1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Renewed conflict between the US and Iran dragged the Australian sharemarket sharply lower on Friday, marking its steepest single day decline in seven weeks. The sell-off erased the week's gains with the S&P/ASX 200 falling 1.51% to finish the week barely changed at 8,744.40 points.
Brent crude climbed as doubts emerged over talks to reopen the Strait of Hormuz.
On the equity market, financials led the losses with all of the big four banks finishing in the red.
Macquarie headlined the sector, posting its second biggest annual profit on record, at $4.85 billion, although the share price dipped XX% amid the broader market weakness. Westpac also shed 4.5% as the stock traded ex-dividend.
Similarly QBE Insurance posted an 11% lift in gross written premium during the first quarter, although shares dropped 1.37%.
Among the winners, News Corp’s third quarter revenue rose 9% to $2.2 billion dollars, bucking the trend to advance 3.6%.
Tonight, markets are watching developments in Iran closely, after President Trump insisted the ceasefire is still holding despite retaliatory strikes on Iranian infrastructure. And eyes will be on the US non-farm jobs report for signals about the Fed's next move.
