ASX opens lower after CSL plunges to 11-year low
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More news: Australian shares fell at the open as ongoing volatility surrounding fragile peace talks between US and Iran weighed on investor sentiment, coupled with CSL tanking to an 11-year low.
The benchmark ASX 200 was down by 79.3 points, or 0.91%, to 8,665 at 10:56am AEST. Eight of the 11 sectoral indices opened in the red.
Energy (+0.77%) was the strongest performing sector at the open, supported by a lift in Woodside (+1.56%), Santos (+0.80%), New Hope (+1.19%) and Karoon Energy (+1.28%).
Metcash (+8.39%) was the best performing stock at the open despite expecting a drop in its full-year underlying profit.
Dyno Nobel (+8.13%) followed suit as the best performing stock across the ASX 200 after reporting a 39% year-on-year increase in first-half earnings driven by stronger demand in its explosive business.
Elsewhere, healthcare (-8.06%) plunged at the open, weighed down heavily by CSL (-18.25%) after downgrading its FY26 guidance and flagging $5 billion in impairment costs.
Web Travel Group (-4.18%), Iress (-3.36%), Pro Medicus (-3.35%) and Macquarie Group (-3.32%) were also among the worst performing stocks at the open.
On the data front, the ABS is due to release March building approvals figures at 11:30am AEST.
Australian shares to open lower as Trump labels Iran’s peace plan response ‘unacceptable’
The news: The Australian sharemarket is set to open lower as investors continue to assess ongoing tensions in the Middle East after a series of incidents threatened a fragile ceasefire. Markets are also awaiting key announcements from the upcoming federal budget.
The numbers: Updated at 8:00am AEST:
- ASX futures: down 42 points to 8,736 points
- Wall Street: Dow Jones up 0.02%, S&P 500 up 0.84%, Nasdaq up 1.71%
- Europe: FTSE 100 down 0.43%, CAC 40 down 1.09%, DAX down 1.32%
- Spot gold: up 0.63% to USD4,715.85 per ounce
- Oil prices: Brent up 1.23% to USD101.29/barrel, US WTI up 0.64% to USD95.42/bbl
- AUD: up 0.50% at 72.48 US cents
- Bitcoin: up 0.29% to USD80,834.
The context: All three major US indices closed higher on Friday after a stronger-than-expected jobs report and a rally in chip stocks lifted the S&P 500 to a record close. The benchmark index also recorded its sixth consecutive week of gains, according to WSJ.
Elsewhere, Trump has described Iran’s response to the latest US proposal to end the conflict as “totally unacceptable”, after Iran offered to transfer some of its highly enriched uranium stockpile to a third country while rejecting demands to dismantle its nuclear facilities, WSJ reported.
Benjamin Netanyahu also warned the conflict was “not over”, telling CBS’s 60 Minutes that further action was needed to dismantle Iran’s nuclear capabilities and remove its stockpile of highly enriched uranium.
The world’s largest oil producing company Saudi Aramco warned on Sunday it could take several months for oil markets to normalise even if the Strait of Hormuz reopened immediately.
Brent crude edged higher to settle around USD101 ($139) a barrel on Friday, although prices still recorded a weekly decline of about 6%.
On the data front, markets are awaiting the federal budget due to be handed down on 12 May at 7:30pm AEST. The Australian Bureau of Statistics is scheduled to release March building approvals figures at 11:30am AEST.
