RTTNews - The Australian stock market ended in negative territory on Monday following softness in commodity markets. Traders preferred to stay away from the markets amid lack of cues related to global economy following disappointing jobs report in the U.S and now look forward to the earnings season set to kick-off on Wednesday with Alcoa slated to report the results. Weak trading across other markets in the Asia-pacific region impacted the traders' sentiment.

The U.S market was closed for holiday on Friday after drifting down sharply on Thursday following weak jobs report. On thursday, the Dow closed down by 223.32 points or 2.6% at 8,281, the Nasdaq fell by 49.20 points or 2.7% to 1,797, and the S&P 500 closed down 26.91 points or 2.9% at 896.

The All Ordinaries Index opened lower at 3,819 compared to previous close at 3,827 and drifted sharply lower, following soft commodity prices and concerns about global recovery. The index continued to remain in the negative territory for the whole session and ended the day in the negative territory with a loss of 42.40 points, or 1.11%, at 3,784. The benchmark S&P/ASX 200 Index followed a similar trend and ended at 3,784, representing a loss of 44.50 points, or 1.16%.

On the economic front, a monthly report from TD Securities and the Melbourne Institute revealed that a gauge measuring inflation in the country increased 0.4% in June compared to May. According to the report, inflation was up 1.4% on an annual basis for June. A separate report released by the ANZ Bank revealed that the total number of job advertisements fell 6.7% in June compared to the previous month.

Light sweet crude oil price for August delivery shed $2.55 a barrel and ended at $64.18 in Asian trading after having ended Thursday's session in New York at $66.73 amid concerns about global recovery.

Metal prices in the international market also drifted lower on demand concerns. BHP Billiton shed 2.42%, Rio Tinto fell 2.22%, Orica Energy declined 1.99% and Fortescue Metals lost 3.69%.

Oil stocks declined on lower crude prices. Woodside Petroleum declined 1.40%, Santos lost 3.97% and Oil Search fell 1.30%.

Gold stocks also ended in the negative territory. Lihir Gold lost 1.03%, Newcrest Mining slipped 0.40% and Sino Gold fell 2.10%.

Financial stocks also ended lower on growth concerns. ANZ Bank lost 1.05%, Commonwealth Bank Australia edged down 0.38%, National Australia Bank slipped 0.09% and Westpac Banking fell 1.24%.

Among retailers, David Jones fell 2.46% and Harvey Norman lost 4.29%. However, Woolworths managed to end in the green with a gain of 0.77%.

For comments and feedback: contact editorial@rttnews.com