ASX slips after volatile profit season; Fortescue trades ex-dividend

The Australian sharemarket opened the week lower on Monday following a volatile profit season, which saw the benchmark index set records.
The S&P/ASX 200 Index was down 15.1 points, or 0.2 per cent to 8958.00 at 10.15am AEST . A subdued start to the trading week is expected as US financial markets will be shut on Monday for the Labour Day public holiday.
Five of the 11 sectors were lower led by energy stocks as oil prices slipped on concerns about an oversupply and doubts about a Ukraine-Russia peace deal. Shares in Woodside were down 1 per cent and Santos by 0.4 per cent.
Materials were also weaker as Fortescue Metals lost 4.7 per cent as it traded ex-dividend, while BHP fell 1.2 per cent and Rio Tinto 1.4 per cent.
Consumer staples were the strongest sector, as Coles rose 1 per cent following a strong earnings result last week and Woolworths gained 0.2 per cent.
Stocks on the move
In company news, RPMG lobal rocketed 23.9 per cent after it agreed to an exclusivity period with Caterpillar following receipt of a non-binding proposal to acquire all shares and options for $5 per share.
Coast Entertainment, the operator of Dreamworld, jumped 3.8 per cent as it received a Proposed Call-In Notice from the Queensland Government, which means it is thinking about using it legal powers to take control of the company's development application.
Pro Medicus rose 0.7 per cent as it said that its US subsidiary, Visage Imaging, has been granted an Authority to Operate from the US Department of Veterans' Affairs for its Visage 7 platform in the Veterans Affairs Enterprise Cloud.
Austal fell 0.9 per cent as its founder and inaugural chairman John Rothwell retired from his role as non-executive director, ending a 38-year tenure at the shipbuilder that has transformed into an international defence prime contractor.
Insurance Australia Group gained 1 per cent as it completed an $855 million transaction to acquire a 90 per cent stake in RACQ 's underwriting business and enter a 25-year distribution deal with the Queensland motoring club.
Worley fell 1 per cent as non-executive director Sharon Warburton retired from the company's board with former Incitec Pivot boss Jeanne Johns to join.
Credit Corp lost 0.8 per cent as it said Ewen Crouch has deferred his commencement after being due to join the board as non-executive director on September 1.

Sumber : AFR