The ASX 200 edged lower on Tuesday after a bumper start to the week.
The S&P/ASX 200 Index (INDEXASX: XJO) fell 0.035% lower to close at 6,847.3 points. The broader All Ordinaries Index (INDEXASX: XAO) was down 0.026% at 6,950.50 points.
It was a mixed bag for the ASX 200 sectors on Tuesday. Materials (+0.17%) and A-REITs (+0.17%) led the slim winners, while the Utilities sector (-0.90%) crashed back down after strong gains yesterday.
Here's a recap of the news, announcement and events that you missed on another big day of trade in Aussie equities.
1. Lynas share price crashes after regulatory rejection
The Lynas Corporation Ltd (ASX: LYC) was in the ASX 200 losers on Tuesday after an update on its licence application.
Lynas' bid for an increase in its lanthanide concentrate processing limit for calendar year 2019 (CY 2019) was rejected by the Malaysian regulator.
The Aussie rare earths miner is now targeting approvals for CY 2020. However, Lynas shares crashed 6.20% lower on the news to be amongst the biggest ASX 200 losers on Tuesday.
2. ASIC launches legal proceedings against NAB
National Australia Bank Ltd (ASX: NAB) confirmed ASIC is taking civil legal action against it.
The after-market update is in relation to the "fee for no service" scandal that came out of the 2018 Financial Services Royal Commission.
The NAB share price will be worth watching today following the late update. NAB began switching off fees for all ongoing clients in February 2019 and said it will "carefully assess the allegations".
3. Westpac shares slump after $500 million APRA slap
NAB shares weren't the only ones under pressure yesterday, with Westpac Banking Corp (ASX: WBC) also in a regulator's firing line.
APRA has hit the bank with a $500 million immediate increase in its regulatory capital requirements. This comes in response to the alleged 23 million breaches of anti-money laundering and counter-terrorism financing (AML/CTF) laws.
Westpac shares slumped lower on the ASX 200 on Tuesday to close 0.85% lower at $24.64 per share.
