The market was also weighed by the major banks, who all took losses today.
The S&P/ASX 200 index closed 25 points down to finish at 5,631.
The value of trades was $3.92 billion on volume of 628 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), National Australia Bank Limited (ASX:NAB) and Commonwealth Bank of Australia (ASX:CBA).
On the futures market the SPI is 18 points down.
Company news
Shares in Panorama Synergy Limited (ASX:PSY) have shot up almost 50 per cent on news of a significant breakthrough in optical readout technology.
Fairfax Media Limited’s (ASX:FXJ) proposed $50 million purchase of Canberra based online property portal All Homes has been given the green light by Australia’s competition regulator.
Fortescue Metals Group Limited (ASX:FMG) has achieved a record breaking August, shipping 15.16 million tonnes of iron ore on 82 ships, breaking both previous records.
Sydney Airport Limited (ASX:SYD) is eyeing higher duty-free revenues after appointing a German operator as its new duty free partner.
Australia’s competition regulator has outlined a number of issues with Expedia's proposed takeover of online travel booking company Wotif.com Holdings Limited’s (ASX:WTF).
Online job outsourcing company Freelancer Limited (ASX:FLN) has launched a domain and website marketplace called Freemarket.com.
Best and worst performers
The best performing sector was consumer staples adding 0.6 per cent to close at 10,149. The worst performing sector was real estate investment trusts, losing 0.9 per cent to close at 1,151 points.
The best performing stock in the S&P/ASX 200 was AWE Limited (ASX:AWE), rising 3.68 per cent to close at $1.83. Shares in Recall Holdings Limited (ASX:REC) and Breville Group Limited (ASX:BRG) also closed higher.
The worst performing stock was Lynas Corporation Limited (ASX:LYC), dropping 5.88 per cent to close at $0.16. Shares in Incitec Pivot Limited (ASX:IPL) and Mineral Resources Limited (ASX:MIN) also closed lower.
Commodities
Gold is trading at $US1,271 an ounce.
Light crude is $2.66 up at $US95.54 a barrel.
The Australian dollar is buying $US0.9341
