Share market dips despite mining sector gains
The local share market is trading lower, despite modest gains for the mining sector.
The All Ordinaries index had fallen 25 points, or nearly 0.5 per cent, to 5,574 soon after 1:00pm (AEST).
The ASX 200 was down 26 points at 5,572.
BHP Billiton had risen 0.25 per cent and Rio Tinto 0.1 per cent, despite the continued weakness in the benchmark Chinese iron ore price which ended last week at $US83.60 a tonne.
However, those gains were modest compared to jumps of 1.5 per cent for Fortescue Metals Group and 1.2 per cent for gold miner Newcrest.
Atlas Iron had lost 0.9 per cent though.
Other than the miners, the losses were broad.
The big four banks were all lower, led by falls of 0.7 for NAB and Westpac. ANZ had lost 0.4 per cent and the Commonwealth was 0.3 per cent lower.
Energy stocks were also suffering, with Santos 1 per cent down and Woodside losing 0.75 per cent.
Health stocks were posting the biggest losses though, with private hospital operator Ramsay down 1.5 per cent as it went ex-dividend.
Hearing implants firm Cochlear had fallen 1.25 per cent and Ansell had lost 0.8 per cent.
Among the retailers, Myer had fallen 0.8 per cent, Harvey Norman 1.2 per cent and JB Hi-Fi 0.4 per cent.
Telstra bucked the market trend though, rising 0.3 per cent.
The Australian dollar was buying 93.7 US cents.
