Falling banking stocks dragged the US equity market down on Thursday amid worry about fallout from a Greek default, but Apple and Google helped the Nasdaq gain for a fourth straight day.
The Dow Jones Industrial Average fell 40.72 points (0.35 per cent) to finish at 11,478.13.
European shares closed flat on Monday, with banks paring some earlier losses as worries over Greece eased, while drugmakers largely gained after the United States passed a healthcare bill which provided clarity for the sector.
The Australian stock market has clocked up its second-worst trading day for the year, closing down 5 per cent to its lowest point in three-years as panic selling engulfs markets around the world due to growing fears about the global financial crisis.
The Australian stock market failed to follow Wall Street's higher lead overnight, with the benchmark index falling below the 6,000 mark, leaving investors nursing the weakest start to new year trading for 17 years.
Nedlands-based pharmaceutical company PharmAust Ltd will take a 39.5 per cent stake in Nasdaq-listed US-based Commonwealth Biotechnologies Inc in exchange for its discovery chemistry subsidiary, Mimotopes Pty Ltd.
Nedlands-based pharmaceutical company PharmAust Ltd will take a 39.5 per cent stake in NASDAQ-listed US-based Commonwealth Biotechnologies Inc in exchange for its its discovery chemistry subsidiary Mimotopes Pty Ltd.
WA pharmaceutical company PharmAust Ltd will sell discovery chemistry subsidiary Mimotopes Pty Ltd to US-based Commonwealth Biotechnologies Inc for a scrip consideration of between $8.6 and $10.6 million, 16 months after PharmAust acquired the company.