Australian Investment Blog

• After a weak lead from overseas, our market started the day lower and continued to fall from there. The ASX 200 finished the day down 48 points (-0.8%) to 5725, erasing most of yesterday’s gain.• The momentum to the downside increased after the first numbers of the day. The Construction Work done q/q was down -2.4% on a forecast number of -1.5%.• The Consumer Staples sector was the weakest in today’s market. Woolworths (WOW) was down 59c (2.1%) to $27.94, Wesfarmers (WES) down 68c (-1.5%) to $43.40, and Treasury Wine Estates (TWE) down 17c (3.2%) to $5.20. • The resource sector also led the bear charging south. BHP Billiton (BHP) closed 48c lower (-1.6%) at $29.34 and RIO Tinto (RIO) -98c (-1.7%) at $57.31.