BENGALURU: Australian shares gave up early gains on Monday, falling to a one-month low, as industrial and healthcare stocks pushed the index down and Brambles Ltd disappointed by slashing its annual profit forecast. In its first trading session since US President Donald Trump’s inauguration, the S&P/ASX 200 index lost 0.4 per cent or 22.05 points to 5627.2 by 01:23 GMT.
The industrial sector was the worst performer as supply-chain logistics company Brambles dived to its lowest in more than 11 months. The company said its annual constant-currency sales revenue and underlying profit growth would be below its current guidance range. “We had some positive leads, but gains have quickly evaporated,” said Christopher Conway, head of research and trading at Australian Stock Report.
