The Aussie market was sluggish despite a strong session in overseas markets overnight, where S&P 500 and Nasdaq posted gains of around 2% and UK FTSE hit a two-year high.

The ASX 200 closed just 0.31% higher, with Tech the standout rising by over 2.5%.

Afterpay’s parent Block Inc (ASX:SQ2) was the main contributor in Tech, after jumping 10% on the back of a similar move of its US parent overnight. No particular news was announced by the company.

Other sectors were mainly in the red, with Mining and Financials down 0.5%.

Investors are nervously watching fresh inflation data due later today in the US. The data is expected to give the market additional clues as to how quickly and how much the Fed may raise rates this year.

Meanwhile, long-serving ASX Ltd (ASX:ASX) CEO Dominic Stevens announced his intention to retire from the market operator this year.

“He will leave ASX in a strong financial and operational position, and with the transformation of critical systems, platforms and infrastructure complete or nearing completion,” said ASX chairman Damian Roche, who will take over as interim CEO.


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National Australia Bank (ASX:NAB) beat market expectations after delivering quarterly cash earnings of $1.8 billion. The bank says the robust figure was driven by higher house prices and the improving asset quality of home and business loans, but CEO Ross McEwan warned that challenges still remain.

Embattled financial manager AMP (ASX:AMP) jumped 3% after it announced new enquiries from buyers for its AMP Capital business. AMP had earlier today declared a full year loss of $252m in FY21, from a profit of $177m in FY20.

After plunging 7% yesterday, Autobarn’s parent company BapCor (ASX:BAP) rebounded 10% today. Yesterday, Bapcor reported a sluggish EBITDA of $137.2m for the first half, a fall of 6% from last year’s corresponding half.

Megaport (ASX:MP1) is still rallying on the momentum of yesterday’s profit release, which saw the company posting a 70% year on year increase in profits to $30.9 million.


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Cimic Group (ASX:CIM) lost 7% after net profit slid 25% to $402 million in calendar 2021.

ASX Ltd slumped 5% following the resignation of its CEO.