Australian shares are down about 60.70 points or 0.78% to 7,735.30, with the market crossing below its 20-day moving average. The bottom-performing stocks were Resmed Inc and Deep Yellow Ltd, down 13.03% and 6.16% respectively.
Over the last five days, the index is virtually unchanged, but is currently 2.21% below its 52-week high.
Information Technology was up 0.71%, Industrials were up 0.38% and every other sector was pointing down just after midday. By close of play only Industrials were still in the green (0.71%), with IT down 0.15%.
Energy, Consumer Discretionary and Health Care, down 1.81%, 1.17% and 1.63% respectively, were the biggest drags on the markets, with everything else slightly down.
Climate Advisory leader a Liberal
In a rare hands-across-the-aisle moment, the ALP has tapped Matt Kean, a strong advocate for climate and former Liberal Treasurer and Energy Minister of NSW, to lead its Climate Advisory Authority as chair.
Kean resigned from NSW politics last week to replace businessman Grant King at the helm of the independent statutory body, which provides expert advice to the government on climate and energy policy.
Minister for Climate Change and Energy Chris Bowen said: "Good climate and energy policy is good economic policy — the Albanese Government gets that and so does Matt Kean.
"Matt Kean's time in public office was marked by reform and the ability to bring people from across the political spectrum with him for the good of the community."
Five at five
Recce Pharmaceuticals gets ethics green light for RECCE® 327 Gel clinical trials across topical bacterial skin infections
Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has garnered Human Research Ethics Committee (HREC) approval to commence a Phase 2 clinical trial of RECCE® 327 (R327) Gel for acute bacterial skin and skin structure infections (ABSSSI).
Iondrive partners with Wood Group for black mass processing plant conceptual engineering design
Iondrive Ltd (ASX:ION) has undertaken a concept study with the Wood Group consulting and engineering company to produce a process design for a 10,000-tonnes per year commercial black mass processing plant.
Imugene doses first patient in IV arm of Phase 1 onCARlytics trial targeting solid cancers
Imugene Ltd (ASX:IMU, OTC:IUGNF) has dosed the first patient in the intravenous (IV) infusion combination arm of its Phase 1 onCARlytics trial.
Gold Hydrogen kicks off 2D regional seismic survey at Ramsay Hydrogen-Helium Project
Gold Hydrogen Ltd (ASX:GHY) has contracted Terrex to conduct a 2D regional seismic survey over its flagship Ramsay Project in South Australia, which is prospective for natural hydrogen and helium.
Anson Resources collaborates with Koch Technology Solutions on Green River Lithium Project pilot testing
Anson Resources Ltd (ASX:ASN, OTCQB:ANSNF) will collaborate with Koch Technology Solutions (KTS) to commission a Li-Pro™ lithium selective sorption (LSS) pilot unit for lithium extraction at the company’s Green River Project in Utah, USA, with pilot unit production on track to begin next month.
On your six
Armaguard secures $50 million bailout to stay afloat as declining cash transactions threaten survival
Armaguard, Australia's last remaining cash transport company, will receive a $50 million bailout from its eight largest customers, including major banks. The company has been grappling with financial difficulties due to the rapid decline in cash usage.
The one to watch
Race Oncology partners with George Clinical for RC220 bisantrene trials
Race Oncology Ltd (ASX:RAC, OTC:RAONF) chief medical officer Dr Michelle Rashford joins Proactive’s Meagan Evans to discuss the appointment of global contract research organisation George Clinical International to support the clinical development of its RC220 bisantrene as a cardioprotective and anticancer treatment in solid tumour patients.