S&P/ASX 200s weak start gets worse after Victoria, NSW daily COVID-19 update

S&P/ASX 200 (INDEXASX:XJO) is 0.66% in the red at lunch, dragged down by losses from banks, travel stocks, energy and retail names.

Gains for gold miners, BHP Group Ltd (ASX:BHP) (+1.20), Rio Tinto Limited (ASX:RIO) (+1.04%), healthcare and tech stocks helped minimise the loss.

COVID-19 update

The Victorian premier this morning said the state had detected another 275 COVID-19 cases over the past day, while NSW has 20 new cases.

US deaths from the novel coronavirus exceeded 140,000 on Saturday as cases continued to rise in 43 out of 50 states over the last two weeks.

However, the market is likely to respond positively this week to signs of a COVID-19 vaccine getting closer.

AstraZeneca (LON:AZN) and Oxford University are expected to provide an update on their vaccine work in the next 24 hours. AstraZeneca has said it could deliver doses of a vaccine in the UK as early as September if results are promising.

Top gainers

Todays top gainers on the ASX include Brookside Energy Ltd (ASX:BRK) (+20.00%), Corazon Mining Ltd (ASX:CZN) (+100.00%), Argonaut Resources NL (ASX:ARE) (+14.29%), Rimfire Pacific Mining N L (ASX:RIM) (+16.67%) and K2FLY Ltd (ASX:K2F) (13.04%).

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