Finance, mining shares dominate market losses

Finance and mining stocks dominated the losses with BHP Billiton slipping 0. 75 per cent and Rio Tinto nearly 0. 2 per cent. Atlas Iron dropped 6. 3 per cent and gold miner Newcrest fell 1. 5 per cent.

Among the other companies reporting to the market today, toll road operator Transurban fell 0. 9 per cent and engineering firm Downer EDI dropped 4. 2 per cent.

The Australian dollar strengthened this afternoon after the Reserve Bank confirmed the official interest rate would remain at a record low of 2. 5 per cent for another month.

Healthcare stocks were a bright spot of the market, dominated by a surge of 10. 3 per cent for hearing implants firm Cochlear.

ANZ and the Commonwealth Bank led the losses by the major banks with each ending down 0. 6 per cent. Westpac fell 0. 5 per cent and National Australia Bank 0. 2 per cent.

Read more here: ABC


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