ASX extends monthly run of gains despite Monday fall
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Australian shares extended a monthly run of gains to eight months in May, the longest stretch in 14 years, despite a mild dip on Monday as the Melbourne COVID-19 outbreak spread and shares in tech group Nuix tumbled.
The S&P/ASX 200 fell 18 points to 7162.6 for a 0.2 per cent fall on the last trading session of the month but ended May with a 1.9 per cent gain. The All Ordinaries benchmark fell by the same margin, ending the month with a 1.6 per cent advance.
The monthly gain reflects the robust outlook for the Australian economy as output picks up, helped along by the big-spending federal budget announced earlier in the month and low interest rates.
Nuix Software has today announced the termination of its consulting contract with former board chairperson Tony Castagna after controversy around stock .