ASX 200 posts worst session in six weeks; Adbri and Magellan drop as EML, NIB soar
ASX slumps to its worst session in six weeks. Adbri tumbles on profit hit, EML and NIB soar on results, Ampol dividend doubles and Link shareholders approve sale.
Welcome to the Trading Day blog for Monday, August 22. The Australian share market posted its worst session in six weeks with all sectors lower as investors digest another round of company results and global jitters bite.
The S&P/ASX 200 index closed 1 per cent lower to 7046.90.
Wall Street ended the week weaker on Friday with the Dow Jones Industrial Average index closing 0.9 per cent lower while the S&P 500 index was off 1.3 per cent and the Nasdaq index lost 2 per cent.
Oil prices are stronger with global benchmark Brent crude up 0.1 per cent to $US96.72 per barrel and the US Nymex rose 0.3 per cent to $US90.77 per barrel.
Iron ore futures fell 0.5 per cent to $US104.21 per tonne.
The Aussie dollar was near US69.00c at the local close.
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