The S&P / ASX 200 Index (^AXJO) (ASX:XJO) has dropped 0.1% to finish at 5,105.6, despite the Reserve Bank cutting the official cash rate as expected, by 0.25%, and three of the four major banks announcing that they would pass on the rate in full or more. The gold sector was the worst performer, losing 3.5%, while the A-REIT (property trust) sector gained 1.9%.
Here are the top five best performing stocks in the index.
- Atlas Iron Limited (AGO.AX) jumped 5.4% to 88.5 cents
- GPT Group (GPT.AX) gained 4.5% to $3.70
- Independence Group (IGO.AX) rose 4.4% to $3.60
- Billabong International (BBG.AX) added 3.5% to 44.5 cents
- Mirvac Group (MGR.AX) climbed 3.5% to $1.65
These stocks were the losers on the day.
- Resolute Mining (RSG.AX) dropped 10.8% to 70.5 cents
- Flight Centre (FLT.AX) lost 5.7% to $43.74
- Silver Lake Resources (SLR.AX) fell 5.4% to 70 cents
- Evolution Mining (EVN.AX) closed down 5.3% at 80.5 cents
- Virgin Australia Holdings (VAH.AX) slipped 4.6% to 41.5 cents
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Motley Fool writer/analyst Mike King owns shares in Silver Lake Resources and Flight Centre.