The falling Myob Group Ltd (ASX: MYO) share price led the local share market lower today with the ASX 200 ending the session deep in the red.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.8% to 5739 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.8% to 5786 points
- AUD/USD at US 77.16 cents
- Iron Ore at US$92.23 a tonne, according to the Metal Bulletin
- Gold at US$1,250.00 an ounce
- Brent oil at US$56.61 a barrel
The Myob Group share price fell into retreat today following yesterday's strong post-earnings results rally. The MYO share price declined 6.8% when it was announced that its major shareholder, Bain Capital, had sold down around 30% of its shareholdings in the business.
The Automotive Holdings Group Ltd (ASX: AHG) share price also slipped 4.2%, with the RCG Corporation Ltd (ASX: RCG) share price closing 17.3% lower on what was perceived by the market as a disappointing earnings result.
Bellamy's Australia Ltd (ASX: BAL) fell 3.8% too after it reported its first-half earnings results. First-half revenues rose 12.5% compared to the prior corresponding period but its net profit declined 47%.
Elsewhere, the iron ore miners were slammed today after the iron ore price fell sharply overnight. The BHP Billiton Limited (ASX: BHP) share price closed 3% lower, while Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) fell 4.2% and 3.4%, respectively.
Whitehaven Coal Ltd (ASX: WHC) also declined 4.7% for the day.
On a more positive note to end the week, the Super Retail Group Ltd (ASX: SUL) share price rose 5.3% on a positive earnings result and a reasonable outlook for the remainder of the year.
Asaleo Care Ltd (ASX: AHY) and Nextdc Ltd (ASX: NXT) rose strongly as well. The pair ended the session 9.7% and 12.3% higher, respectively.
Here are Friday's top stories:
