Australian shares closed lower on Thursday as a handful of underwhelming corporate reports and a shift in sentiment overnight in the US and Europe weighed on local blue chips.
P/ASX 200 edged 1.2 per cent lower, wiping 85.1 points from the benchmark, which closed with 6961.8 points. The decline dents a steady rise in share prices that has slowly built over the past two months and dragged the index to below 7000 points for the first time in a fortnight.P All Ordinaries index, which covers more than twice the number of companies compared to the SP/ASX 200, shed 88 points to close with 7199.2 points, also 1.2 per cent fewer than the prior session.
The fall for Endeavour weighed on the consumer staples sector, which tumbled 3.8 per cent on Tuesday, the largest decline among the 11 sharemarket sectors.EML Payments shares fell 11.6 per cent to a fraction below $1 a day after the company reported results. The drop wiped a gain of a similar margin a day earlier andShares in Kogan.com, the online retailer, tumbled 6.6 per cent to $3.
“Altium outperformed all expectations and exceeded its financial targets for revenue and margin,” the company said in its results. The business also said it expected to grow revenues a further 20 per cent in the 2023 financial year. Whitehaven Coal gained 2.8 per cent to close at $7.75 on Tuesday, setting a new share price record. The company’s shares have more than tripled in the past year against the backdrop of rising global energy prices and tight supply.
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