ASX 200 Tumbles On CSL Profit Warning As Geopolitical Tensions Fuel Market Jitters |
SYDNEY — The S&P/ASX 200 index fell sharply Monday as biotech heavyweight CSL Ltd. delivered a stinging profit warning that wiped billions from market value, compounding investor unease over renewed U.S.-Iran tensions and rising oil prices ahead of Tuesday's federal budget.
At 1:47 p.m. AEST, the benchmark stood at 8,694.6, down 49.8 points or 0.57%. The decline extended Friday's 1.51% rout, pushing the index below its 200-day moving average and leaving it little changed for the year.
CSL shares plunged as much as 20% before paring some losses, hitting an 11-year low around $100 after the company slashed fiscal 2026 guidance and flagged US$5 billion in additional non-cash impairments. Interim CEO Gordon Naylor, following a 90-day review, forecast revenue of about US$15.2 billion and underlying net profit after tax and amortization of US$3.1 billion — both down from fiscal 2025.
The healthcare sector tumbled nearly 8%, dragging the broader market. CSL alone shaved roughly 30 points from the ASX 200, analysts said. Pro Medicus Ltd. also slipped amid sector-wide pressure.
" The announcement was much bigger than anticipated," Jarden analyst Steve Wheen told clients. "It is difficult for us to have a lot of confidence in this name."
Financial stocks added to the selling pressure. Commonwealth Bank of Australia fell about 1.3%, National Australia Bank 1.6%, Westpac 1.7% and ANZ Group 2.9% as it traded ex-dividend. Macquarie........