The ASX 200 Has Lost All Its Mid-Week Gains

The ASX 200 has closed down 0.75% at 5113.90 today, reverting back to Tuesday’s opening price after hitting a three-month high this week.

The index rose to a high of 5168.2 on Wednesday in anticipation of strong results from CBA, CSL, Westfarmers and ANZ Bank.

But investors weren’t impressed by CBA’s record profit, nor ANZ’s third quarter report. The latter slid 3% today.

The ASX lost 0.85% at today’s open, over Wall St tapering fears, mixed commodity prices and a firm Aussie dollar.

In his weekly update this afternoon, AMP chief economist Shane Oliver noted that Australian economic data was a mixed bag, with business confidence and conditions weak but consumer confidence rising.

He said company results had “not been fantastic but [not] as bad as feared” so far, with 41% exceeding expectations and 33% below expectations.

Via investing.com, here’s what happened this week:

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