ASX 200 closed tad higher, supported by property, materials; PwC hires outsider for review; Elders tanks; InvoCare lifts
The sharemarket closed slightly higher, supported by property and materials as financial stocks fell. InvoCare soared after TPG Capital's revised $1.9bn bid. Elders dived after its profit warning.
Welcome to the Trading Day blog for Monday, May 15. ASX 200 closed slightly higher with most sectors in the black, led by property and materials. PointsBet could sell Australian business. Silver Lake cancels meetings as St Barbara locks in Genesis deal. $20bn power grid re-build challenges. InvoCare keen on TPG's $2.2bn offer. Elders' half-year profit sinks.
The local sharemarket finished 0.1 per cent higher at 7267.1 points as gains in property and materials offset falls across the financial sector.
RBA’s May minutes are due on Tuesday, wage price data on Wednesday and jobless numbers will be released on Thursday.
Wall Street stocks retreated on Friday night after talks between US President Joe Biden and Republican congressional leaders was postponed to early this week. The Dow Jones Industrial Average dipped less than 0.1 per cent, the S&P 500 shed 0.2 per cent and the tech-rich Nasdaq Composite Index declined 0.4 per cent.
The Aussie dollar is trading around US66.52c.
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ASX finishes strongly, led by banks
The sharemarket closed 1.7 per cent higher, with gains across the board, led by the heavyweight financial sector. News Corp found strong support after its mega $3.4bn Foxtel deal.