The ASX200 gave up most of its early gains as the day wore on and then slipped further to close at 4591 once the Reserve Bank announced a 25 basis point increase in the cash rate.
David Jones “(ASX:DJS)”:http://www.cxo.com.au/articles/tag/David%20Jones/ dropped 30c or 5% to $5.54 while Wesfarmers (ASX:WES) nudged up 19c to $25.74 and Woolworths edged up 9c to $29.17
Fortescue Metals (ASX:FMG) lost 19c to close at $3.40 a fall of 5%, but BHP Billiton “(ASX:BHP)”:http://www.cxo.com.au/articles/tag/BHP%20Billiton/ moved up 33c to $36.65 and Rio Tinto (ASX:RIO) gained 88c to close at $57.73
James Hardie industries (ASX:JHX) was one of the better performing major stocks gaining 22c to $7.30
The banks were generally positive, Macquarie Group (ASX:MQG) up $1.05 to $53.00, ANZ up 20c to $23.30 but the National Australia Bank was down 11c to $29.09 and the
Commonwealth Bank lost 18c to close at $49.50
Pharmaceuticals company Bionomics (ASX:BNO) continued its strong run closing at 29.5c. The company recently completed a $15M capital raising and has products in clinical trial for anxiety and cancer.