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Bloodbath on the Unmade Index continues
It was an even deeper plunge into the red on the Unmade Index on Thursday as nearly every stock fell in share price.
The Index, which measures how ASX-listed media and marketing companies are performing, dropped 2.76% to an even lower 656.3 points, just a week after finally cracking the 700 ceiling.
The biggest losers of the day were Southern Cross Austereo and Domain, which saw significant falls of 10.50% and 7.84% in share price, respectively.
SCA’s fall was on the back of releasing annual results recording a decline in revenue and profits, and a cut to the company’s dividend rate for shareholders. There will be further analysis of the SCA results in tomorrow’s edition Best of the Week.
Seven West Media’s poor run continued, coming in as the third biggest laggard with another 5.33% fall in share price. Communications agency group Enero fell 3.46%, and Ooh Media dropped 1.41%. Nine, the biggest stock on the Index, fell 0.97%.
The only stock to rise above in the bloodbath was Pureprofile, lifting 10.71% in share price.
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