Market Wrap / strong start, soft finish

A late afternoon recovery saw the local market deliver a second day of gains following a positive lead in from Wall Street. The S&P/ASX 200 closed higher by 0.14% to 8,537 points. 

Early momentum was canceled out by weaknesses in the banks, illustrated by CBA’s 1.2% drop. Bendigo and Adelaide Bank fell 7.4% as it disclosed shortcomings in its anti-money laundering controls.The tech sector fared better, supported by Wall Street gains. However Iress was 5.3% lower as it moderated takeover speculations. Heading the other way, WebTravel Group jumped by 9.3% after posting a record first-half, and saying it is on track for a record FY26.Meanwhile Ramsay Health Care shares also rose after it tipped higher earnings for FY26. And DroneShield surged a welcomed 14.6% after signing a new contract. On the data front, tomorrow’s new monthly inflation print will arrive as markets look for clues before the RBA’s final decision of the year.