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ASX weakens in afternoon; AGL hits five-year low – The Sydney Morning Herald

The S&P/ASX 200 finished 0.2% lower on Monday as financials, health and consumer stocks weighed. The index still added 2.2% in a fifth straight month of gains



Energy and real estate sector stocks outperformed, while healthcare and consumer discretionary dragged.
The June quarter business indicator report revealed business inventories were lower than expected at -3 per cent. This means Australias economy was now expected to have shrunk by 6 per cent in the June quarter, the biggest quarterly contraction since 1974. And would technically be in recession for the first time since 1991 when GDP figures come out on Wednesday.
Australia underperformed As…

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