(RTTNews) - The Australian stock market is declining on Monday after the banking regulator's announcement of the launch of an independent inquiry into Commonwealth Bank dragged down banking stocks. In addition, weakness in base metal prices weighed on mining stocks.
In late-morning trades, the benchmark S&P/ASX 200 Index is declining 39.80 points or 0.69 percent to 5,704.10, off a low of 5,700.50. The broader All Ordinaries Index is down 36.70 points or 0.63 percent to 5,766.70.
The big four banks - ANZ Banking, Westpac, Commonwealth Bank and National Australia Bank - are lower in a range of 1.1 percent to 1.7 percent.
The Australian Prudential Regulation Authority or APRA said it will launch an inquiry to look at governance, culture and accountability practices at Commonwealth Bank after recent allegations that it violated laws.
In the mining space, Rio Tinto is declining more than 1 percent and Fortescue Metals is losing almost 2 percent, while BHP Billiton is up 0.2 percent.
Gold miners are advancing after gold prices gained on Friday. Newcrest Mining is edging up less than 0.1 percent and Evolution Mining is adding almost 1 percent.
Oil stocks are also higher after crude oil prices rose on Friday. Santos is rising more than 2 percent, Oil Search is adding 0.3 percent and Woodside Petroleum is up 0.2 percent.
Australian Pharmaceutical Industries, the operator of Priceline pharmacies, has withdrawn from the potential acquisition of Laser Clinics Australia saying the sale price was too high. Shares of API are adding 0.2 percent.
Amaysim Australia reported a 6.5 percent decline in net profit for the full year, while its underlying earnings rose 22.9 percent. The mobile service provider's shares are gaining almost 6 percent.
CSL has agreed to acquire U.S. biotechnology company Calimmune, which is developing a stem cell gene therapy to treat rate conditions such as sickle cell disease, for an up-front payment of $91 million. Shares of CSL are adding 0.3 percent.
Ten Network has been acquired by U.S. media giant CBS Corp. Shares of Ten Network are in a trading halt since June 13 after it was placed into voluntary administration.
In the currency market, the Australian dollar rose against the U.S. dollar, which weakened after the Jackson Hole speeches by global central bankers. In early trades, the local unit was trading at US$0.7925, up from US$0.7904 on Friday.
On Wall Street, stocks closed mixed on Friday after seeing early strength that partly reflected optimism about tax reform following comments from President Donald Trump's chief economic adviser Gary Cohn.
The Nasdaq edged down 5.68 points or 0.1 percent to 6,265.64, while the Dow inched up 30.27 points or 0.1 percent to 21,813.67 and the S&P 500 ticked up 4.08 points or 0.2 percent to 2,443.05.
The major European markets moved modestly lower on Friday. While the French CAC 40 Index slipped by 0.2 percent, the U.K.'s FTSE 100 and the German DAX Index both edged down by 0.1 percent.
Crude oil prices gained on Friday as the dollar fell and the U.S. petroleum industry braced for Hurricane Harvey. WTI crude rose $0.44 or 0.9 percent to close at $47.87 a barrel on the New York Mercantile Exchange.
See the rest here:
Australian Market Declines - Markets Insider
- Global Cell Therapy Technologies Market : Industry Analysis and Forecast (2018-2026) - Bulletin 99 - January 25th, 2020
- MDA Awards Venture Philanthropy Funding of More Than $1M to AavantiBio to Develop Gene-Targeting Therapy for Friedreich's Ataxia - P&T Community - January 14th, 2020
- Oncocyte Announces the Commercial Availability of DetermaRx, the First Test for Chemotherapy Benefit Prediction in Patients with Early Stage Non-Small... - January 14th, 2020
- The Region's Health Leaders on What's New and What the Next Decade Will Bring - Business West - January 9th, 2020
- Endothelial Dysfunction Industry 2019-2025 Market Analysis by Size, Share, Growth, Regional, Manufactures, Application and Forecast Research Report -... - January 9th, 2020
- Cell Harvesting Market is Expected to Reach USD 387.9 Million by 2025| Bertin, Tomtec, Terumo BCT, HynoDent AG, Avita Medical, Argos Technologies -... - January 9th, 2020
- Insights on precision oncology developments in Japan and beyond - MobiHealthNews - January 6th, 2020
- Novel discovery in gene therapy to treat kidney diseases - WeForNews - January 5th, 2020
- Top Providers of the Alpha Thalassemia Market gives a New Dimension easing Measurement and Quantification - GuruFocus.com - December 27th, 2019
- This was the best health news over the last decade - USA TODAY - December 18th, 2019
- US Network of Specialized Angelman Clinics to Double Thanks to New Partnership - Angelman Syndrome News - December 13th, 2019
- ICMR issues guidelines for gene therapy in India - Daily Pioneer - December 13th, 2019
- Mergers and Acquisitions Will Strengthen Payer Identity in 2020 - HealthPayerIntelligence.com - December 13th, 2019
- University of Iowa researchers say $18 million grant could soon lead to cure for rare brain disease - KCRG - December 13th, 2019
- Parkinsons Disease Treatment Market 2019- Global Industry Analysis, by Key Players, Segmentation, Application, Demand and Forecast by 2025 - Tribunal... - December 13th, 2019
- Cancer gene therapy backed by Blackstone gets trial win - BioPharma Dive - December 6th, 2019
- Counterculture 73: Summer Jam, Timothy Leary and the Sexual Revolution - Rolling Stone - December 6th, 2019
- Precision Cancer Therapies Market Size, Status and Forecast 2025 Trends, Size, Drivers, Strategies, Products and - The Market Stats News - December 6th, 2019
- World AIDS Day 2019: 37.9M people worldwide were living with HIV at the end of 2018 - USA TODAY - December 2nd, 2019
- Global Parkinsons Disease Treatment Market 2019 Analysis by Industry Growth, Size, Share, Trends and Forecast by 2025 - Eastlake Times - November 30th, 2019
- Diabetic foot wounds kill millions, but high-tech solutions and teamwork are making a difference - Thehour.com - November 28th, 2019
- Macular Degeneration Treatment Market and its Future Outlook and Trend During the Period of 2019 2026 - The Chicago Sentinel - November 25th, 2019
- Edited Transcript of BLFS earnings conference call or presentation 12-Nov-19 9:30pm GMT - Yahoo Finance - November 20th, 2019
- U.S. stem cell clinic offering unapproved therapies brings direct-to-consumer marketing to Ottawa - Ottawa Citizen - November 18th, 2019
- Hemophilia Treatment Market Dynamics, Pin-Point Analysis, Comprehensive Landscape, Demand Key Factors, Market Segments Regions, Therapy For Hemophilia... - November 18th, 2019
- Abuse in cell banking services a global problem - Bioprocess Insider - BioProcess Insider - November 14th, 2019
- Anti-Aging Products and Therapies Market Outlook: Investors Still Miss the Big Assessment - The Market Journal - November 11th, 2019
- Tip Sheet: A clever way to make an AIDS vaccine; how a common cancer mutation actually drives cancer; and a new process that regulates red blood cell... - November 9th, 2019
- Global Cell Therapy Technologies Market Industry Analysis And Forecast (2018-2026) - The Market Expedition - November 6th, 2019
- Davenport & Company Upped By $3.56 Million Its Sgmo (SGMO) Holding; EMPOWER CLINICS ORDINARY SHARES (EPWCF) Shorts Raised By 2360% - MS Wkly - November 6th, 2019
- Dr Batra's have launched a new genetics-based therapy that predicts future diseases - Gulf Today - October 31st, 2019
- Deepak Chopra Has Never Been Sick - The New Yorker - October 18th, 2019
- The Patient Perspective On Patient Centricity Insights From A Veteran Of 5 Clinical Trials - Clinical Leader - October 12th, 2019
- Parkinsons Disease Treatment Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2025 - The Ukiah Post - October 11th, 2019
- Transfusion-dependent Anemia Treatment Market Gain Impetus due to the Growing Demand over 2019 2029 - Herald Space - October 1st, 2019
- Non-viral Gene Therapy will now accelerate cancer study - Industry Reporter - September 28th, 2019
- Social Impact Heroes: How Lynn OConnor Vos and the Muscular Dystrophy Association are helping to raise billions of dollars to fund research to... - September 28th, 2019
- Pollard and Norris in the race for Pos. 2 of the Public Hospital District 4 - Snoqualmie Valley Record - September 28th, 2019
- Nearly Half of Poland's SMA Patients on Track to Get Spinraza, Experts Say - SMA News Today - September 28th, 2019
- Prospective Study Characterizes PCa Risk Linked to BRCA1, BRCA2 Mutations - Renal and Urology News - September 28th, 2019
- Precision Cancer Therapies Market Forecast Research Reports Offers Key Insights 2017 2025 - Space Market Research - September 28th, 2019
- Google bans ads for 'bad actors' selling 'deceptive treatments' - BioEdge - September 22nd, 2019
- Texas State To Expand Round Rock Campus Programs, Services - Round Rock, TX Patch - September 22nd, 2019
- Transfusion-dependent Anemia Treatment Market Size, Status and Growth Opportunities by 2025 - The Market Plan - September 22nd, 2019
- Chemotherapy Drugs Market Strategies, Major Industry Participants, Marketing Channels and Forecast To2018 2028 - Commerce Gazette - September 22nd, 2019
- Targeted Cancer Therapies Market Regional Landscape, Production, Sales & Consumption Status and Prospects 2025 - Commerce Gazette - September 22nd, 2019
- Precision Cancer Therapies Market to Witness Comprehensive Growth by 2017 2025 - Technology Trend - September 22nd, 2019
- Biological Product Manufacturing Market Analysis, Size, Regional Outlook, Share, Trend, Growth, Analysis and Forecast - Rapid News Network - September 22nd, 2019
- Google Bans Advertising on Unproven Medical Treatments (like Stem Cells) - Bedford Bulletin - September 22nd, 2019
- 4 Barriers To Cell And Gene Therapy Development For Rare ... - May 18th, 2019
- Gene Therapy: The New Frontier for Inherited Retinal Disease - April 16th, 2019
- Nutrition : The Addiction Recovery Guide - March 25th, 2019
- F.D.A. Speeds Review of Gene Therapies, Vowing to Target ... - February 17th, 2019
- Cell and Gene Therapy Center - IQVIA - December 24th, 2018
- resurrection-clinics.eu - August 24th, 2018
- Hacking Your Genes Has Never Been Easier - Outside Magazine - September 8th, 2017
- FDA approves first cell-based gene therapy for use in the United States - Gears Of Biz - September 8th, 2017
- Quick Hits: Withdrawn Leukemia Drug Returning, Drugmaker in $58M Settlement Over Sales Reps, and More - MedShadow (registration) (blog) - September 8th, 2017
- FDA Approves New Cancer Treatment - Alive For Football - September 5th, 2017
- Global Cancer Biological Therapy Analysis & Forecast 2016 to 2023 - Digital Journal - September 5th, 2017
- How one California county is fighting high-priced surgeries - Los Angeles Times - September 2nd, 2017
- New 'hit-and-run' gene editing tool temporarily rewrites genetics to treat cancer and HIV - GeekWire - September 2nd, 2017
- New Stanford drug saves child with deadly genetic disease - The Mercury News - August 25th, 2017
- Orphan Diseases Market Key Players analysis ... - Digital Journal - Digital Journal - August 25th, 2017
- Gene Editing in Human Embryos Leaps ForwardHere's the Science - Singularity Hub - August 22nd, 2017
- Global Cancer Biological Therapy Market 2017 Size, Development Status, Type and Application, Segmentation ... - Digital Journal - August 22nd, 2017
- Traditional Therapy Clinics Ltd (TTC.AX) Money Flow Index Levels in Focus - Stock Daily Review - August 22nd, 2017
- Sodium Iodide Symporter for Nuclear Molecular Imaging and ... - August 13th, 2017
- Biological bypass shows promise in coronary artery disease - Medical Xpress - August 12th, 2017
- Cardiovascular disease cure? One session of THIS could help treat condition - Express.co.uk - August 9th, 2017
- Understanding the muscle behind global duchenne muscular dystrophy market - WhaTech - August 9th, 2017
- Proton Therapy: How It Could Change The Outcome of Paediatric Cancer - HuffPost - August 5th, 2017
- Wilson's Disease Market: Unmet Needs of Patient Population to Inspire Players for Improved Treatment Options - Edition Truth - August 5th, 2017
- In a first, scientists edit fatal gene mutation out of DNA - Asheboro Courier Tribune - August 4th, 2017
- Head and Neck Cancer Therapeutics Market is Expected to Generate Huge Profits by 2024 - MilTech - July 12th, 2017
- Cancer Biological Therapy market is rising with potential rate at CAGR of 4.7 % till 2023 - MENAFN.COM - July 11th, 2017
- Stem cell therapies breaking barriers - Guardian (blog) - July 9th, 2017
- Alternative Cancer Clinics - Immunotherapy for Cancer - July 8th, 2017
- Advanced Gene-Targeted Therapies - Alternative Cancer Clinics - July 8th, 2017
- Cure for ageing could lie in gene therapy | WIRED UK - July 1st, 2017