The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was down 1.4% at lunchtime today, following falls in overseas markets on Friday.
What happened on Friday:
- Dow Jones (USA) – down 1.76%
- NASDAQ (USA): down 2.21%
- FTSE 100 (UK): down 2.22%
- DAX (Germany) – down 2.44%
- EURO STOXX 50 (Europe) – down 2.04%
Compounding the negative leads from overseas markets was news out from insurance giant, Suncorp Group Ltd (ASX: SUN), who this morning revealed that due to natural hazards, profit margins would fall. The news also saw shares of fellow insurers feature prominently in today's biggest losers.
ASX shakers:
- Suncorp Group Ltd (ASX: SUN) – down 9.1%
- Insurance Australia Group Ltd (ASX: IAG) – down 3.9%
- Oil Search Limited (ASX: OSH) – down 5.16%
- Macquarie Group Ltd (ASX: MQG) – down 3.06%
- QBE Insurance Group Ltd (ASX: QBE) – down 3.9%
On a day of heavy selling pressure ahead of the USA's Federal Reserve interest rate decision on Thursday morning, there were few companies trading meaningful higher on the ASX today.
ASX movers:
- Regis Resources Limited (ASX: RRL) – up 5.4%
- Beach Energy Ltd (ASX: BPT) – up 4.7%
- AWE Limited (ASX: AWE) – up 1.8%
- G8 Education Ltd (ASX: GEM) – up 2.3%
- Newcrest Mining Limited (ASX: NCM) – up 1.02%
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