Australian stocks dipped today with the ASX200 down 5.2 points or 0.1% to 5610.3 with mining stocks weighing on the market.

The Materials Index fell 1.6% to 9251.

BHP Billiton (ASX:BHP) down 3.1% to $28.71 while Fortescue Metals Group (ASX:FMG) dived 7% to $2.07.

Newcrest (ASX:NCM) fell 2.0% to $14.17 and Rio Tinto (ASX:RIO) is down 2.7% to $55.91


Market Action here…

Red Mountain Mining (ASX:RMX) climbed 33.3% to $0.004 with more than 36 million shares traded after the company received local government endorsement for its Batangas Gold Project in the Philippines.

The company is also advancing the Definitive Feasibility Study (DFS) towards completion and new resource models are in progress.

The endorsement of the projects development and production plan is a critical step in the final mine permitting process.

Batangas has now been endorsed by all directly affected Local Government Councils having already received the required endorsement of the ten Barangay (township) Councils earlier in the year.

Elementos (ASX:ELT) rocketed 83.3% to $0.011 with almost 5.3 million shares traded while Argonaut Resources (ASX:ARE) climbed 20% to $0.006.

Carbon Energy (ASX:CNX) is up 11.1% to $0.03 and OncoSil Medical (ASX:OSL) rose 10% to $0.11.


Blue Chip Stocks

Oil and Gas

Oil Search (ASX:OSH) down 0.3% to $7.27
Santos (ASX:STO) down 3.9% to $7.78
Woodside Petroleum (ASX:WPL) down 0.3% to $34.23


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.6% to $31.82
Commonwealth Bank (ASX:CBA) down 0.3% to $82.62
National Australia Bank (ASX:NAB) down 0.4% to $33.52
Westpac (ASX:WBC) up 0.1% to $32.30


Other banks financials and industrials

AMP (ASX:AMP) up 1.8% to $6.40
Bank of Queensland (ASX:BOQ) down 0.1% to $12.93
Bendigo and Adelaide Bank (ASX:BEN) down 0.3% to $12.05
Macquarie Group (ASX:MQG) up 0.2% to $79.03
Suncorp (ASX:SUN) down 0.5% to $13.10
Telstra (ASX:TLS) up 0.2% to $6.14


Retailers

JB Hi-FI (ASX:JBH) down 2.2% to $20.97
Wesfarmers (ASX:WES) down 0.7% to $43.43
Woolworths (ASX:WOW) up 0.2% to $28.15

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