The S&P/ASX 200 Index (ASX: XJO) has spent Monday struggling to pick a direction.

After falling as low as 8,681 points shortly after the open, the benchmark has clawed its way back to 8,731 points in early afternoon trade.

That leaves the ASX 200 basically flat for the day and around 50 points above its morning low.

It’s a pretty mixed session underneath as well, with 99 shares higher, 94 lower, and 7 unchanged.

The index is still down around 3.8% over the past month, despite recovering slightly over the past 3 sessions.

So, what’s moving the market today?

Wall Street offers little help

There wasn’t much of a lead from Wall Street heading into today’s session.

The Dow Jones Industrial Average Index (DJX: .DJI) slipped 0.18% on Friday, while the S&P 500 Index (SP: .INX) gained 0.17% and the Nasdaq Composite Index (NASDAQ: .IXIC) rose 0.40%.

Bond yields remain elevated as well, with the US 10-year Treasury yield pushing back above 5% on Friday.

According to Reuters, investors are still weighing the prospect of further US interest rate hikes, while oil prices remain above US$100 per barrel.

Banks help turn things around

One of the bigger changes since the open has been the performance of the major banks.

ANZ Group Holdings Ltd (ASX: ANZ) shares are up 1.29% to $38.17, while National Australia Bank Ltd (ASX: NAB) has gained 1.17% to $38.92.

Commonwealth Bank of Australia (ASX: CBA) is also 0.56% higher at $153.28, and Westpac Banking Corp (ASX: WBC) has added 0.52% to $34.93.

That has helped offset some weakness among the miners.

BHP Group Ltd (ASX: BHP) shares are down 0.72% to $60.61, while Rio Tinto Ltd (ASX: RIO) has fallen 1% to $165.82.

Fortescue Ltd (ASX: FMG) is also trading lower, down 0.54% to $16.64.

Some big individual moves

There are also some much bigger moves elsewhere on the market today.

Perpetual Ltd (ASX: PPT) shares have dropped around 13.5% to $16.95 after the company rejected EQT‘s revised $22.50-per-share takeover proposal.

The board said the offer undervalued the business and carried unacceptable execution risks.

Meanwhile, Telix Pharmaceuticals Ltd (ASX: TLX) shares are down around 6% to $16.77.

The healthcare company announced a deal to combine with Germany’s ITM, with upfront consideration of US$1.65 billion and another US$700 million potentially payable through milestones.

RBA back in focus

Interest rates are likely to remain a major focus over the next week.

RBA Governor Michele Bullock and Assistant Governor Sarah Hunter are both scheduled to speak tomorrow. Bullock will appear at a CEDA event, while Hunter will take part in a separate interview earlier in the day.

This comes ahead of the central bank’s next monetary policy decision on 29 September.

The post ASX 200 claws back its early losses. What’s moving the market? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• ASX 200 healthcare shares lead a weaker market amid 82% chance of a rate hike
• Here are the top 10 ASX 200 shares today
• ASX 200 slips into the red after a positive start. Here’s why
• Downgrade alert! 5 ASX 200 shares downgraded by experts this week

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended BHP Group and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Sigma Healthcare vs Sonic Healthcare shares: Which healthcare giant is the better buy?

Healthcare is a core slice of almost every Aussie portfolio, but the sector comes in many flavours. If you’re weighing up Sigma Healthcare Ltd (ASX: SIG) and Sonic Healthcare Ltd (ASX: SHL) shares, the decision boils down to more than just “pharma vs pathology.” Both are big names, both have national and global footprints, and each offers a very different blend of income, growth potential, and business risk. Here’s how they stack up.

The case for Sigma Healthcare

Sigma Healthcare is a stalwart of Australian pharmacy. Following its 2025 merger with Chemist Warehouse, Sigma now blends a massive wholesale pharmaceutical distribution network with the country’s biggest pharmacy retail footprint, operating well-known brands such as Chemist Warehouse, Amcal, and Discount Drug Stores. The company also backs up its retail network with services like dose administration aids and technology for pharmacy customers. According to its most recent company profile, Sigma was founded in 1912 and is based in Clayton, Victoria.

The numbers show Sigma as a sizable operation — its market cap clocks in at $28.86 billion, with 11.5 billion shares on issue. Current valuation looks lofty, trading at a price-to-earnings (P/E) ratio of 41.77. Dividends are there, but on the smaller end, with a yield of 1.54% and full 100% franking. Year to date, Sigma’s share price has slipped by 10.5%.

The case for Sonic Healthcare

Sonic Healthcare is a very different beast. Rather than retailing or wholesaling medication, Sonic is a diagnostics empire: the largest private pathology services operator in Australia, the UK, Germany, and Switzerland, plus big positions in the US, New Zealand, and Belgium. Pathology accounts for most of its revenue, but Sonic also boasts a leading role in diagnostic imaging and medical centre ownership in Australia.

Sonic has a market cap of $9.70 billion (much smaller than Sigma) and a P/E ratio of 15.89 — far lower than Sigma’s. For income-seekers, the dividend yield is a noticeable 5.53%, although franking is partial at 60%. It’s also seen a negative year-to-date return of 8.8%.

Valuation comparison

Here’s how the two stack up on key valuation and income metrics:

Metric	Sigma Healthcare	Sonic Healthcare
Market Cap	$28.86 billion	$9.70 billion
P/E Ratio	41.77	15.89
Dividend Yield	1.54% (100% franked)	5.53% (60% franked)
Earnings per Share (EPS)	0.062	1.106
Dividend per Share	0.04	1.08
Year to Date Return	-10.5%	-8.8%

Sigma’s larger market cap reflects its scale and sprawling retail network after merging with Chemist Warehouse. But it is Sonic that stands out on income, with a much higher dividend yield (and larger dividends per share), albeit with less franking. Sonic’s far lower P/E ratio suggests the market expects slower growth or sees less risk in Sigma, but sector differences make a like-for-like comparison tricky.

Recent share price performance

Both companies have faced a challenging run lately. Comparing 18 August – 17 September 2026:

• Sigma Healthcare shares fell from $2.93 to $2.50, including a steep single-day drop of 7.75% on 27 August 2026.
• Sonic Healthcare shares dropped from $23.02 to $19.62, also seeing some sharp daily declines — most notably a 9.25% fall on 20 August 2026.
• Year to date, Sigma is down 10.5%, while Sonic has slipped 8.8%.

So, both stocks have moved lower through 2026, with both hit by periods of strong selling.

Which is the better buy?

This is not a simple snap pick, but if I had to choose, I’d lean toward Sonic Healthcare as the more appealing buy right now.

Here’s why: Sonic’s dividend yield is meaningfully higher at 5.53%, and its payout is larger in absolute dollar terms. While the 60% franking won’t suit everyone seeking maximised after-tax income, it’s still a decent level. Sonic’s P/E ratio of 15.89 is far more attractive than Sigma’s 41.77, suggesting you’re paying much less per dollar of reported profit.

Sigma’s premium valuation might be justified given its dominant retail position after merging with Chemist Warehouse, opening up new earnings streams and scale — but that makes the stock look priced for strong ongoing growth, which isn’t fully backed up by its negative year-to-date returns.

Sonic’s business model is more defensive, with global operations and a central role in diagnostic healthcare. Its lower valuation, higher income, and solid EPS give me more confidence in its risk/reward, even after recent price weakness. Without meaningful trend data beyond this year’s snapshot, I can’t judge longer-term earnings or dividend growth for either company.

So, while Sigma is a genuine heavyweight with exciting exposure to Australian pharmacy retail, my pick for a buy today would be Sonic Healthcare for its income, global footprint, and lower relative valuation.

The post Sigma Healthcare vs Sonic Healthcare: Which ASX healthcare share wins? appeared first on The Motley Fool Australia.

More reading

• Down more than 18% in a month with a 7% yield, are Sonic Healthcare shares too cheap to ignore?
• ASX 200 healthcare shares lead a weaker market amid 82% chance of a rate hike
• 3 ASX shares I’d buy for income and growth in retirement
• How to build a superannuation portfolio generating $50,000 a year
• 9 ASX 200 shares earning strengthened buy ratings this week

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

CSL Ltd (ASX: CSL) shares are climbing again on Monday, with the healthcare giant continuing its strong rebound.

The CSL share price is up 1.29% to $177.85 in early afternoon trade after reaching an intraday high of $178.42.

That puts the stock right back near an area I’ve been watching closely on the chart.

CSL shares have now almost doubled from their 2026 low of $90, so a lot of the recovery has already happened.

And from a technical point of view, I think the next few dollars could be harder to come by.

Why $180 is a big level

The first thing that jumps out to me on the chart is the resistance sitting just below $180.

CSL shares have pushed into this area a few times recently, but so far haven’t been able to break through it.

And momentum is starting to look pretty stretched as well.

The relative strength index (RSI) is currently at 68, which is getting close to the 70 level generally considered overbought.

It doesn’t mean the share price has to fall from here, but I wouldn’t be surprised to see some selling around $180.

I think CSL may need another positive announcement or a decent market rally to properly break through this level.

If it can, the next major resistance level I’m watching on the chart is around $230.

Another risk is coming next week

There’s also another reason I wouldn’t be surprised to see CSL shares struggle around these levels.

The RBA meets again on 29 September, and another interest rate increase is looking increasingly likely.

According to Reuters, markets are now implying a 93% chance that the cash rate will rise from 4.35% to 4.60% at next week’s meeting.

That follows 3 rate hikes already this year, while RBA Governor Michele Bullock said last week that some of the upside risks to inflation were starting to materialise.

If the RBA does lift rates again, I wouldn’t be surprised to see some pressure come back into the ASX.

And with CSL already trading right around resistance, that could make breaking through $180 even harder.

Foolish takeaway

If I were looking at CSL today, I wouldn’t be rushing to chase the shares at $178.

The stock has already done a lot of the heavy lifting, and I’d rather see what happens around $180 before getting too excited.

A clean break above that level would be a much better signal to me than buying right underneath it.

For now, I’ll happily wait and see whether a pullback gives me a better entry point.

The post CSL shares are back near $180. Here’s the level I’m watching appeared first on The Motley Fool Australia.

More reading

• Why brokers think CSL shares could be on track for $200
• Buy, hold, sell: Coles, NAB, CSL shares
• ASX 200 healthcare shares lead a weaker market amid 82% chance of a rate hike
• How much passive income could I make by investing $500 a month in ASX shares?
• Are BHP, CBA, and CSL shares top buys?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.