ASX 200 live: Star in urgent cash talks; Bain sweetens Insignia bid; Myer, Premier tank on weak sales

Insignia rises on improved Bain bid. Weak sales updates from Myer, Premier weigh. Energy players gain as Brent hits $US81 per barrel. Low AUD threatens rate cuts. Star rising amid cash crisis talks.

Economic data will underpin local equity investor sentiment this week.Picture: Damian Shaw

Welcome to the Trading Day blog for Monday, January 13. The ASX 200 index is down 1.4 per cent to 8179.10 points at 1pm AEDT as the heavyweight banks stagger and tech and property stocks dive.

Wall Street's major indexes - the S&P 500, technology-focused Nasdaq and the Dow Jones - all closed more than 1.5 per cent lower on Friday after strong jobs data ruled out a January rate cut by the US Federal Reserve.

Cryptocurrency market leader bitcoin is currently just below US$95,000.

The Aussie dollar is trading near US61.56c as its depreciation to a near-five year low poses a fresh inflation risk for the Reserve Bank.

Originally published as ASX 200 live: Star in urgent cash talks; Bain sweetens Insignia bid; Myer, Premier tank on weak sales