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All Ordinaries Closes Lower, Retail Food Group Limited Rebounds

The Australian share market, or All Ordinaries (INDEXASX: XAO), closed lower on Thursday as the Retail Food Group Limited (ASX:RFG) share price made a comeback.

The Australian share market, or All Ordinaries (INDEXASX: XAO), closed lower on Thursday as the Retail Food Group Limited (ASX: RFG) share price made a comeback.

Biggest Movers

  • Retail Food Group Limited (ASX: RFG) – up 32%
  • Corporate Travel Management Ltd (ASX: CTD) – up 5%
  • Mineral Resources Limited (ASX: MIN) – up 4.5%
  • BlueScope Steel Limited (ASX: BSL) – up 4.3% (Why? Read more here)
  • Virgin Australia Holdings Ltd (ASX: VAH) – up 3.7%
  • Xero Limited (ASX: XRO) – up 3.1%

Biggest Losers

  • Transurban Group (ASX: TCL) – down 2.4%
  • REA Group Limited (ASX: REA) – down 2%
  • Mighty River Power Ltd. (ASX: MCY) – down 6%
  • Pilbara Minerals Ltd (ASX: PLS) – down 4%

Retail Food Group shares snapped back from a two-week selloff, in which the company’s share price fell more than 60%. The selloff followed allegations of franchisee mistreatment and a profit downgrade.

Amongst the major banks, shares of Commonwealth Bank of Australia (ASX: CBA) lost 0.9% of their price while Australia and New Zealand Banking Group (ASX: ANZ) closed 0.6% lower.

Outside the share market, Bitcoin, the popular digital trading instrument, recovered slightly despite news of insiders trading Bitcoin Case ahead of a public offering at the USA’s largest crypto wallet provider, Coinbase. The currency jumped from less than $2,000 last week to over $3,700 yesterday before Coinbase suspended trading. Read more about Bitcoin Cash here.

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