ASX subdued as banks weigh; Fortescue, Newcrest, Afterpay outperform

Summary

• The ASX200 was subdued at Monday's open as the financial sector sagged. The bourse dropped 0.1% after 15 minutes
• US stocks ended the week higher, with both the S&P 500 and NASDAQ recording their best week since July, as optimism grew over the prospect of fiscal aid
• Link Admin Holdings as received a conditional, non-binding $2.8b takeover proposal from a consortium including US-based Carlyle Group and Pacific Equity Partners 
• Orica will cease production at three North American plants, has flagged the closure of more facilities and has forecast $170 million (pre-tax) of significant items in its upcoming full-year results