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ASX 200 falls; Bega tumbles on inflation hit, Qantas dives despite $1.4bn profit

Shares fall for a third straight day. Bega tumbles on inflation woes. Qantas down despite $1.4bn profit. BHP at seven-week low as iron ore lifts. Eagers soars on record result.

David Rogers, Valerina Changarathil, Hayden Johnson and Matt Bell

less than 2 min read

6:45AMFebruary 23, 2023.

Updated 5:16PMFebruary 23, 2023

The Australian Business Network

Equity investors are parsing economic and earnings updates locally and overseas. Picture: Gaye Gerard

Welcome to the Trading Day blog for Thursday, February 23. An earnings miss by Rio Tinto and further inflation pain on company results weighed on the Australian sharemarket as it closed lower for a third consecutive session.

The S&P/ASX 200 index retreated 0.4 per cent, or by 29.10 points, to 7285.40.

Wall Street was expected to rebound this evening with futures tied to the Nasdaq up 0.8 per cent, the S&P 500 0.4 per cent higher and the Dow Jones was 0.3 per cent stronger.

The dollar was buying US68.25c at the close.