The S&P/ASX 200 Index fell 0.2 per cent to 7417.8 points; The Star fell 20.8 per cent to $1.48 and Lendlease dropped 6.1 per cent to $7.79.
Shares of The Star Entertainment Group plunged nearly 21 per cent after the casino owner flagged a write-down of its Sydney casino of up to $1.6 billion.
Iron ore traded in Singapore fell 2.2 per cent to $US121.95 a tonne on the March futures contract. In energy, March West Texas Intermediate fell 1 per cent to $US78.89 a barrel and Brent crude almost 1 per cent to $US85.57 a barrel.IAG rose 4.5 per cent to $4.92 after its interim profit rose to $468 million from $173 million, boosted by the release of $252 million in provisions earlier tucked away for potential COVID-19 business claims that did not eventuate.
Lendlease dropped 6.1 per cent to $7.79 after it took a $200 million hit from a defective buildings provision, related to the UK government requirement for developers to extend the defects liability period on residential buildings from six to 30 years. Its first-half loss narrowed to $141 million from $264 million.
Aurizon dropped 6.5 per cent to $3.45 after it lowered its EBITDA guidance for financial year 2023 by 4 per cent to a range of $1.42 billion to $1.47 billion, reflecting prolonged wet weather and a two-week Blackwater derailment outage.
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