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ASX 200 falls for week as CBA ups chance of recession, banks pass on RBA hike

Bourse slips for a third week as CBA warns of a 50/50 recession chance. ANZ, Macquarie, NAB and CBA pass on RBA rate hike. Suncorp rebuffs ACCC concerns.

David Rogers, Valerina Changarathil, Hayden Johnson and Matt Bell

Global equity gains may help ASX to close the week on a buoyant note ahead of the King’s Birthday public holiday on Monday. Picture: David Swift

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6:05AMJune 09, 2023.

Updated 5:21PMJune 09, 2023

The Australian Business Network

Welcome to the Trading Day blog for Friday, June 9. The Australian sharemarket snapped a three-day losing streak on the back of strong gains by tech tech and mining stocks.

The S&P/ASX 200 index added 22.80 points, or 0.3 per cent to close at 7122.50. For the week the index fell 0.3 per cent for a third consecutive week

The dollar was buying US67.10c at the close.