Australian Shares Drop Amid Austal’s $17.1M EBIT Guidance Revision
On Friday morning, Australian Shares moved lower as investors reacted to weak global cues and a sharp earnings downgrade from Austal Limited. The benchmark S&P/ASX 200 slipped in early trade, tracking losses in the United States where tech stocks fell again overnight. The trigger at home was clear. Austal revised its earnings guidance and said…