Once again, the Australian share market turned good economic news into a bad share performance as the ASX-200 index slumped to a three-month low of just 7042.3 points.
Investors cheered operating cost management at Xero as the tech bellwether’s surge helped shares climb. Nufarm also impressed investors with its earnings.
Share investors are braced for a week of earnings that will show the impact of rising labour, debt and supply chain costs on corporate Australia’s profits.