1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The Australian sharemarket fell on Monday, with the S&P/ASX 200 closing lower by 0.4% to 9,073 points as investors reacted to a mixed batch of company results and signs of weaker consumer spending.
Nine of 11 sectors traded lower, with consumer discretionary stocks bearing the biggest losses.
JB Hi-Fi plunged almost 12% after reporting record sales and higher annual profit, but results still fell short of market expectations as spending weakened towards the end of the year. Wesfarmers, Harvey Norman, Eagers and Myer also declined.
A2 Milk fell 3.3% after management said it had lost a significant proportion of customers buying its Chinese-label products since December.
Banks also weighed on the market. NAB dropped 5% after warning that higher interest rates, the Middle East conflict and proposed property tax changes were creating greater uncertainty for customers.
Elsewhere, Iress tumbled by 12% despite a sharp increase in first-half profit. Aurizon fell xx% after its results, while Lendlease also lost 12% after swinging to a $749 million full-year loss.
On the positive side, Audinate gained 11.9% following its earnings update.
