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Among others, Newcrest Mining, Atlas Iron and Iluka Resources fell on the ASX today.
The Australian Securities Exchange (ASX) hit a high of 4,783.3 points and a low of 4,732.3 points today, The Sydney Morning Herald reported. At last, it sat at 4737.703 points.
Among the mining companies listed on the ASX, more experienced losses than saw gains.
Newcrest Mining (ASX:NCM), an Australia-based gold mining company, had one of the biggest falls on the ASX today. Dropping $1.01, the company hit $12.35. Iron ore miner Atlas Iron (ASX:AGO) also fell, dropping $0.05 to hit $0.781. Iluka Resources (ASX:ILU) sank $0.59, to $10.336.
Gold, silver and copper miner OZ Minerals (ASX:OZL) fell $0.16, to $4.164, while Mineral Resources (ASX:MIN) declined $0.26, to $8.494.
Steven Dooley, head of research at ForexCT, told The Sydney Morning Herald that a number of factors are affecting markets: unemployment is rising and economic growth is weakening, making business sentiment “soft.”
“It’s all building into a powerful story for international traders that the Australian economy is weakening,” he said.