Financial stocks have weighed down on the Australian market sending the ASX200 down 76.3 points or 1.3% to 5659.2.

Major banks were amongst the biggest losers with ANZ Bank (ASX:ANZ) down 2.5% to $32.30 and Commonwealth Bank (ASX:CBA) falling 2.0% to $83.08.

National Australia Bank (ASX:NAB) dropped 1.5% to $34.01 while Westpac (ASX:WBC) is down 2.2% to $32.31

Market Action here…

Kibaran Resources (ASX:KNL) rose 7.7% to $0.21 with more than 2.2 million shares traded.

Testwork at the company’s Epanko Graphite Project has confirmed that its material is of superior quality to the current supply sourced from China and is suitable for all downstream graphite uses.

This includes the production of expandable graphite which is also referred to as Graphite Intercalation Compound (GIC).

To benchmark the results are superior to those achieved from graphite produced in China which is currently the dominant supplier of expandable graphite to the world market.

White Cliff Minerals (ASX:WCN) is up 14.3% to $0.008 Arc Exploration (ASX:ARX) jumped 50% to $0.011 Imugene (ASX:IMU) rose 10% to $0.074 and St George Mining (ASX:SGQ) is up 10.3% to $0.075.


Blue Chip Stocks

Major miners
 
BHP Billiton (ASX:BHP) down 7.0% to $30.21
Fortescue Metals Group (ASX:FMG) up 0.4% to $2.30
Newcrest (ASX:NCM) up 1.0% to $14.69
Rio Tinto (ASX:RIO) down 1.0% to $57.53


Oil and Gas

Oil Search (ASX:OSH) down 2.4% to $7.34
Santos (ASX:STO) down 3.0% to $8.21
Woodside Petroleum (ASX:WPL) down 1.2% to $34.58


Other banks financials and industrials

AMP (ASX:AMP) down 2.4% to $6.44
Bank of Queensland (ASX:BOQ) down 1.6% to $13.02
Bendigo and Adelaide Bank (ASX:BEN) down 1.4% to $12.27
Macquarie Group (ASX:MQG) down 3.6% to $79.60
Suncorp (ASX:SUN) down 1.7% to $13.23
Telstra (ASX:TLS) down 0.2% to $6.19


Retailers

JB Hi-FI (ASX:JBH) down 1.6% to $21.12
Wesfarmers (ASX:WES) down 1.2% to $44.45
Woolworths (ASX:WOW) down 0.7% to $28.80

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