CSL shares dive, dragging ASX down as biotech flags job cuts and flu spin-off — as it happened
Tony Sycamore from IG has circulated his afternoon report.
He says the ASX200 is on track for its biggest one-day decline since the start of August, as a robust beginning to the earnings season faltered, and as key stocks like Suncorp and Computershare went ex-dividend.
Inflicting pain on the index today, bio tech giant CSL dived more than 15% to $230.49, despite reporting its underlying profit rising by 14% to $3.3bn.
Its falls came after the company announced plans to demerge influenza vaccine company CSL Seqirus as a separate ASX200 listed entity and as its guidance for 2026 fell short of consensus expectations.
Plumbing supplies company Reliance Worldwide was another to meet with investor disappointment as its share price fell 7.72% to…
