ASX down by 2.6pc as material and banking stocks slide

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BREAKING: The ASX is absorbing worse-than-expected Chinese manufacturing numbers that came out over the weekend with a 2.2 per cent fall to 6300 points, taking it back to where it was in May 2019.

Bega Cheese shares are down 8.9 per cent to $3.69, recovering from a fall to $3.52 in the first half hour of trading. This morning the dairy and food company said it expects continued challenges to milk supply in the short term as farmers battle drought, but a surge in export earnings has helped it offset challenges facing the dairy industry.

The index has fallen even further than the opening drop and is now down by 2.7 per cent to 6268 points. The biggest decline is Fortescue Metals, which is down 12.4 per cent, but it has gone ex-dividend. And Silver Lake Resources is more than 10 per cent.Why gold is falling "With a very high level of uncertainty, volatility has increased significantly,'' says chief investment officer at Talaria Capital, Chad Padowitz.

 

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Belgique Dernières Nouvelles, Belgique Actualités