Big Banks Pull ASX on Gloomy Outlook

Big banks pull ASX on gloomy outlook

Mining and healthcare stocks could not save the ASX 200 from Westpac’s mortgage bombshell, which sent the big four banks sliding on Monday.

ASX 200 LIVE: ASX drops as banks sell off; Westpac drops 5pc; FleetPartners, Betmakers, oOh!media get takeover offers

Shares fall as banks sell off; Rival offers $4 per share for FleetPartners, BetMakers for $267 million; TWE writedowns; Follow live.

Westpac Woes Fuel Small-Cap Resurgence

A significant sector-wide sell-off in Australian bank stocks on Monday, triggered by Westpac’s earnings report, has brought renewed attention to the nation’s smaller companies. Westpac reported a slump in mortgage applications following recent government tax reforms, contributing to the financial sector wiping 62 points off the S&P/ASX 200 Index and leading the bourse to a 0.3 per cent loss. In contrast, the S&P/ASX Small Ordinaries Index, fresh…

Closing Bell: Banks stumble, gold miners keep the wolf from the door

Banks weighed on the ASX after Westpac's mortgage warning, but another surge in gold miners stopped the market from sliding ... The post Closing Bell: Banks stumble, gold miners keep the wolf from the door appeared first on Stockhead.