Australian biotech market watch 01/07/09

On the opening day of the new financial year the All Ordinaries has taken a 74 point dive to 3,874, as of 3.30pm this afternoon, lead by drops in mining, financial and property stocks. This brings the overall market to around its close on Monday evening after a buoyant day Tuesday.

The health indicies have followed the All Ords, dropping a modest 1.3% in the day's trading.

Cochlear (ASX:COH) took a 2% slide to $56.56, as did Healthscope (ASX:HSP), falling to $4.31 and CSL (ASX:CSL), which lost 33c to $31.82.

Ramsay Health Care (ASX:RHC) shed 39c to $11.17, continuing its gradual slide over the past week after its peak on June 24.

ResMed (ASX:RMD) is also down around 3.5%, although it closed on a six week high at the close of the markets on Tuesday.

Nanosonics (ASX:NAN) bucked the trend today, jumping over 8% after it issued new shares and offered options to some of its staff yesterday.

A good day was also had by Biota Holdings (ASX:BTA), which is up 6.3% to $1.27 after it slid down to close at $1.19 yesterday.

Ansell (ASX:ANN) saw a lift of 1.7% in afternoon's trading after a dip around 1pm.