Indices: Australian ASX 200

The ASX200 managed to ignore overnight wobbles on Wall Street to close marginally higher on Wednesday courtesy of a stellar session for the banks following an extremely bullish interpretation of the Bank of Queensland’s (BOQ) FY22 result – cash earnings were actually ~1% below consensus but the net interest margin was 2.5% above expectations, costs were lower while…

The ASX200 remains well above its recent lows but external influences are slowly but surely dragging the market lower as the news of a painful recession being almost inevitable in 2023 gathers momentum. The number of cogs driving the stock market engine at present is huge from the Ukraine to China, soaring bond yields and inflation to a recession looming…