ASX Midday Sector Update: Consumer Staples Stocks Surge, Healthcare Sector Struggles

MT Newswires Live03-21 02:39

Consumer staples stocks surged 3.3% at midday Friday after a report from the competition regulator found that supermarket giants Coles Group (ASX:COL), Woolworths Group (ASX:WOW), and ALDI are some of the most profitable supermarket businesses among global peers.

The Australian Competition and Consumer Commission (ACCC), found that the supermarket sector remains highly concentrated, with Coles and Woolworths dominating the market and ALDI providing limited price competition. It outlined 20 recommendations to address rising prices, market concentration, and supplier challenges.

On the other hand, the healthcare sector struggled, falling 0.72%. Uncertainty around US policy weighed on market sentiment on Wall Street.

Telix Pharmaceuticals (ASX:TLX) said that the US Food and Drug Administration has approved its New Drug Application for Gozellix, the company's prostate-specific membrane antigen positron emission tomography (PSMA-PET) imaging agent for prostate cancer.

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