SYDNEY, AAP – Strong third-quarter earnings for the Commonwealth Bank could not help the Australian share market overcome a dour influence from the US.
Australia’s biggest bank said cash profit from continuing operations rose to $2.4 billion in the third quarter of this financial year.
The market heavyweight was the only one of the big four banks to close higher and rose 1.05 per cent to $95.57.
The benchmark S&P/ASX200 index closed lower by 52.1 points, or 0.73 per cent, to 7044.9.
The All Ordinaries closed down 50.5 points, or 0.69 per cent, to 7281.1 points.
The Australian dollar was buying 78.08 US cents at 1620 AEST, lower from 78.32 US cents at Tuesday’s close.