Market Wrap / final stretch

In spite of a lower open mirroring losses on Wall Street, the S&P/ ASX 200 managed to close the session fairly flat at 8,308.2 points, up 0.1%. 

A rally in the financial space offset a poor showing amongst the miners and tech players.

WiseTech did not escape the ire of investors as multiple directors stepped down citing “intractable differences in the board”. This came on top of a revenue guidance downgrade; the stock tanked 20.3%. 

In reporting season news, nib cut its dividend but the stock gained 12.1% off the back of a positive guidance update. EVT and Ooh!Media reported well, along with Aussie Broadband. Ampol lost 2.8% as it cut its full year dividend. Lovisa and Reece also disappointed investors.

More generally, the financials supported the ASX with the big banks in the green and CBA lifted by 2.6%. 

The mining space lost ground, with BHP down by about 1%.  

Global investors will now look at EU CPI as Germany is forming a new government.

Tomorrow locally, Woodside is reporting, alongside Domino’s and Zip.