ASX Down 0.2pc; Downer Plunges 28pc

Australian Financial Review2022-12-08

Shares are down 0.2 per cent in the opening skirmishes as falling global bond yields are taken as a recession signal in 2023.

Gold miners are some of the best performers as investors ponder falling risk-free yields on sovereign paper and the outlook for 2023.

Downer EDI is 28 per cent lower after it stunned shareholders with a profit downgrade and warning over accounting irregularities. While Link is down 8.3 per cent after it rejected a takeover bid for one of its operating units.

Lithium miner Allkem is up 0.5 per cent on a positive rating from Goldman Sachs, with Core Lithium down 2.3 per cent after Goldman suggested it was a sell.

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