The Australian share market closed flat on Thursday, as mixed global earnings and local corporate developments weighed on investor sentiment.
The S&P/ASX 200 closed just 3.3 points lower at 8,323.
Nine of 11 sectors fell, with consumer discretionary leading the losses as Wesfarmers shed 1.4%, after Jarden downgraded the retail conglomerate to a sell rating.
GQG Partners experienced a sharp 19.3% decline after announcing a review of its substantial Adani Group holdings. This came in the wake of U.S. federal charges against Adani Chairman Gautam Adani, accusing him of facilitating a US$250 million bribery scheme.
Overnight, U.S. markets presented a mixed picture. The Dow Jones Industrial Average rose 0.3%, the S&P 500 remained flat after recovering early losses, and the Nasdaq slipped 0.1%.
Nvidia, despite surpassing earnings forecasts, saw its stock dip in after-hours trading as investors appeared disappointed by results that didn’t match the explosive growth seen in previous quarters.
Meanwhile, Bitcoin continued to surge past US$97,000, marking a significant milestone amid optimism about potential cryptocurrency-friendly policies following Donald Trump’s re-election.
On the bond markets, 10-year and 2-year rates were at 4.583% and 4.12%, respectively.