MM is neutral CNU

07/04/2022

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Afternoon report 02/07/2026

The Match Out: ASX recovers from early losses as the Banks catch a bid

The ASX finished little changed on Thursday, recovering from a weak open with the index down -0.7% in early trade, as a bounce in the banks offset broad-based weakness across the local bourse.

Morning report 02/07/2026

What Matters Today: Should we chase or fade the 5 big movers from Wednesday?

The ASX 200 followed US futures lower on the first day of FY27, finishing the session down -0.6%, and testing three-week lows in the process. While weakness was broad-based, with over 60% of the main board closing lower, the financials contributed close to 90% of the decline as fears grow that Australia's housing market is deteriorating faster than initially feared, with the trifecta of cost-of-living pressures, three RBA rate hikes in 2026 and the recent changes for property investors in the budget keeping buyers firmly on the sidelines.