NAB’s announcement of a drop in profit to $7.1 billion could be a sign for the rest of the banking industry.

MARKET WRAP:

• ASX200: up 0.33%, 8,226
• GOLD: $2,669 US/oz
• BITCOIN: $113,299 AUD

• Energy was the best-performing sector, up 2.3%, with Real Estate the worst, down 2.1%.
• Sigma Healthcare saw its share price spike after that ACCC green light, closing up almost 25% to $2.43.
• Neuren gained 8.5% to $14.40 after predicting full year income of $216 million.
• NAB’s full-year cash profits of $7.1 billion was only good enough to see shares lift 0.2% to $39.33.
• Health insurer NIB’s shares gained 1.9% as it held its AGM.
• Jumping by more than 1% were Yancoal, Treasury Wines and South 32.
• The gold price tumbled in the wake of the US election, down more than 3% and hurting local miners with Spartan Resources down over 17%, Westgold down 8.4% and Bellevue Gold down 7.7%
• While buy-now, pay-later provider Zip dropped 1% despite cash earnings in the first quarter up by 234%.

CURRENCY UPDATE:

• AUD/USD: 66.27 US cents
• AUD/GBP: 51.3 pence
• AUD/EUR: 61 Euro cents
• AUD/JPY: 102 Japanese yen
• AUD/NZD: 1.10 NZ dollars