A modest rise on the ASX did little to halt the slide of surfwear company, Billabong.
The beleagured company’s shares lost 18% today on reports that private equity group TPG might withdraw its bid to buy the company. Billabong went into a trading halt early this afternoon.
At 2.10pm, the ASX200 added 0.24% to 4449.2, while the broader All Ordinaries index gained 0.22% to 4468.5.
The dollar continued to soften, buying $US1.02115.