The benchmark S&P/ASX 200 dropped 49.2 points, or 0.7 per cent to 7146, weighed down by eight out of the 11 industry sectors.
A sell-off in health care and communication stocks sent Australia’s sharemarket tumbling to a five-week low, despite trimming losses earlier in the session on a weaker-than-expected July jobs report.P/ASX 200 closed down 49.2 points, or 0.7 per cent to 7146, as eight out of the 11 industry sectors retreated. The All Ordinaries lost 0.6 per cent.climbed to a higher than expected 3.
In other corporate news, property website Domain Holdings tumbled 7.8 per cent to $3.76 after a double-digit drop in real estate listings in Sydney and Melbourne hit net profit, which fell more than 28 per cent to $38.6 million.Listed global equities’ manager GQG Partners lost 5.1 per cent to $1.50 even as it reported a 6.5 per cent increase in net revenue for the half-year to $US237.1 million , bucking an industry trend of falling profits.Also in financials, ASX Ltd slid 1.9 per cent to $60.
The miner closed the project in April for up to six weeks to repair flood damage, resulting in $160 million of lost revenue and $24 million of incremental recovery costs.
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