Perpetual takes charge as the local market wanes
It was a flat Thursday on the share market. Sentiment was 'meh' - with energy a drag, despite the positive lead from Wall Street, where quarterly earnings continue to impress. Thermal coal futures in China have fallen 20% in two days on the threat of government intervention. The financials made headlines, with fund manager Perpetual surging close to 8% as its FUM passed the $100 billion mark. And investors saw value in the perpetually beaten down AMP. Flight Centre plummeted close to 6 per cent on news of a $400 million capital raise and A2 milk soured on reports it's facing a second class action claim.
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