Billabong bucks market to fall 17%: Afternoon market insights
Friday, October 12, 2012/
The Australian sharemarket neared the close modestly higher today, despite surfwear giant Billabong posting a 16.42% fall after private equity firm TPG capital withdrew its takeover offer early this morning.
The ASX200 added 0.13%, while the broader All Ordinaries index gained 0.15%.
The Australian dollar dipped slightly, buying $US1.02655.