The share market is significantly weaker for a second straight day due to concerns about China’s market volatility and a plunge on Wall Street.
The main indices were more than one per cent weaker due to falls in all sectors, though some miners and energy stocks staged modest rebounds from Thursday’s heavy losses.
Oil and gas company Santos was up more than two per cent despite announcing the departure of its chief executive and an 82 per cent slump in annual profit.
The big four banks were all down more than 1.5 per cent, while IAG had dropped more than four per cent after a 40 per cent fall in annual profit.
Medibank Private shares had surged 10 per cent after the health insurer beat its full year profit guidance.
KEY FACTS
* At 1201 AEST, the benchmark S&P/ASX200 index was down 57.4 points, or 1.09 per cent, at 5,231.2 points.
* The broader All Ordinaries index was down 54.4 points, or 1.03 per cent, to 5,241.1 points.
* The September share price index futures contract was down 52 points at 5,185, with 22,514 contracts traded.
* National turnover was 1.2 billion securities worth $3.6 billion.
