Australian Investment Blog

• The ASX 200 closed down 32 points (-0.5%) at 5,769 as the corporate earnings season kicked into gear, leading to some major individual companies weighing on the market. • Australia's largest company Commonwealth Bank (CBA) closed 73c lower, or -0.8% at $91.86, after posting positive first half earnings and an upcoming $1.98 dividend, however only slightly higher than consensus leading to the profit takers taking control after the banks recent stellar run.• My switch to Suncorp (SUN) yesterday, ahead of its earnings report this morning, was unfortunately clearly premature. SUN closed 42c lower or -3.1% at $14.00 despite a stronger Net Profit after Tax, after it downgraded its top line growth guidance.
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