The Australian Securities Exchange closed lower today compared to the previous session, losing 21.3 points to finish at 5,400.665 points. The market hit a high of 5,422 points today.
The Australian Securities Exchange (ASX) closed lower today compared to the previous session, losing 21.3 points to finish at 5,400.665 points, The Sydney Morning Herald reported. The market hit a high of 5,422 points today.
A number of mining companies fell on the ASX today. Fortescue Metals Group (ASX:FMG), an iron ore producer and explorer operating in Western Australia, lost $0.24, or 4.21 percent, falling to $5.46. Another iron ore company, Arrium (ASX:ARI), also experienced losses on the ASX, dropping $0.05, or 3.33 percent, to $1.45.
Still, some mining companies saw gains on the ASX. Whitehaven Coal (ASX:WHC) rose the most, increasing $0.035, or 2.36 percent, to reach $1.518. OZ Minerals (ASX:OZL), an Australia-based copper, gold and silver miner, gained $0.08, or 2.34 percent, reaching $3.499.
Overall, the ASX lost 0.2 percent this week after investors cashed in bank shares when three of the four major banks traded ex-dividend payments, The Sydney Morning Herald said. A negative lead from equity markets in both the United States and Europe also weighed on the ASX today, as did the European Central Bank’s decision to cut interest rates.