Business
Westpac flags $282m profit hit but makes a gain on Zip and Coinbase; ASX opens flat – ABC News
Westpac’s first half profit will take a hit, but it could have been worse if not for its buy-now, pay-later and cryptocurrency investments. The share market struggles…
The Australian share market has edged slightly higher, after struggling for direction in early trade, as gains for banks offset falls for consumer and tech stocks.
By 10:35am AEST, the ASX 200 was up by just 2 points to 7,063.
The Australian dollar was slightly higher, buying around 77.5 US cents.
The major banks were on the rise, including shares in Westpac (+0.7pc).
That is despite Westpac flagging a $282 million hit to its first half profit, as it sets more cash aside for customer remediation.
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