ASX 200 Starts the Week Lower as Big Banks Fall

  • Stock Market News
ASX 200 Starts the Week Lower as Big Banks Fall
Credit: © Reuters.

By Oliver Gray - The asx 200 was 32.70 points or 0.44% lower in Monday’s morning deals, as investors proved uneasy amid growing coronavirus infection rates across the United States and Europe, sinking airline stocks while easing bond yields hit financials.

ASX 200 Futures also traded 0.12% lower.

Among stocks, heavyweight miners were mixed, and Rio Tinto Ltd (ASX: RIO ) and Fortescue Metals Group Ltd (ASX: FMG ) added 0.64% and 1.49% respectively, while BHP Billiton Ltd (ASX: BHP ) dipped 0.41%. Big bankers also dipped, with Commonwealth Bank Of Australia (ASX: CBA ) down 1.9%, National Australia Bank Ltd (ASX: NAB ) down 1.33%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) dipping 1.7% and Westpac Banking Corp (ASX: WBC ) falling 1.63%. Airliners also struggled, with Webjet Ltd (ASX: WEB ) down 2.03%, Qantas Airways Ltd (ASX: QAN ) losing 2.01%, Flight Centre Ltd (ASX: FLT ) down 2.73% and Sydney Airport Holdings Ltd (ASX: SYD ) losing 0.12%. Meantime, AMP Ltd (ASX: AMP ) shares climbed 2.64% after the wealth manager said it had clung to its role managing a successful real estate fund.

In currency markets, the Aussie was trading near 5-week lows of 0.72337 while the US Dollar Index was flat at 16-month highs.

On the bond markets, Australia 10-Year were at 1.799% while United States 10-Year were at 1.56%.

In New Zealand, the NZX 50 fell to fresh 3-month lows, down 98.5 points or 0.77% to 12641.62.

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