The Australian sharemarket recovered most of its early losses as the day wore on, boosted by robust capital expenditure figures released by the ABS.
At 3.30pm the ASX200 was 0.53% lower at 4072.4, while the broader All Ordinaries was 0.44% lower at 4130.30.
New figures released today showed capital expenditure rose by a seasonally adjusted 6.1% to 40.002 billion in the March quarter. This was well above the 3.3% rise expected by the market.
Wall Street fell more than 1% and major European markets lost closer to 2% overnight.
ABOUT THE AUTHOR
Myriam Robin is a reporter for SmartCompany and its sister site LeadingCompany. She has degrees in economics, international studies and journalism. She likes writing about businesses taking risks and doing new things.
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