Market Wrap / bouncing back

The S&P/ ASX 200 rebounded after yesterday’s sell-off, which was the worst since April. The index rose 1% to close at 8826.50 points. The banks followed global bonds and made some gains today, with CBA up 2.1%. However, another market heavy-weight recedeed, with BHP trading ex-dividend and ending the session 0.7% higher. Some profit-taking was also seen in the gold space. Meanwhile, Brent futures slipped lower overnight after reports that OPEC+ could raise oil output in October. The energy sector was up 0.1%. 

Austal shares rose 4.3% as the shipbuilder said the US Coast Guard’s move to exercise options worth $480 million was an “important sign of intent” on the ongoing Offshore Patrol Cutters program.In other company news, Iress's new CEO was welcomed by investors, with the stock rising 7% on the news Andrew Russell will take the top job in November.KMD Brands gained 2.3% on its transformation strategy including cost cuts. And Domino’s Pizza advanced by 1.4% after its chairman bought $5m worth of shares.Tonight, the US trade balance is due, while Coles and Aussie Broadband are among companies trading without rights to their dividends tomorrow.