BREAKING: Australia’s retail trade crashed 3.9 per cent in December, defying consensus expectations for a 0.2 per cent decline. Follow updates here:
Australian shares opened the trading day flat, shrugging off declines on Wall Street overnight.P/ASX 200 rose just 0.01 per cent to 7482 with consumer staples leading sector gains up 1.2 per cent. Most other industries were flat, except information technology down 1.7 per cent.
Traders shrugged off a decline in US stocks on Monday as investors turned cautious ahead of an eventful week that includes the Federal Reserve’s rate decision and aP 500 fell the most since January 18. Heavily shorted Megaport led the ASX 200 decliners, tumbling 17.2 per cent after delivering second-quarter earnings and providing a global market update. Total revenue for the quarter was $37 million, up 10 per cent compared to 1Q FY23.
Bubs Australia fell 10 per cent after second quarter China revenue fell 66 per cent as prolonged COVID-19 lockdowns caused significant disruption.
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