The Australian share market has suffered its worst loss in two weeks after a rise in coronavirus cases in both the US and Victoria. The benchmark S&P/ASX200 benchmark index finished Thursday down 148 points, or 2.48 per cent, to 5,817.7, while the broader All Ordinaries index closed down 153.6 points, or 2.53 per cent, at 5,928. “You’re still seeing a lot of uncertainty, which is why the market fell in the first 10 minutes of trade, and continued to fall throughout the day,” said Bell Direct...

The board of wind farm operator Infigen are recommending that shareholders accept an $864 million takeover offer from Spanish utility Iberdrola. The recommendation on Tuesday came after Iberdrola waived conditions for its off-market bid, a day after raising its offer to 89 cents per share. “The Iberdrola Offer is a compelling opportunity for Infigen securityholders to provide liquidity and attractive value by comparison to the market price history of Infigen securities at any time prior to...

Collins Foods shares have jumped more than 17 per cent after the company said its underlying full-year profit rose 5.1 per cent to $47.3 million. Revenue for the 53 weeks to May 3 climbed 8.9 per cent to $981.7 million, as Australians flocked to its trusted KFC brand during unsettled times. Its statutory profit was down 20.1 per cent to $31.3 million, mainly reflecting the impact of new accounting standards regarding leases. At 1136 AEST, Collins Foods shares were up 17.3 per cent to...

Construction and property group Lendlease expects to declare a full-year statutory loss of $230 million to $340 million, compared to a $467 million profit last year. Lendlease said exiting its engineering business will cost it around $550 million, the high end of previous estimates, while COVID-19 has reduced the value of its $4 billion investment portfolio by around $130 million to $160 million. The company said its full-year core profit after tax, not including the engineering impacts,...

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