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China data hits miners

Data out of China today pointing to slower growth – albeit in line with expectations – saw miners tumble in Australian trade.
China data hits miners China data hits miners China data hits miners China data hits miners China data hits miners

Miners out of favour

Staff reporter

Miners took all five spots on the table charting the biggest declines on the benchmark S&P/ASX200 index this afternoon.

Orocobre (ASX: ORE), Evolution Mining (ASX: EVN), Pilbara Minerals (ASX: PLS) and Western Areas (ASX: WSA) all fell more than 4%.

Mineral Resources (ASX: MIN) was down more than 3% at the time of writing.

China's economy grew 6.7% in the June quarter, lower than the 6.8% registered in the three prior periods, Reuters reported.

Japanese markets were closed for a holiday today.

Canada's metals and mining stocks had closed down slightly on Friday while in New York, the S&P500 had reached a five-month high on Friday.

Finally the gold price had edged slightly higher to US$1,243 an ounce on the spot market earlier.