Quay Mid-Day Market Update

Quay Equities

The Australian Share market is deep in the red to start the day, with a weak lead from Wall Street combining with further weakness amongst the financial sector to send stocks lower. Plenty to digest with CBA & Woolworth’s updating the market while we also received Retail Sales data. CBA this morning posting a flat third-quarter cash profit of $2.2 billion which was in line with last year, with its revenue growth similar to the first half. As with ANZ & Westpac its net interest margin was impacted by continued competitive pressures. Home Loan growth was also not as strong as its rivals. An interesting time ahead for the banks in this low interest rate environment, we have already seen Westpac downgraded, so potentially the other banks will suffer a similar fate with the potential that the yield play is dying down with a search for growth to begin. Market Turnover into lunch was very strong at $2.362 billion. For the entire wrap please visit (VIEW LINK)

1 topic

Quay Equities
Quay Equities

Quay Equities is a privately owned investment advisory firm independent of banks and brokers. This enables us to focus solely on our clients’ needs whilst providing conflict-free advice on Australian Shares. The team at Quay specialise in...


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment