The S&P/ASX 200
(INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended lower on Thursday.
All Ordinaries: down 0.5% at 5,869 points
ASX 200: down 0.5% at 5,759 points
ASX 200 Movers
- Reece Ltd (ASX: REH) – up 2.1%
- Caltex Australia Ltd (ASX: CTX) – up 1.1%
- Iron Mountain Incorporated (ASX: INM) – up 3.9%
ASX 200 Losers
- Bellamy’s Australia Ltd (ASX: BAL) – down 8.1%
- Wisetech Global Ltd (ASX: WTC) – down 6.8%
- a2 Milk Company Ltd (ASX: A2M) – down 5%
Australian Investing News
The biggest financial news in Australia and the ASX 200 came from Magellan Financial Group Ltd (ASX: MFG). Today, Magellan announced that it has cancelled its partnership with Cricket Australia following revelations of cheating.
“A conspiracy by the leadership of the Australian Men’s test Cricket Team which broke the rules with a clear intention to gain an unfair advantage during the third test in South Africa goes to the heart of integrity,” Magellan CEO, Hamish Douglass said.
“Regrettably, these recent events are so inconsistent with our values that we are left with no option but to terminate our ongoing partnership with Cricket Australia.”
This morning, plumbing company Reece announced that it will buy Heatcraft’s New Zealand Operations from Sweden’s, Beijer Ref. Headcraft is a wholesale supplier of refrigeration in Australia and New Zealand.
“With a comprehensive product range, the acquisition of Heatcraft’s New Zealand operations will enable us to build on our solid base in the region, and broaden our customer offering,” Reece CEO Peter Wilson said. Reece plans to expand Heatcraft’s footprint from 11 to 18 locations.
Fletcher Building Ltd (ASX: FBU) ended 2.7% lower after announcing that it had received a waiver of the recent breach of its debt covenants and banking arrangements. The breach of its rules were a result of an expected loss from Fletcher Building’s Building and Interiors business.
a2 Milk Company and Bellamy’s Australia shares also moved lower on Thursday. On Wednesday, Nestle revealed it would release its own A2 protein brand of infant formula. Does The A2 Milk Company Ltd Face A New Threat In China?
Amongst the major banks, Australia and New Zealand Banking Group (ASX: ANZ) shares fell 0.9% while Commonwealth Bank of Australia (ASX: CBA) shares ended 0.6% higher, according to Yahoo! Finance.
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