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ALL ORDINARIES Index Down, Macquarie (MQG) Shares Fall

Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 0.07% at lunch.

Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 0.07% at lunch.

One of the main detractors for the index is Macquarie Group Ltd (ASX: MQG), its share price is currently down by 2.7% at lunch after giving the market a trading update at its AGM about its first quarter in FY19. It also announced the retirement of the current CEO and said who the new CEO will be.

The other big piece of news today is that Nine Entertainment Co Holdings Ltd (ASX: NEC) and Fairfax Media Limited (ASX: FXJ) will merge. Nine shares are down 8.33% and Fairfax shares are up 12.3% in response to the news, whilst Domain Holdings Australia Ltd (ASX: DHG) is up by 8.8% after it was announced the combined entity would focus on growing Domain.

In non-ASX news, the Facebook (NASDAQ: FB) share price has fallen more than 20% after it said that user growth was slowing and that spending growth would be more than revenue growth in 2019.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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