Big miners drag down the rest as shares in retreat

The weaker copper price triggered a plunge in the big miners, dragging the sharemarket into negative territory.
The ASX 200 closed 64.5 points lower at 5584.8 while the All Ordinaries fell 62.9 to 5563.9.
The market foresees more to come, the March share price index contract closing down 75 at 5576 on a volume of 15,407.
ABN Amro Morgans adviser Lisa Jarvis said the price falls by BHP Billiton and Rio Tinto were severe.
"Technically, BHP Billiton looks weak and its next level of support is around $24.06," Ms Jarvis said.
BHP fell $1.11 to $24.37 while rival Rio Tinto retreated $3.16 to $71.39.
Woodside Petroleum handed back $1.03 to $36.65.
Gold stocks were also weaker as the US dollar strengthened when the market reopened overnight after the funeral of former US president Gerald Ford.
But Wall Street provided a relatively flat lead, with the Dow Jones rising 11.37 points to 12,474.52.
The spot price of gold in Sydney closed at $US629 an ounce, down $US11.20.
Newcrest led the goldminers lower, with a $1.20 fall to $25.56, Newmont shedding 16c to $5.59 and Lihir losing 14c to $3.01.
The media sector was a bright spot, with West Australian Newspapers the best performer with a 25c gain to $12.30.
News Corp picked up 15c to $28.43 while its non-voting scrip firmed 21c to $27.35. Fairfax was up 2c to $4.78.
Banks were mixed, with ANZ rising 10c to $28.30 but National Australia Bank was 49c poorer at $40.01, the Commonwealth fell 58c to $49.00 and Westpac was down 11c at $24.01.
Logistics group Toll Holdings was steady at $18.50 after the announcement that former Patrick chief Chris Corrigan was joining a consortium that will take a stake in DP World's P&O Australian assets.
AGL Energy jumped 91c to $16.75 after announcing that it had made preliminary moves to merge with Origin Energy, which eased 2c to $8.55.
Retail was down, with Woolworths losing 21c to $23.24, Coles 14c weaker at $13.97 and David Jones 2c off at $4.10.
A survey found that Australian retail spending eased slightly in December as consumers tempered their traditional last-minute Christmas shopping.
■ Barclays Global Investors Australia Ltd yesterday revealed it had become a substantial shareholder in Qantas, with 102.8m shares, or 5.2 per cent. Its holding was raised on Friday, December 29. BGI's buying took place between December 14 and 29 and the average price paid per share was $5.24.