Chanticleer
What we learnt: Profit downgrades end dash for trash
Having bid up some of last year’s most beaten-down stocks on hopes of a soft landing, investors are now being spooked by earnings downgrades.
Is the New Year rally running out of steam? While the ASX 200 eked out a small gain on Tuesday, several profit results suggested there are serious questions about the soft landing scenario that bulls have been promoting.
Rubber glove and protective equipment maker Ansell downgraded its profit outlook after the market closed on Monday night, warning it was still being battered by the normalisation of global supply chains after the pandemic.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Equity markets
Fetching latest articles