What Matters Today: Revisiting the Insurance stocks after a 10% correction
The ASX 200 recovered stoically from early weakness to finish up +0.4% on Monday, supported by the banks and insurers, while the resources names experienced a rare day in the “naughty corner”. Commonwealth Bank (CBA) surged more than 2% to $172.70, leading the “Big Four” higher and helping the financials sector to its highest-ever close at a combined value of almost $950 billion.