ASX 200 ends up 0.4pc as banks surge on CBA results. TPG offers lower InvoCare bid
CBA rallies on dividend beat and $1bn buyback amid record profit. InvoCare board backs lower TPG bid. Suncorp falls on 'disappointing' update. Energy providers see strong turnover. Australia likely to avoid hard landing.
Welcome to the Trading Day blog for Wednesday, August 9. The S&P/ASX 200 index ends up 0.4 per cent at a five-day high close. Banks lift as CBA delivers a better than expected dividend and net interest margin, plus a surprise $1bn share buyback.
Chinese AI start-up’s trillion dollar hit of tech’s ‘Magnificent Seven’
The arrival of cut-price Chinese rival to ChatGPT has seen more than a trillion dollars wiped from the value of major tech companies.
ASX ends flat; US tech stocks smashed
Seesaw day on the ASX following heavy falls across US tech stocks. Investors spooked following emergence of low-cost Chinese generative AI model DeepSeek. Goodman, NEXTDC, DigiCo, uranium stocks, Nuix fall hard.