The local ASX200 index closes down 0.7% thanks to a rotation out of financials and misses from the likes of TLS... - a podcast by ausbiz

After the S&P500 nudging record highs last night and positivity in Asian markets today, the local ASX200 index closed down 0.7% thanks largely to a rotation out of financials.

The banks were hosed - CBA down 2.6%, ANZ down 1.6%, NAB down 1.5% and WBC down 1.3%. A few misses on the reporting season front also dragged the market down, particularly Telstra following a 14% drop in FY20 net profit to $1.8 billion. Big day tomorrow - AIA, BBN and NCM reporting full year, China's 'data dump' and Phil Lowe testifying before the House of Reps economics committee. Our top three VODs today are:

CQR CEO: We're focused on convenience, rent relief and the retail pivot

Plenty of blue sky for Centuria Capital

Reporting season: AMP, TWE, TLS in focus

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