ASX Live Updates: Key Insights and Market Movements

Date: May 5

Welcome to our live coverage of the ASX for the day. We are trialling this new format, so please refresh the page for ongoing updates and share your feedback on how we can enhance your experience.

Westpac’s Mixed 1H25 Financial Results

Time: 8:55 am
Westpac announced a mixed result for its first half of financial year 2025. The key figures from their report are as follows:

• Net Profit After Tax (Ex-Items): Fell by 1% to $3.5 billion, aligning with market predictions.
• CET1 Ratio: Remained steady at 12.2%, which was also in line with expectations.
• Earnings Per Share: Unchanged year-on-year at 101 cents, surpassing the consensus estimate of 98 cents (a 3% beat).
• Interim Dividend: Set at 76 cents per share, below the anticipated 82 cents (a 7.3% miss).
• Group Net Interest Margin (NIM): Decreased by 1 basis point to 1.88%, compared to the expected 1.94% (a 6 basis-point miss).

Overall, the outcome is perceived as slightly negative due to disappointing dividend and net interest margin figures. These elements are critical indicators for banks and may counterbalance Westpac’s robust balance sheet and solid credit impairment metrics.

Stocks on the Rise: Driving Factors

Time: 8:40 am
The S&P 500 index achieved its ninth consecutive gain, propelled by several key factors:

• De-escalation of Trade Tensions: The US and China are showing signs of easing trade conflicts, with discussions relating to US auto tariffs and positive engagements between the US and Japan.
• Stable Consumer Spending: Companies such as Amazon, Visa and Mastercard reported strong earnings, indicating healthy consumer spending.
• Robust US Jobs Report: Non-farm payrolls increased by 177,000 month-on-month, outperforming the 130,000 consensus estimate. The unemployment rate remained stable at 4.2%, meeting market expectations.

Market Outlook

Time: 8:30 am
The market shows continued positivity, with S&P/ASX 200 futures indicating a potential gain of 32 points (+0.38%) at market opening, following a strong performance on Wall Street.

If this is your first time following our updates, be sure to look over today’s Morning Wrap for a quick overview of the latest developments.