ASX 200 falls to two-week low; Cochlear rallies on earnings

ASX led lower by tech and discretionary stocks. Nanosonics falls on profit slump, Cochlear and Costa leap of earnings, Coles profit dips and Tyro sell off continues. 

With the US market closed, traders looked to Europe for direction amid mounting tension in Ukraine. Picture: James Gourley/AAP Image

Welcome to the Trading Day blog for Tuesday, February 22. ASX led lower by tech stocks as escalating scenes in Ukraine unsettle investors. It comes Cochlear jumps on first-half results, while Nanosonics dives 13.1 per cent on profit slump.

 

The S&P/ASX 200 ended down by 1 per cent to 7161.3.

Wall Street was closed for a public holiday, while major benchmark indices in Europe tumbled more than 2 per cent as Russian forces mass on Ukraine’s border and Moscow recognised two separatist republics in Ukraine.

Iron ore traded 4.1 per cent higher overnight to $US139 a tonne as the commodity continues its rebound from last week’s sell-off. The US Nymex crude price climbed 3.2 per cent to $US93.95 a barrel in response to the ongoing tension between Ukraine and Russia.