The ASX200 is down by 50.8 points at close today, Westpac has posted a $6.96 billion full-year profit as bad loans unexpectedly fell and KMD Brands, the parent company of iconic companies Kathmandu and Rip Curl, saw its share price surge by over 11 percent following the announcement of potential takeover discussions with US retail conglomerate Bluestar Alliance.

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