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Highlights

  • Market Performance: The S&P/ASX 200 Index is up 0.3% to 7,992.8 points, set to close the week with a modest gain.

  • Block Inc Declines: Shares of Block Inc dropped 3.5% as the payments giant continues to retreat from recent highs.

  • Corporate Travel & Incitec Pivot Drop: Corporate Travel Management fell nearly 3% following an executive departure, while Incitec Pivot slid over 2% due to weather-related business disruptions.

The Australian share market is on track for a positive end to the week, with the S&P/ASX 200 Index (ASX: XJO) gaining 0.3% to 7,992.8 points. However, not all stocks have followed suit, with three notable ASX-listed companies experiencing significant declines today.

Block Inc (ASX:XYZ) – 3.5% Decline

Shares of Block Inc continued their downward trend, slipping another 3.5% to AU$90.80. This drop follows a further retreat in the company's New York-listed shares overnight. The Afterpay owner has now shed 40% from its 52-week high and is trading near its lowest level in a year, reflecting ongoing investor caution.

Corporate Travel Management (ASX:CTD) – 3% Decline

Corporate Travel Management’s shares fell nearly 3% to AU$14.56 after the company announced the departure of its ANZ CEO, Greg McCarthy, effective 30 June 2025. He will be replaced by Jo Sully, a former AMEX GBT executive. The company did not provide a reason for the leadership change, but Managing Director Jamie Pherous expressed gratitude for McCarthy’s contributions, stating that his leadership helped the business navigate significant disruptions and emerge stronger.

Incitec Pivot Ltd (ASX:IPL) – 2% Decline

Shares of Incitec Pivot slipped over 2% to AU$2.62 after the company released a business update highlighting weather-related challenges. Heavy rainfall in Queensland has impacted its Dyno Nobel business, while dry conditions in South Australia, Victoria, and southern NSW have hurt its Fertilisers segment. Additionally, cyclonic activity in Queensland and northern NSW has further disrupted operations. The company now expects only 10% of its fertiliser earnings to be recognised in the first half, with the remainder pushed into the second half of the year.