Market wraps 8th April 2020

Market Update - Jessica Amir

The ASX200 opened 1.9% lower, largely as expected with most sectors in the red, except Staples moving higher. It comes as US equities retreated overnight with oil slipping. We saw Europe stocks advance with the German Dax up 2.8% and London FTSE up 2.2% on hopes European COVID-19 cases have peaked, while the UK prime minster is now stable in ICU.

All eyes on Westpac (ASX:WBC), National Australia Bank (ASX:NAB), Australia & New Zealand Banking group (ASX:ANZ), Commonwealth Bank of Australia (ASX:CBA), Treasury Wine Estates (ASX:TWE) & Austal (ASX:ASB).