• ASX tumbled 0.85pc, extending its losses last week
  • Treasury Wines rallied after a breakthrough in China wine tariffs
  • Energy stocks dropped, while health stocks CSL, Promedicus rallied 


The ASX 200 extended its losses last week, down by -0.85% on Monday as traders assessed how the war in the Middle East could impact on markets.

Nine out of 11 sectors fell, with Healthcare and Staples the only two finishing in the green.

Staples was helped by the 2% rally in Treasury Wine Estates (ASX:TWE) after reports that China will commence its review on Australian wine tariffs it imposed in 2020, which is expected to take up to five months.

Should the tariffs be removed, TWE says it plans to rebuild its business in China including the continuation of its existing multi-country of origin portfolio growth strategy, led by Penfolds’ French, US and Chinese portfolios.

In the Healthcare sector, CSL (ASX:CSL) led the surge, up almost 2% on no specific news.

Most miners fell, while energy stocks dropped as oil prices eased on Friday as Israel delayed its planned ground invasion of Gaza.

Coal stock New Hope (ASX:NHC) was the worst-performing large cap today, down -8% on no news. Best performer was health stock ARB Corporation (ASX:ARB), which was up 4%.

In the bond market, Aussie yields hovered near recent highs, tracking the 10-year US yield which touched 5%, the highest level since 2007.

Meanwhile, PM Albanese has touched down in Washington D.C. to begin a four-day tour of the US. The trip will focus on AUKUS and clean energy discussions, amongst other things.



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ProMedicus (ASX:PME) rose after announcing that its wholly-owned US subsidiary, Visage Imaging, has signed a $16m, eight-year contract with South Shore Health, the largest independent health system in Southeastern Massachusetts.



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Judo Capital (ASX:JDO) fell almost 6% after announcing a $75 million cap raise in the form of perpetual subordinated notes. Judo says these notes are being issued to raise Additional Tier 1 Capital for Judo Bank.

Viva Energy (ASX:VEA) slumped 2% on its Q3FY23 operating update. Viva dropped despite delivering comparatively strong fuel sales during Q3, up 4.7%, over the same period last year.

“This was a good performance in the context of rising oil prices and generally softer seasonal and economic conditions that persisted through the quarter,” noted Viva.