1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The S&P/ASX erased earlier gains to finish the session 0.19% lower at 8,818.80 points. Higher commodity prices overnight were not enough to compensate for weakness seen in index leader CBA.
The largest stock on the market touched a 4-week low on 1Q margins softness and higher costs. CBA shares closed lower by 6%.
The bank will release its household spending insights tomorrow; but today, the Westpac-Melbourne Institute consumer sentiment index showed a 12.8% surge, with economists expecting Christmas spending to be less restrained than last year.
It was a positive for the likes of Light & Wonder which surged 11% during the session. This might also have to do with competitor Jumbo Interactive flagging a lower dividend payout ratio and shedding 3%.
Elsewhere, Life360 was 4.9% lower on its expansion into advertising. The location-sharing app is set to acquire US-based Nativo for around US$120 million.
And with the US shutdown seemingly nearing a temporary end, investors will be on the lookout for potential data released overnight.
