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Proactive Investors Australia

S&P/ASX 200 ends lower as bank, energy stocks weigh

ResMed was the biggest gainer on the index, soaring 9.9% to $16.26.

ASX boards
Macquarie Group slipped 5.4% to $128.81

S&P/ASX 200 (INDEXASX:XJO) slipped 2 points to 6,335 with losses in the financial, energy and materials sectors outweighing gains in retail, telco and industrials stocks.

Oil price falls

The energy sector was the biggest loser, dropping 1.3% following a fall in global oil prices on oversupply concerns.

Woodside Petroleum (ASX:WPL) slipped 0.9% to $34.93, while Santos (ASX:STO) dropped 2.3% to $6.96.

Macquarie net profit hits record $1.98 billion

Macquarie Group (ASX:MQG) was also a laggard, sinking 5.4% to $128.81 after warning of a more subdued performance next year.

The investment bank beat its own guidance today, posting a 17% rise in full year net profit to a record $1.98 billion.

However, managing director and CEO Shemara Wikramanayake said its FY20 result was expected to be slightly down.

ResMed was the biggest gainer

ResMed (ASX:RMD) was the biggest gainer on the ASX 200 index, soaring 9.9% to $16.26.

The sleep apnoea company reported a 12% rise in March quarter revenue to US$662.2 million, while quarterly profit increased 15% on the previous corresponding period to US$157 million.

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