ASX closes down 0.6%; Fortescue leads mining gains

The ASX 200 recovered to close 0.6 per cent lower on strong iron ore futures. Miners gained led by Fortescue but Nearmap and Xero were among the worst hit.

Mixed trading in ASX stocks. Picture: NCA NewsWire / Jeremy Piper

Welcome to the Trading Day blog for Thursday, November 11. ASX  trimmed losses to be 0.6 per cent down with strong iron ore futures boosting miners, especially Fortescue. Nearmap, Xero fell.

The ASX 200 index closed down 0.6 per cent to 7381.9.

Overseas, the Dow Jones Industrial Average fell 0.7 per cent, the S&P 500 lost 0.8 per cent and the Nasdaq Composite declined by a sharp 1.7 per cent on high inflation data.  US consumer prices surged 0.9 per cent in October from a month earlier, pushing the year-over-year rate to 6.2 per cent, the sharpest annual increase since November 1990.

Iron ore fell 3.2 per cent to $US89.50 a tonne.

The US Nymex crude (WTI) price also lost 3.3 per cent to $US81.34 a barrel.