The ANZ bank is leading Australian stocks down

Chris Hyde/Getty Images

Bank shares led the Australian market down this morning.

A short time ago, the ASX 200 was at 5,213.60, down 53.26 points or 1.01%.

The ANZ, which posted a disappointing full year cash profit on Thursday, lost 4% to $27.025 in early trade.

Westpac was weaker by more than 2% to $31.23. The Commonwealth was at $76.400, down 1%, and the NAB 1.15% to $30.11.

The big miners also dragged on the market with BHP at $22.98, down more than 2%.

Takeover target Asciano was up more than 6% to $8.06 after logistics group Qube paid about $1.7 billion for a blocking stake against Canada’s Brookfield Infrastructure. Qube was down more than 15 to $$2.17.

Macquarie Group was up 0.83% to $84.71 after reporting a stellar first half result and putting it on track for a record full year.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.