The ASX 200 lost 0.92% today, taking the benchmark index lower by 0.20% for the week.

The local market was trading in the red since the opening bell, with miners hit especially hard.

The Mining sector was the worst performer today, falling by more than 4% following another 6% plunge in iron ore prices overnight to US$106.50/t, from May’s record levels of US$233/t.

Fortescue Metals (ASX:FMG) was the biggest laggard in the sector, down 11.5%. The FMG share price has now lost almost 17% this week on weaker China steel demand.

Gold miners also fell as metals took a little dive overnight. Northern Star (ASX:NST) dropped 4.5%, and Newcrest Mining (ASX:NCM) by almost 3%.

The IT sector was the beacon of light in a rough market today, rising by 1.5%.

Afterpay (ASX:APT) and Wisetech Global (ASX:WTC) led the sector, each rising by 3.5% on no news.

Meanwhile, financial services data provider IRESS (ASX:IRE) fell by almost 11% after takeover talks with EQT Funds Management fell through. EQT had offered IRE $15.91 a share.


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Luxury goods retailer Cettire (ASX:CTT) rose by 16% on no news.

Biotech high flyer Imugene (ASX:IMU) rose another 8%, after presenting its PD1-Vaxx cancer checkpoint immunotherapy program at the ESMO Congress 2021 annual meeting in Paris. The IMU share price is now up 58% over the past month.

JB Hi-Fi (ASX:JBH) and Cleanway Waste Management (ASX:CWY) were both up by 2.5% after releasing their annual reports today.


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AGL Energy (ASX:AGL) fell 5%, and hit its 52-week low of $5.58 earlier today, before closing at $5.61.

The company has been on a bad run, reporting a 33% drop in profits for the full year as wholesale electricity prices continue to fall in Australia. Energy generations costs have been falling due to lower gas prices as well as new sources of  energy such as renewables.