The ASX Is Retaining Losses And BHP Shares Are Down

The ASX is retaining losses at lunchtime, with banks still under pressure and helping to pull the index back to levels last seen in October.

The S&P/ASX 200 index is down 29 points, or 0.5 per cent, at 5791 while the All Ordinaries is down 30 points, or 0.5 per cent, at 5898. The Australian dollar is trading up 0.3 per cent at US77.24¢.

Banks trading with losses included CBA, down 0.7 per cent, ANZ, down 0.9 per cent, NAB, down 0.8 per cent and Westpac, down 0.5 per cent.

BHP shares were down 0.6 per cent, CSL shares fell 0.7 per cenr and A2 Milk lost 2.7 per cent.

AMP fell 1.6 per cent after it said its CEO will resign by the end of the year.

Gold miners remained higher at lunchtime, with Newcrest up 1.8 per cent, and oil and gas producer Santos climbed 1.6 per cent.

Gold futures posted the biggest weekly advance in almost two years last week as mounting economic and geopolitical tensions fuelled demand for the metal as a haven.

The metal advanced 3.3 per cent over the week, the most since April 2016.

Gold dipped $1.41 to $1345.84 an once on Monday.