ASX Flat; Myer Soars 16%; Market Backs Xero Job Cuts; ASX Heavyweights to Trade Ex-Dividend
The Australian Financial Review2023-03-08
Australian shares are trading flat as shares in index majors CSL, BHP and Rio Tinto trade ex-dividend.
The S&P/ASX 200 opened up 0.04 per cent to 7311 at 10:30am AEDT led by gains in info tech, up 2.7 per cent. Materials fell 1.5 per cent.
Department store giant Myer surged 16 per cent after it rewarded shareholders with a super-sized dividend and posted a more than 100 per cent surge in bottom-line net profit in the first half.
Xero gained 8 per cent on news it would cut up to 800 jobs to improve profitability, representing about 15 per cent of its total headcount.
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