Business
Disappointing earnings push ASX lower – The Australian Financial Review
The Australian sharemarket unwound its positive start to the week on Wednesday, with a wave of company earnings failing to lift investor sentiment.
“The earnings trends in Australia have shown many similarities to those in the US, both leading up to 30 June and since the reporting season has started in Australia. Across most sectors the negative earnings trends have stabilised.”
The major banks led the losses on the local market, giving back some of their strong gains from the previous session.
Commonwealth Bank dropped 1.1 per cent to $69.65, NAB declined 1.5 per cent to $18.00, Westpac slid 1.3 per cent to $17.62 and ANZ fell 1.4 per ce…
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