AU Evening Wrap: ASX 200 Rise 0.4% to Record Close on Bank Gains

Australia's $S&P/ASX 200 (.XJO.AU)$ rose 0.4% to 7763.7, a record close, on strength among shares of the country's largest banks. The ASX 200 is up 0.2% so far this week.

With expectations growing that global central banks will soon start cutting interest rates, $CommBank (CBA.AU)$ rose 0.8% to a record A$119.25 despite analysts surveyed by FactSet rating it a sell. $Westpac Banking Corp (WBC.AU)$, $National Australia Bank Ltd (NAB.AU)$ and $ANZ Group Holdings Ltd (ANZ.AU)$ put on between 0.2% and 1.0%. $Westpac Banking Corp (WBC.AU)$ secured its highest close since November 2019, while NAB secured its highest close since May 2015.

Nine of the ASX 200's 11 sectors closed higher, with only energy and materials losing ground. $BHP Group Ltd (BHP.AU)$ and $Rio Tinto Ltd (RIO.AU)$ both traded ex-dividend and lost 1.1% and 2.4%, respectively.