ASX flat after Wall Street treads water near record highs

The Australian sharemarket is relatively flat, following in the footsteps of Wall Street on Friday, which had a quiet finish to the week. The S&P/ASX 200 Index was down 12.5 points, or 0.2 per cent, to 7711.8 at 1.15pm AEST, with shares in technology, energy and industrial companies leading the losses. Tabcorp shares slid 0.8 per cent after the company appointed Gillon McLachlan, former boss of the Australian Football League, as its new chief executive. McLachlan will act as an observer under chair Bruce Akhurst until he officially joins the business in August. Embattled online retailer Booktopia has suspended trading in its shares after instigating a trading halt last week. The company said “outcomes from the strategic review, including the seeking of additional funding, have not progressed to the extent where it is capable of making an announcement”.