Business
ASX 200 rises, Brickworks builds, Netwealth sinks on Thursday 25 March 2021
The S&P/ASX 200 Index (ASX: XJO) went up by 0.2% today to 6,791 points.
These are some of the highlights from the ASX today:
The Netwealth share price fell around 13% today after announcing a significant change for its business.
Describing the events leading up to the change, Netwealth said that as a result of COVID-19 and current global economic conditions the Reserve Bank of Australia (RBA) has reduced and maintained official interest rates at 10 basis points and provided substantial liquidity to the Australian banking sector at historically low rates and credit spreads.
Due to the current environment, and reduced cost of funding for banks, Netwealth said that the agreement with Australia and New Zealand Banking Group Ltd (ASX:…
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