Thanks afternoon crew.
End-of-day wrap:
A record result from Commonwealth Bank helped steady investor nerves as the full-year earnings season cranked into gear.
The ASX 200 rallied 27 points or 0.37% after the nation's largest bank reported a profit of $10.2 billion, a 5% improvement on last year. The financial sector put on 1.2% as a 2.58% rise in CBA lifted the rest of the "Big Four".
The banks' steady advance helped the index break out of a short-term sideways trading pattern. A market rebound since mid-July has lost momentum since the turn of the month as Wall Street struggles and investors wait to see how well companies have managed a year-long rise in interest rates and the impact on consumer spending. This month brings full- and half-year results from most of the nation's largest listed companies.
A split market this session saw financials, communications and tech fare best. Speculative stocks, healthcare companies and real estate investment trusts were among the day's worst-performing asset classes.
