FEAR & GREED | Business News Afternoon Report | ASX falls as banks sold off
Oct 14, 2026
The ASX slides as investors sell off the big banks, while Gold Fields considers sweetening its bid for Northern Star. AirTrunk delays its $4.4 billion Singapore float amid volatile markets. Pope Leo XIV recovers after lung cancer surgery, and hackers target refrigeration systems across hundreds of French supermarkets, spoiling fresh and frozen food.
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Banks Dragged The ASX Lower
- Bank weakness dragged the ASX 200 down 0.6% despite gains in energy, Telstra, technology and Austal.
- Commonwealth Bank fell over 2%, while Paladin Energy plunged more than 9% after Namibian production problems.
CBA Warns Of A More Uncertain Economy
- Commonwealth Bank’s AGM highlighted slowing growth, persistent inflation and more frequent international shocks.
- Energy stocks benefited as oil traded near $106 a barrel, while Telstra rebounded 1.3%.
Austal Gains On Fresh Takeover Interest
- Austal shares jumped 10% after extending takeover talks with South Korea’s Hanwha and confirming another potential bidder.
- Glencore also debuted on the ASX, closing at $11.23 while remaining primarily listed in London.