ASX drops as investors savage Brambles, WorleyParsons
Summary
Monadelphous Group, the highest-gaining stock last week, added a further 2.6 per cent after announcing a proposed services contract with Oil Search. Outside the top 200 names, shares in business services company CSG Limited were smashed after its disappointing earnings results - its trading at a its lowest levels since March 2013, down 33 per cent to 46c. Oil has maintained its position above $US50 a barrel since OPEC and 11 other oil-producing nations pledged to cut output in a bid to stabilise prices. China stopped all imports of coal from North Korea from Sunday, the countrys commerce ministry said in a notice posted on its website on Saturday. The pallets and container group, which surprised the market with a profit downgrade on Jan. 23, said CEO-designate Graham Chipchase would take over from outgoing boss Tom Gorman today, a week earlier than expected.