The local share market managed to rebound today with much of its gain coming after lunchtime.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.6% to 5653 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.5% to 5704 points
- AUD/USD at US 75.56 cents
- Iron Ore at US$83.34 a tonne, according to the Metal Bulletin
- Gold at US$1,210.20 an ounce
- Brent oil at US$55.39 a barrel
GBST Holdings Limited (ASX: GBT) and OFX Group Ltd (ASX: OFX) were both sold off by the market today on disappointing trading updates.
GBST said it expects earnings before interest, tax, depreciation and amortisation (EBITDA) to be around $8 million for the first-half of the 2017 financial year. It also expects full-year EBITDA to be just $12 million, implying a weaker second-half. Its shares tanked 16.9%.
Meanwhile, OFX Group (previously OzForex) fell 24% after it announced another change in leadership as well as an earnings guidance downgrade.
Thankfully, shares of Virtus Health Ltd (ASX: VRT) managed to rebound 5.1% after yesterday's mauling, offering investors some reprieve. Collection House Limited (ASX: CLH), on the other hand, slipped another 7%.
Elsewhere, Bapcor Ltd (ASX: BAP) announced it would acquire 100% of New Zealand's Hellaby Holdings after receiving acceptances for more than 90% of its shares.
BHP Billiton Limited (ASX: BHP) also rebounded 1.7%, with Woolworths Limited (ASX: WOW) up 2% for the day as well.
Ansell Limited (ASX: ANN) was one of the market's biggest losers for the day, shedding 5.7%. Domino's Pizza Enterprises Ltd. (ASX: DMP) also fell 4.1%.
Here are Wednesday's top stories:
