US stocks have finished mostly higher as an afternoon rally led by Apple and energy equities overcame early weakness on fears about an economic slowdown in China.
The Australian sharemarket has closed sharply lower after China's currency devaluation helped pull back resources stocks, and the Commonwealth Bank's capital raising weighed on the other big banks.
Bankwest has announced an 11 per cent rise in cash net profit to $752 million for the year to June 30, while its parent company Commonwealth Bank of Australia unveiled a record $9.15 billion cash profit.
US stocks have fallen sharply after China unexpectedly devalued its currency, as Apple, General Motors and other companies heavily exposed to China dropped.
The Australian share market has closed lower, with the banking sector down ahead of the biggest bank's, the Commonwealth, full year results on Wednesday.
US stocks have surged as Berkshire Hathaway announced a $US37.2 billion ($A50.2 billion) acquisition of Precision Castparts and petroleum-linked equities rose on higher oil prices.
National Australia Bank has lifted its quarterly cash profit nine per cent to $1.75 billion after a fall in bad debts offset the impact of tough competition among lenders in Australia.
Bendigo and Adelaide Bank is aiming to keep its investor home loan rates steady in a bid to attract borrowers, despite increases by the big lenders and pressure on its interest margin.
The Australian share market is almost 1.4 per cent lower, dragged down by the banking sector's reaction to ANZ's capital raising and falls on Wall Street.
A major sell-off in media equities following disappointing earnings reports from Viacom and 21st Century Fox have pushed US stocks lower, with the biggest hit taken by the Nasdaq.
The Australian share market has closed lower, largely pulled down by weakness among the major banks after the ANZ bank announced a $3 billion capital raising.
While it’s a close call, chances are the Reserve Bank of Australia will cut rates again before year end reflecting the poor business investment outlook, greater than expected weakness in commodity prices, and the $A remaining too high.
