Australia: Shares edge lower as virus cases resurge in Sydney businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
Dec 21 (Reuters) - Australian shares slipped marginally on Monday, with energy and financial stocks leading the declines, as a surge in COVID-19 cases in Sydney led states and territories to ban travellers from the city, stoking fears of a delayed economic recovery.
The S&P/ASX 200 index edged 0.06% lower by 0009 GMT.
Projections of the Australian economy recovering from its first recession in three decades faster than previously anticipated were dismantled after Sydney, the country’s most populous city, detected a new virus cluster which had grown to a count of around 70 as of Sunday.
The Australian Capital Territory (ACT) sent a stern “do not come to us” message to Sydney, warning its residents they would be quarantined for 14 days if they arrived.
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Top business school s research on activist shorts was sponsored
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The University of Sydney Business School s research arguing that activist short sellers have cost Australian investors billions was sponsored by a secret “funding organisation”, which it refuses to name, and won t be released any time soon.
The research was co-authored by Associate Professor Joakim Westerholm and Vycke Zheng Wu, and was subject to rigorous independent analysis, according to a university spokeswoman. The academics are meeting the Australian Securities and Investments Commission to discuss their work.
A University of Sydney spokeswoman said the team independently verified all of the public data sources”.