Address

Precise Investors

Latest News

Shock state levy spoils bank recovery on ASX

A new round of selling in the big four banks after the South Australian government unveiled its own state-based version of the federal bank levy kept the market suppressed on Friday, holding back the market’s recovery after a heavy mid-week sell-off.

The benchmark S&P/ASX200 index ended Friday’s session up 15 points, gaining 0.2 per cent to 5715.9. But two days of positive trading weren’t enough to overcome Wednesday’s large 1.6 per cent drop, as well as Tuesday’s smaller one, with the index ending the week down 1.0 per cent. The broader All Ordinaries index ended the week down 0.9 per cent.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Leave a Reply

13 + 16 =