The Australian share market has slipped into the red, with big falls for the major banks, failing to follow a strong lead from Wall Street at the end of last week.
Key points:
- The S&P 500 rose 0.9 per cent on Friday, while the Nasdaq was up 1.5 per cent
- The ASX posted much more modest gains at the open
- The Australian dollar recovered from a fall on Friday to 77.4 US cents
By 12:05pm AEST, the ASX 200 was down 0.1 per cent to 7,286 points, retreating from modest gains posted earlier in the session.
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