No way M&A 🙅

Early risk-off trading gave way to optimism after news of “non-invasion talks” between the Russian and US Presidents hit the wires. The market was down nearly 50 points at one stage, so it was an impressive close higher at 7,234 +0.16%. Reporting season was responsible for most outsized share price moves again today. Tyro was smashed by nearly 27% on a big miss and no clear path to profitability. Super Retail profits slumped almost 40%, pushing the share price down 9%. Nuix failed to impress sceptics with hefty legal fees weighing on its balance sheet, but at -4% it looked like the better of a bad bunch. Solid results and guidance drove Endeavour, Chorus and A2 Milk all 10-11% higher. Elsewhere, AGL hit its highest levels in since July last year to close at $7.91, after rejecting a $7.50 per share bid from a Brookfield-led consortium. This story has a ways to go. 

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