ASX 200 falls as banks cut jobs and healthcare declines

The Australia 200 trades 36 points (-0.42%) lower at 8793 as of 2.25pm AEST.

Banks and healthcare weigh on ASX 200

The Australia 200 (ASX 200) has sliced through the 8800 level today, falling 47 points (-0.53%) to a low of 8782.40, weighed down by losses in the big banks and healthcare stocks.

The decline in the big banks came after Bendigo Bank became the third bank to announce job cuts, following similar announcements by Australia and New Zealand Banking Group (ANZ) and National Australia Bank (NAB) earlier this week.

While job cuts can be viewed positively by the market - indicating that leadership is prioritising shareholder interests by cutting costs and boosting earnings. Additionally, they can raise concerns about broader economic weaknesses, potential declines in customer service quality, and the long-term impacts of automation and offshoring on workforce morale and innovation.

ASX 200 stocks

Energy sector

The energy sector of the Australia 200, which has experienced a challenging start to September, snapped a four-day losing streak after crude oil finished 1.56% higher overnight at $63.75. The rally was supported by rising geopolitical tensions in Europe after Russian drones entered Polish airspace, and following Israel’s action against Hamas leaders meeting in Qatar. The move was also boosted by President Donald Trump's call for the European Union (EU) to impose 100% tariffs on China and India for their continued purchase of Russian crude oil.

• Beach Energy gained 3.21% to $1.20
• Santos Limited added 1.04% to $7.74
• Woodside Energy climbed 0.67% to $24.93.

Financial sector

• ANZ fell 1.71% to $32.80
• Bendigo Bank dropped 1.26% to $12.49
• NAB lost 1.22% to $42.88
• Westpac declined 1.1% to $37.87
• Commonwealth Bank of Australia fell 0.82% to $167.14, despite owning a 4.69% stake in Swedish firm Klarna, which debuted on the New York Stock Exchange (NYSE) overnight, finishing at $46.40 - up 16% from the $40 initial public offering (IPO) price.

Gold stocks

Gold stocks had a positive day as the price of bullion increased 0.4% overnight to $3640, supported by rising geopolitical tensions.

• Resolute Mining Limited rose 7.91% to $0.85
• Regis Resources Limited added 6.53% to $5.46
• Evolution Mining Limited gained 5.31% to $9.62.

Healthcare sector

The healthcare sector of the Australia 200 fell today, mirroring the sector's losses on Wall Street overnight. 

• CSL fell 2.41% to $205.82, breaking below last week’s six-year low of $205.92
• Telix Pharmaceuticals slipped 3.47% to $13.92 ResMed lost 2.58% to $41.18
• Primary Health Care dropped 1.89% to $0.78.

Telecommunications sector

• Service Stream Limited surged 15% to $2.30 after announcing a $1.6 billion deal with the Australian Department of Defence. The six-year contract, with options to extend up to ten years, involves providing property and asset services across 113 defence sites in South Australia and the Northern Territory, including eight major bases, starting in February 2026. This deal marks a significant expansion for Service Stream, traditionally focused on telecommunications and utilities, into the defence sector, securing a stable, long-term revenue stream backed by government spending.

Uranium stocks

• Boss Resources fell 12.15% to $1.73 as its troubles with the Honeymoon project in South Australia continue.

ASX 200 technical analysis

Last Tuesday's fall in the Australia 200 helped work off extreme overbought readings on the weekly chart. Ideally, we would like to see the recent pullback extend into the 8630 - 8600 support band, which would account for a neat 5% pullback from the 9054.5 record high.

We are aware that should the Australia 200 first reclaim resistance at 8900 - 8920, it would likely indicate that the correction is complete at the recent 8731 low, and the uptrend has resumed.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of 11 September 2025. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}