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Aussie shares tracked lower throughout the day as the ASX/200 finished 1.5% in the red. The miners gave up much of yesterday’s gains, while banks also contributed to declines.

At the end of the day, the All Ords lost 64.7 to 4,439.4, while the ASX/200 fell 66.7 to 4,413.0. Around 2.2 billion shares worth around $7.7 billion had changed hands.

Consistent losses from the big four banks led the Banks and Financials sector 1.6% lower. 

NAB shed 58c, or 2.4% to $23.80, while the other three were between 1.6% and 1.7% in the red.

Macquarie shed 2.8% to $39.50 a day after the investment bank warned that market conditions were affecting some of its business activity levels. The stock is trading below the $40 mark for the first time since July 2009.

Insurer Suncorp-Metway was the worst performer among the insurers, down 20c, or 2.4% to $8.14.

Materials and Resources sector retreated 1.7%, despite Prime Minister Gillard saying that all aspects of the RSPT were on the negotiating table.

Rio Tinto and BHP Billiton shed 3% and 2.1% to $69.60 and $38.80 respectively.

Iron ore producer Fortescue dropped 18c, or 4% to $4.36.

Steel stocks OneSteel and BlueScope weakened 2.5% and 2.2%.

In London overnight the price of copper jumped 2.8%, but this and the rise in all of the other metals prices failed to have a positive impact. 

Gold stocks outperformed after a rise in the price of the yellow metal as investors looked for a safe haven. Newcrest and Lihir were 1% and 1.6% higher to be trading at $36.00 and $4.44.

Orica edged 28c lower to $25.11. Credit Suisse upgraded its rating on the chemicals company to ‘outperform’.

A 2.9% drop to $43.28 from heavyweight Woodside saw that the Energy sector was down 1.6%. A stronger euro sent crude prices higher in New York.

Oil Search and Santos lost 0.2% and 0.9% to $5.70 and $12.70 despite Citigroup giving favourable coverage to both stocks.

Caltex slumped 6.7% to $9.66 after announcing a weaker than expected earnings forecast last night.

It was a mixed day for the Industrial stocks as the sector edged 0.6% lower.

Brambles and Asciano were the standouts, adding 3% and 0.9% to $5.77 and $1.675.

However, their gains were outweighed elsewhere including Leighton which slid 53c, or 1.7% to $30.66.

MAp lost 3c to $2.81 amid reports the owner of Sydney Airport is considering selling its stake in Mexican airport group Aeroportuario del Sureste.

Qantas was 1.3% lower despite a broker upgrade from JPMorgan.

A 76c, or 2.5% drop to $29.10 from Wesfarmers outweighed a 1.3% gain from Coca-Cola Amatil as the Consumer Staples sector dipped 1.1%.

Consumer Discretionary retreated 1.4% on the back of weakness in the media sub-sector.

Newscorp and Fairfax shed 2.4% and 2.5% to $17.15 and $1.355 respectively.

Telecommunications giant Telstra lost 4c to $3.30 as the sector slid 1.1%.

Property Trusts was down 1.5%, despite being flat at lunch. Westfield retreated 1.8% to $12.31. 

Around the region, the Nikkei 225 fell 191.7 to 9,736.7, while the Straits times Index gained 2.5 to 2,850.1. The NZSE50 retreated 15.4 to 3,034.1 and the Hang Seng lost 123.7 to 20,609.8

Spot gold was trading at US$1,242.45 per ounce, while the Aussie was buying US$0.8621.

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Reject Shop confirms guidance as chairman retires
The Reject Shop confirmed that its chairman Brian Beattie would step down from the post following the company’s next board meeting on 14 July. At the same time the discount retailer reaffirmed previous guidance of a post-tax profit of around $22.5 million for the year to 30 June.

At the end of the day, The Reject Shop shares were down 8c to $16.42.

ASG awarded new contract
ASG Group said it has secured a new contract with Vodafone Hutchison Australia (“VHA”) to provide corporate IT support services for an initial term of five years with two one-year extension options. The company said there is scope to provide additional project services.

At the bell, ASG shares were up 1.5c to $1.36.

Lend Lease to pay $618m for Singapore site
Lend Lease said, along with one of its managed funds the Asian Retail Investment Fund (ARIF), they have agreed to pay $618 million for the Jurong Gateway Road site in Singapore. The group made the announcement after they outbid a rival for the large scale mixed use suburban development by $17 million.

At the close, Lend Lease shares were down 3c to $7.42.

Caltex expecting profit down by 50%
Caltex Australia said the strengthening Aussie dollar from last year would take a bite out of the company’s profits for the six months to 30 June 2010. The oil refiner said it was expecting, on a replacement cost of sales operating profit (RCOP) basis and not including significant items, would be between $140 million and $160 million, down around 50% from last year. 

At the finish, Caltex shares were trading down 69c to $9.66.

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