Live: ASX 200 ends flat after rebound; financials smashed; Silver Lake enters St Barbara fray

The sharemarket has closed flat after recovering, as US futures gains. Most sectors closed in the black, offsetting falls across the financial sector, led by NAB. Westpac joins ANZ and NAB to hike rates after RBA's 11th move.  

Global and local rate rises and earnings and other economic updates are driving equity investor sentiment. Picture: Gaye Gerard.

Welcome to the Trading Day blog for Thursday, May 4. ASX 200 closed flat after rebounding with most sectors in the black, which offset heavy across the financial sector. NAB dropped 6.1 per cent after missing profit expectations. Westpac joined ANZ and NAB to pass on RBA's 11th rate hike. First Star workers exit amid $100m cost-cutting. Healius rejects ACL offer. Magellan sees $2.4bn outflows in April. Super Retail flags 'challenging' outlook. 

The S&P/ASX 200 index closed 4.3 points lower at 7193.3 after falling as much as 0.8 per cent to a five-week low of 7141.8 in early trading.

The recovery comes as US futures have bounced to be up 0.1 per cent, compared to a 0.6 per cent decline earlier. US bank PacWest' shares fell 52 per cent following the US Federal Reserve's 25 basis points rate increase.  On Wall Street overnight, the S&P 500 closed 0.7 per cent lower, the technology-focused Nasdaq Composite index shed 0.5 per cent and the Dow Jones Industrial Average was 0.8 per cent weaker.

The Aussie dollar is trading around US66.92c.