markets, but investors seemed reluctant to let go of speculation rival Rio Tinto.
there had been a lot of volatility in BHP Billiton and Rio stock, which were both hit hard in overseas trading overnight, and then in did not eventuate.
"But just in the late afternoon, there's been a few rumours around BHP and a takeover for Rio, so the traders don't really know which way it's going," Mr Ferguson said.
Rio difficult, investors seemed reluctant to abandon the idea that Rio could be a target for BHP, another miner or a private equity group.
At the close, the benchmark ASX 200 index was down 58.1 points at 6297.
4 and the All Ordinaries 54.5 lower at 6297.3.
On the Sydney Futures Exchange, the June share price index contract reversed 76 points to 6300.
On Wall Street overnight, the Dow Jones Industrial Average had finished 147.74 behind at 13,215.
13 after a broadening trade deficit fuelled fears about the health of the US economy.
In the local resources sector, BHP Billiton fell 80c to $31 while Rio rose 12c to $92.
$42.
35 and Santos backtracked 29c to $12.25. Energy utility bank Macquarie Bank for the second time.
Babcock rose 2c to In the banking sector, National Australia Bank declined 67c to $43.03, Commonwealth Bank fell 42c to $53.61 and $27.
27.
maintained its negative outlook on Australia's biggest telco.
Singapore Telecom, the owner of Optus, gained 4c to $2.
68.
Woolworths retreated 12c to $28.72.
In the media sector, News Corp shed 23c to $28 while its non-voting scrip was down 5c to $25.83.
Fairfax fell 3c to $5.
05.
Among gold stocks, Newmont was down 4c at $5, $2.98.
The price of gold in Sydney was $US667.25 an ounce, down Australia.
changing hands.
Shares in Metals Australia ended 1c firmer at 10.5c.
He's a bona fide Hollywood star, and Steven Spielberg and Brad Pitt are among his fans, but what Eric Bana treasures most is his life as a suburban dad.
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