There was a selling frenzy on the ASX today following on from the usual global concerns, especially the PIIGS, with the Aussie equity market taking overnight bourse leads and plunging.
Resource stocks were savaged, with only one diamond in the rough being Equinox Minerals (ASX: EQN) which rallied one per cent, as the other 19 biggest resource stocks by market capitalisation capitulated into the red.
Hardest hit was Aurora Oil & Gas (ASX: AUT) with a more than six per cent sell-off, as both Paladin Energy (ASX: PDN) and Mount Gibson Iron (ASX: MGX) fell by more than five per cent.
The big drops kept on coming, with Fortescue Metals Group (ASX: FMG) and Atlas Iron (ASX: AGO) shedding more than four per cent, with all three of Lynas Corporation (ASX: LYC), Alumina (ASX: AWC) and Macarthur Coal (ASX: MCC) dropping over three per cent.
Having a more modest fall of over two per cent, if there is such a thing, was Woodside Petroleum (ASX: WPL), Rio Tinto (ASX: RIO), Iluka Resources (ASX: ILU), BHP Billiton (ASX: BHP) and Gloucester Coal (ASX: GCL).
Outperforming the general market and only easing one per cent or more was Santos (ASX: STO), New Hope Corporation (ASX: NHC), Newcrest Mining (ASX: NCM), Oil Search (ASX: OSH) and OZ Minerals (ASX: OZL).
Having a 'not bad' day was Resolute Mining (ASX: RSG), which only gave up 0.45%.
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