Financial sector stocks were flat on midday Wednesday, with the rest of the sectors on the Australian bourse trading in the red.
Regal Partners (ASX:RPL) said that its funds under management came in at AU$16.53 billion in the March quarter, down 8.3% compared with AU$18.02 billion in the previous quarter. Net flows over the three months to March 31 came in at AU$149 million, with a negative investment performance of AU$540 million.
The healthcare sector plunged 3.3%, leading a broad decline across the bourse. A spokesperson for the White House confirmed that the US government will lev total tariffs worth 104% on China, escalating a trade war.
US President Donald Trump said that he would announce a major tariff on pharmaceuticals shortly.
Telix Pharmaceuticals (ASX:TLX) named New York Stock Exchange-listed healthcare company Cardinal Health as one of the commercial radiopharmaceutical distributors of its prostate cancer imaging agent, Gozellix. Gozellix is slated for commercial launch in the first half of this year.
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