AU Evening Wrap: ASX Falls 0.5%; Iress Craters 36%

The $S&P/ASX 200(.XJO.AU)$ extended losses recorded earlier during the trading session, and was down 0.5 per cent, or 32.6 points, to 7115.5 at the closing bell.

Dairy producer $The a2 Milk Co Ltd(A2M.AU)$ sank 13.6 per cent after it warned that its key China market would be more challenging this year with a further double-digit decline in value expected.

$Elders Ltd(ELD.AU)$ plunged 10.8 per cent after it downgraded its profit forecasts, citing weaker-than-expected sales.

Software company $IRESS Ltd(IRE.AU)$ shares cratered 35.5 per cent and was among the worst performers on the ASX. It suspended its interim dividend following the completion of its plan to sell its managed funds administration business.

Meanwhile, $Ampol Ltd(ALD.AU)$ rallied 3.8 per cent after its CFO told investors it would not do a deal that would require capital to be raised.

$Premier Investments Ltd(PMV.AU)$ surged 12.2 per cent following its announcement that the decision to undertake an operational review – helped by UBS and Arnold Bloch Leibler – would help unlock value in the company's various businesses.