CSL experiences a decline while JB Hi-Fi sees an increase, with corporate news and financial results driving movements on the ASX — a summary of today’s market activity.

The Australian stock market saw a downturn today, driven by a significant drop in CSL following the disappointing results of a medical trial, while JB Hi-Fi demonstrated resilience amid consumer confidence. At the close of trading, the ASX fell by 0.4 percent or 30 points to 7,615 on Monday, with the healthcare sector taking the biggest hit (-3.1%), followed by energy (-0.9%).

However, there were some notable performers, with the education (+1.9%) and utilities (+0.6%) sectors showing strength.

Among the top movers, Beach Energy saw its shares rise by as much as 3.5% to $1.71, reaching their highest level since mid-August 2022. The oil and gas exploration and production company reported revenue from ordinary activities of $953.9 million, marking a 15% increase from the same period last year. Additionally, capital expenditure guidance was revised to the range of $900-$1,000 million from $850-$1,000 million. Beach Energy also announced a fully franked interim dividend of 2 AU cents per share. This surge in share price represented the company’s largest intraday percentage gain since January 25.

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