Market Wrap / golden horizons

A solid performance from the banks, combined with gold reaching yet another record, propelled the S&P/ASX 200 1% higher to 8,990.9 points this Wednesday. CBA held its AGM in Brisbane, with CEO Matt Comyn set to remain at the top job until at least 2029. Mr Comyn also defended the $300 million in new investments to boost productivity and outcomes for staff and customers. Shares rose 1%.Among the rest of the Big Four, Westpac advanced 2%, being now free of the extra half a billion dollars it was required to hold on its books. Elsewhere, the gold stocks took a breather despite the bullion continuing its rise past US$4,100. Evolution Mining slid by 2.9%. And in the small end of town, Nova Minerals soared 81.7% after being contacted by Ambassador Kevin Rudd regarding a critical materials project, and ahead of the Albanese-Trump meeting on Thursday.Tomorrow morning, RBA Governor Michele Bullock will address the Nomura’s Research Forum, with the Labour data also due.