Magellan Financial Group (MFG)

31/03/2021

Magellan Financial Group (MFG)

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Afternoon report 09/09/2026

The Match Out: ASX flat as BHP and energy offset bank and tech weakness; Austal jumps on Wildcat counterbid

The ASX went on a round trip today, rising early, giving it all back and trading lower through to midday before popping in the afternoon, closing almost flat for the session. The headline index masked another fairly weak session underneath, with the banks and Healthcare under pressure while Energy and Materials did most of the heavy lifting with the Big Australian and Rio keeping the index afloat accounting for +30pts of gain between the two heavyweights.

Morning report 09/09/2026

Portfolio Positioning: The “reverse wealth effect” is weighing on the ASX

September is living up to its seasonally weak reputation, with the ASX 200 falling another 1% on Tuesday to close at a fresh six-week low. Local stocks endured their worst session in three months as selling swept across the market, as more than 65% of the main board closed lower, with the banks doing the most damage, accounting for roughly half of the index’s decline.