SYDNEY, AAP – Heavyweight miner Fortescue Metals fell almost 11 per cent as shares traded ex-dividend, but that did not stop a recovery on the Australian market.
Fortescue shares lost 10.94 per cent to $18.57 while the wider market was down about one per cent early then closed little changed.
Information technology shares proved best, while materials and energy fared worst.
The benchmark S&P/ASX200 index closed higher by 5.6 points, or 0.07 per cent, to 7528.5.
The All Ordinaries closed lower by 2.9 points, or 0.04 per cent, to 7823.8.
The Australian dollar was buying 74.40 US cents at 1622 AEST, higher than 74.21 US cents at Friday’s close.