Australian shares fell on Wednesday in the first full trading day since the Reserve Bank raised rates for the first time in more than a decade, dragging the market lower for a third consecutive session.P/ASX 200 inched down 0.2 per cent, dragging the blue-chip benchmark 11.5 points lower to close at 7304.7 points. The index has fallen 1.8 per cent this week and declined 1.9 per cent since the year began.P All Ordinaries index, which tracks a broader number of shares, fell 0.3 per cent to 7564.
The shares then suffered a stinging about-face as investors soured on the company, which may be in part related to news that AVZ threatened legal action against a transfer of shares in Dathcom that it believes invalidated a shareholder agreement. Energy shares added 0.8 per cent, the top-performing sector for the day, followed by financials, which climbed 0.7 per cent.
0.2pc Really? That's your headline? And how exactly is it attributed to interest rates rising? Can't believe people pay for this garbage