Business
ASX dips 0.9pc as high-flying stocks don’t meet expectations – The Australian Financial Review
The S&P/ASX 200 Index dropped 61.4 points on Wednesday, and Appen lost more than 12 per cent upon falling short of consensus estimates.
Seek tumbled heavily for a second day after it made an after-market disclosure on Tuesday related to the anticipated sell-down of its stake in the Chinese jobs platform, Zhaopin.
Of the $697 million gross proceeds Seek expects to receive from taking its stake down to 23.5 per cent, Seek will pay a future dividend of 20¢ (instead of an interim dividend) and reduce its debt. Seek shares fell 7.8 per cent to $25.99.
The old Flexigroup, now trading as Humm, plunged 18 per cent to $1.08. Humm will expand…
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