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ALL ORDINARIES Index Down, BHP Shares Fall

Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is down by 0.5% at lunch.

Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is down by 0.5% at lunch.

The main culprit for the ASX’s fall at lunch is BHP Billiton Limited (ASX: BHP), it is down 2.62% with the oil price dropping by nearly US$5 per barrel over the weekend due to Saudi Arabia oversupply fears.

One of the major movements today is Metcash Limited (ASX: MTS), its shares are down 14% after reporting the loss of a major customer.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) shares have dropped by 1.8% so far after reporting its full year profit to investors this morning.

Iron ore business Fortescue Metals Group Limited (ASX: FMG) is down 1.3% after approving the US$1.3 billion Pilbara project.

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price is up 17% this morning after coming out of its trading halt after announcing it would making a $1.22 billion purchase of UK business John Guest.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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