Steve Daghlian
๐ค SpeakerAppearances Over Time
Podcast Appearances
So the ASX has gone through a pretty tumultuous period, technical glitches, outages, system issues.
And just recently, Helen Lofthouse, who's the current CEO, she's been in that role for about four years, she announced her resignation.
So she's leaving the group in a couple of weeks' time.
The worst performer on the ASX200, though, is Grain Corp.
It is down 13.5%.
Now, this is after saying essentially that its half-year results, its half-year profit have more than halved, down about 55% on the same time last year.
Now, blame this on oversupply in the grains market resulting in lower prices.
That's something that hurt margins across the supply chain.
And it's basically created reduced grower selling activity as well and much more competition too.
The supermarket chain's under pressure today.
One of them is Coles, which is down 2.2%.
And this is after the federal court ruled that the supermarket chain misled shoppers over discounts.
And these are discounts that were advertised in its in-store promotions.
This relates to the ACCC, the competition regulator, basically alleging a couple of years ago
that it was deliberately misleading customers into believing they were actually getting a discount.
But in many cases, prices were being raised quite significantly for a short period of time and then reduced from those higher prices.
So Coles is down, but it's Peer Woolies as well.
So I mentioned that Grain Corp was the worst performer on the ASX 200.
Going a bit broader than that on the All Ordinaries Index, which looks at 500 large companies, Bapcor is the worst performer.
It is down 18.5%.