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Australia: Shares end at 1-month low

Monday, January 23, 2017 - 14:22

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[SYDNEY] Australian shares ended at a one-month low on Monday, with industrials the biggest drag on the benchmark after Brambles Ltd cut its annual profit forecast.

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

Logistics company Brambles Ltd fell as much as 17.6 per cent, 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.

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Financials were the second biggest drag on the benchmark, with the "big four" banks falling between 0.1 per cent and 0.4 per cent.

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

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

Utilities and Industrials pushed the benchmark up, with Meridian Energy Ltd and Auckland International Airport Ltd gaining 1.5 per cent and 0.7 per cent, respectively.

REUTERS

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