Thanks afternoon crew. End-of-day summary: Mining companies...

Thanks afternoon crew.

End-of-day summary:

Mining companies dragged the share market lower after a surprise China rate cut appeared to unnerve financial markets, sending iron ore prices to a three-month low.

The ASX 200 declined six points or 0.08% to its first loss in four sessions. The big three iron ore miners shed between 0.67% and 2.23% as ore prices slumped 3.6% in China. Ore hit a session low after the People's Bank of China cut the five-year loan prime rate - a key reference for mortgages - by 25 basis points.

Other notable falls included South32 (-3.4%, copper weakness), ANZ (-2.18%, cleared to acquire Suncorp's banking division) and Star Entertainment (-19.64%, fresh inquiry into NSW casino licence).

US futures declined this afternoon ahead of the resumption of trade tonight after the President's Day long weekend. S&P 500 futures slid 0.3%.