Trading Day: ASX falls 0.8% as month-end selling hits region; Beach sinks, AMP avoids second strike
ASX ends down 0.8% as month-end selling hits the region but 3.5% monthly gain best since November. Beach slides after target downgrade, Origin sales slip, Booktopia booms.
Welcome to the Trading Day blog for Friday, April 30. Australian stocks firmly lower, even after Wall Street rose as investors weighed improving economic data, strong earnings and the threat of rising bond yields.
The Dow Jones Industrial Average gained 0.7 per cent, while the S&P 500 added 0.7 per cent to close at a fresh record. The Nasdaq Composite climbed 0.2 per cent. Locally, AMP held its AGM and while it recorded a protest vote over executive remuneration, it narrowly avoided a "second strike" that could have triggered a board spill.
Miners lead as ASX rises; Web Travel sinks 36pc on weak update
ASX 200 ends up 0.5 per cent amid gains in the US and China. TPG sells fibre, EGW assets to Vocus in blockbuster deal. Web Travel dives on update. New bosses at Lendlease, Pacific Smiles. BCA puts councils performing poorly on housing on chopping block.
ASX 200 flat; energy stocks strongest
Appen in $50m cap raise. US inflation stickier than expected, jobless claims jump. Oil, gold prices push higher. Richard White keeps selling down WiseTech stock amid court stoush. Macquarie downgrades Woodside.