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Australian shares lower after weak reporting season wraps up – NEWS.com.au
Australian shares lower after weak reporting season wraps up
The Australian share market closed lower on the final day of the August profit reporting season, which has been dominated by the dire economic consequences of the global pandemic.The S&P/ASX200 finished 0.22 per cent softer at 6060.5 while the All Ordinaries Index dipped 0.24 per cent to 6245.9.
Overall, full-year profits were down, causing companies to slash or abandon dividend payments and instead lift cash holdings, CommSec said.
“Clearly for some companies it has been the toughest year…
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