Business
ASX falls 0.9pc as AGL closes at a 13-year low – The Australian Financial Review
The shine was taken off the Australian sharemarket’s strong start to the month on Thursday, with shares dipping, led by major energy companies Origin Energy and…
Thursdays losses were led by AGL Energy and Origin Energy, with both companies warning a rough reporting season lay ahead.
Origin cut its profit guidance, saying and challenging conditions would last into next year and that its underlying earnings for the core energy markets business would drop to between $1 billion – $1.14 billion, down from earlier guidance of $1.15 billion to $1.3 billion. Its shares fell 6.9 per cent to $4.62.
AGL announced a shock $2.69 billion worth of write-downs, saying…
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