Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Australia shares end at 1-month low as Brambles cuts profit forecast; NZ up

Published 23/01/2017, 04:54 pm
Updated 23/01/2017, 05:00 pm
© Reuters.  Australia shares end at 1-month low as Brambles cuts profit forecast; NZ up

(Updates to close)

Jan 23 (Reuters) - Australian shares ended at a one-month low on Monday, with industrials the biggest drag on the benchmark after Brambles Ltd BXB.AX cut its annual profit forecast.

The S&P/ASX 200 index .AXJO ended down 0.8 percent, or 43.75 points, at 5,611.0. The benchmark closed 0.7 percent lower on Friday.

Logistics company Brambles Ltd fell as much as 17.6 percent, accounting for a quarter of the losses on the index. The stock posted its biggest intraday percentage loss in nearly nine years.

The company expects constant-currency sales revenue and underlying profit growth for year ending 30 June 2017 to be below its current guidance range. .AXFJ were the second biggest drag on the benchmark, with the "big four" banks falling between 0.1 percent and 0.4 percent.

Healthcare stocks also fell, with CSL Ltd CSL.AX accounting for most of the losses, declining 2.7 percent.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.3 percent, or 19.38 points, to 7,067.85.

Utilities and Industrials pushed the benchmark up, with Meridian Energy Ltd MEL.NZ and Auckland International Airport Ltd AIA.NZ gaining 1.5 percent and 0.7 percent, respectively.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.