Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished lower on Tuesday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.61% to 6,097.80
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.58% to 6,198.70
- AUD/USD at US 75 cents
- Gold at US$1,311.78 an ounce
- Brent Oil at US$78.22 a barrel
The Link Administration Holdings Ltd (ASX: LNK) share price was one of the best performers in the ASX200, it went up 5.3% after updating the market to say that the recent Budget superannuation changes could mean roughly a $50 million hit to revenue. However, it has some mitigating factors that could limit the impact.
Automotive Holdings Group Ltd (ASX: AHG) shares fell by 9.1% after the car dealership business announced that it was operating in challenging trading conditions.
TV company Seven West Media Ltd (ASX: SWM) didn’t make good viewing for shareholders as the share price dropped by 7.3%.
Telstra Corporation Ltd (ASX: TLS) shares dropped a further 4.9% after telling investors yesterday it would only hit the minimum figure of its profit guidance.
The share price of GWA Group Ltd (ASX: GWA) fell by 4.8%, losing most of its gains after announcing the sale of its door business.
Ruralco Holdings Ltd (ASX: RHL) finished the day up 0.32% after reporting a pleasing increase in its profit.
Here are some of today’s top stories:
- Can Microsoft & the Commonwealth Bank of Australia challenge Xero Limited?
- The Afterpay Touch Group Ltd share price rockets on US market launch
- Why the EML Payments Ltd share price is rocketing higher today
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended Automotive Holdings Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.