Australian shares fell across the board on Monday, tracking a sell-off on Wall Street last week with investors bracing for what would be the RBA’s first cash rate increase in more than a decade.P/ASX 200 Index declined 1.2 per cent, or 88 points, to 7347; the All Ordinaries fell 1.3 per cent, or 101.2 points, to 7623.6.
Shares in Xero skidded 6.6 per cent to $90 after touching its lowest level since August 2020. Tyro Payments dropped 5.6 per cent to 1.19 and Wisetech Global shed 7.3 per cent to $41.97.Aussie Broadband dived 28.1 per cent to $4 in the largest daily loss after downgrading its full-year earnings guidance.
The upbeat, third-quarter update predicted underlying earnings in the six months to June 30 would land between $450 million and $550 million, well ahead of analysts’ estimates.Chalice Mining jumped 2.2 per cent to $7.1 after reporting strong results at its Julimar project in WA.