ASX flat as QBE slump offsets broader gains

Retailers were mainly posting gains: Woolworths shares were up 1 per cent, and Wesfarmers - the owner of Coles - had risen 0. 7 per cent.

Shares in QBE Insurance crashed 12 per cent after the firm announced an unexpected profit downgrade.

The big four banks were mainly trading higher though, led by a gain of 0. 4 per cent for NAB and the Commonwealth.

Trade is flat on the Australian share market, as a slump for insurance giant QBE weighs on the broader market.

Read more here: ABC

    

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>