Last mentioned: 3d ago
Job Cuts Announced
CBA reveals 300 redundancies across multiple banking divisions.
Workforce Program Launch
The $90 million Future Workforce Program is unveiled to prepare staff for AI integration.
Record Profit Reported
CBA announces a record half-year profit exceeding $5 billion.
Mid-Market Reversal
Heavy buying in the banking sector pushes the index into positive territory.
Initial Volatility
The market opens flat with continued pressure on materials.
Losses Extend
Mid-market trading sees a deepening of losses in the mining and technology sectors.
Market Opening
ASX 200 opens lower following negative sentiment from US markets.
The Australian share market staged a notable mid-market recovery on March 13, reversing deep losses from the previous session. While mining and tech stocks faced pressure from global macro headwinds, a strong rebound in the banking sector provided the necessary momentum to lift the benchmark index.
The Australian share market strengthened during mid-session trading on March 11, 2026, building on early momentum driven by a rebound in commodity prices and robust performance from the 'Big Four' banks. Investors are reacting to positive offshore leads and domestic economic data suggesting resilient consumer spending despite high interest rates.
The Australian share market maintained its early momentum through the mid-session on March 10, 2026, as investors reacted to positive commodity signals and a steady outlook from the Reserve Bank. Strength in the heavyweight materials and financial sectors provided a solid floor for the benchmark index.
The U.S. dollar's dominant rally paused as investors weighed conflicting reports of potential diplomatic breakthroughs in the Middle East against strong domestic economic data. While the euro and sterling found temporary footing, the broader market remains braced for inflationary pressures stemming from energy supply volatility.
Commonwealth Bank of Australia has announced 300 job cuts across retail and institutional divisions, coinciding with a new $90 million initiative to prepare its remaining workforce for AI integration. The move has drawn sharp criticism from the Finance Sector Union, which points to the bank's recent $5 billion half-year profit as evidence that the redundancies are unnecessary.