NewsBite

ASX 200 ends at four-week low; QBE soars on profit beat, Whitehaven dives on broker cuts

Shares fall for a second week. QBE soars on consensus beat. Whitehaven dives on broker cuts. A2 Milk jumps to 2021 best. WiseTech buys Blume. Iron ore at two-week high.

David Rogers, Valerina Changarathil, Hayden Johnson and Matt Bell

less than 2 min read

6:22AMFebruary 17, 2023.

Updated 5:10PMFebruary 17, 2023

The Australian Business Network

Equity investors are parsing a number of earnings and economic updates locally and globally. Picture: David Swift

Welcome to the Trading Day blog for Friday, February 17. The Australian sharemarket retreated following a number of corporate results and as Wall Street turned sluggish following January’s stronger-than-expected PPI report.

The S&P/ASX 200 index fell 0.9 per cent to 7346.80. For the week, the benchmark index declined 1.2 per cent.

Wall Street is set for further falls this evening with futures tied to the Nasdaq down 0.6 per cent, S&P 500 0.5 per cent off and the Dow Jones futures 0.3 per cent lower.

The dollar was buying US68.40c at the close.