UBS Group (UBS US)

01/11/2024

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Afternoon report 05/05/2026

The Match Out: RBA hikes again but the ASX takes it on the chin

The ASX slipped again today, though the move felt relatively contained given the significance of the RBA decision. The central bank delivered a third straight hike, taking the cash rate to 4.35%, but the market largely took it in stride, rising ~35pts after the decision into the close.

Morning report 05/05/2026

What Matters Today: A Fresh Takeover Wave Hits the ASX — Who’s Next?

The ASX 200 retreated 0.4% ahead of this afternoons RBA rate decision, extending what has become one of the most sustained losing streaks of the year, nine declines in ten sessions, with the banks again at the centre of the weakness. National Australia Bank Limited (ASX: NAB) was the standout drag; its soft quarterly result sent the stock down 1.6% and took approximately six points from the index.