, especially with iron prices denting price action for miners across the board. Banks haven’t done much better either.
Materials plummeted a huge -1.84% to close today. Financials dropped -0.67%.
Not everything was so sombre, though, with Energy leaping +1.5% and IT avoiding what was largely a down day with a modest +0.28% rise.
Newmont (ASX:NEM) defied its sector dip too; the $10.3 billion gold miner advanced 3.7% after reporting a quarterly adjusted net income US$1.6 billion. Those tidy quarter profits were more than most had tipped.
Elsewhere in the green, KMD Brands (ASX:KMD) added +4.4% through to Friday’s doors closing after bringing ex-Qantas chief Carla Webb-Sears on board.
And microcap Gold Mountain (ASX:GNM) exploded +4,400% (cheers ADVFN.com).
On the other side of the bourse, BHP (ASX:BHP) retreated -1.9% while Fortescue (ASX:FMG) slipped -3.4% through a tough day for Oz mining majors.
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BPH Global Ltd (ASX:BP8) had the worst of it on Friday, though, with the plant-focused biotech company diving -33.3%. Holders on the HotCopper forums were left miffed after the brutal price action came on zero news.
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