The Aussie market is firmly underwater today, with local stocks being sold off early in the new trading week after a horrid night on international markets on Friday. The XJO is presently down 34 points (-0.8%), at 4380.
All sectors are weaker, with materials, energy and healthcare stocks the weakest links. In company news, Graincorp has jumped 40.1% after receiving a $2.68 billion takeover offer from Archer Daniels Midland, valuing the company at $11.75 a share.
Elsewhere Sundance has soared 5% after extending the deal deadline for its Hanlong takeover until January 11, 2013. Around the region, Asian markets are all weaker; the Shanghai Composite is down 0.3%, whilst the Nikkei is lower by 0.9%.