ASX 200 ends flat despite lockdown; ME Bank faces charges

ME Bank facing criminal charges. ASX shrugs off Vic lockdown. ASIC sues AMP. CBA strikes energy deal. Capex surges.

Consumer stocks were higher on overseas markets on hopes of continuing economic recovery. Picture: NCA NewsWire / Christian Gilles

Welcome to the Trading Day blog for Thursday, 27 May 2021. The ASX recovered from a brief dips caused by Victoria's announcement of a new 7-day Covid lockdown. Costa Group shares dived on underwhelming guidance. Fisher & Paykel Healthcare after its earnings missed lofty expectations. ASIC has filed criminal charges against ME Bank.

US sharemarkets were steady as comments from US Federal Reserve officials helped reduce concerns about runaway inflation and kept bond yields in check.  The Dow Jones Industrial Average ended essentially flat at 34,323.05. The broad-based S&P 500 edged up 0.2pc to close at 4195.99, while the tech-rich Nasdaq Composite Index advanced 0.6pc at 13,738.

Energy cut its losses from a day earlier after oil prices rebounded following a bigger decline than expected in weekly US inventory. Ford was at a 5-year high.

Amazon has bought MGM Studio for $US8.45bn to bolster its Prime video streaming service.

Australia's 1Q private new capital expenditure surged 6.3% versus 2% expected.