Shares flat on split market, NAB update drags finance sector lower

By Simon Frazer

The finance sector was also dragging on the market. NAB shares had fallen 1. 6 per cent after the bank posted a net profit of $1. 7 billion for the three months to June. Westpac had slipped 0. 5 per cent and ANZ 0. 2 per cent, while the Commonwealth had risen 0. 1 per cent. Suncorp had gained 0. 9 per cent and Macquarie Group 0. 4 per cent, but QBE Insurance was down 0. 5 cent.

Private hospital firm Ramsay was up 1. 4 per cent, hearing implants company Cochlear had gained 0. 5 per cent and Ansell had jumped 2. 8 per cent. Telstra had gained 0. 5 per cent, Woolworths was up 0. 7 per cent and Coles’s parent company Wesfarmers had risen 0. 3 per cent.

The All Ordinaries index was up just 3 points at 5,563 at 12:45pm (AEST), while the ASX 200 index had risen 2 points to 5,568. BHP Billiton was up 0. 2 per cent, but Rio Tinto had fallen by the same amount. Newcrest was down 1. 1 per cent after the gold miner announced a full-year net loss of $2. 2 billion.

Read more here: ABC


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