ASX hits skids as banks slam into reverse
![Another sharp fall in oil prices leading into Thursday's ASX session weighed heavily on listed energy names.](http://web.archive.org./web/20170615123510/http://www.afr.com/content/dam/images/g/q/w/y/t/9/image.related.afrIndexLead.320x210.gwrqhu.png/1497516285483.jpg)
The ASX's strong two-day rally came to an abrupt end, as weak oil and the US rate hike proved reason enough for shares to retrace some of their recent gains.
The ASX's strong two-day rally came to an abrupt end, as weak oil and the US rate hike proved reason enough for shares to retrace some of their recent gains.
Investment banks have been given a second chance to work with the year's biggest initial public offering contender.
The Fed and the real world are again at odds over inflation.
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A record number of global fund managers believe sharemarkets to be overvalued after years of overstimulative monetary policy.
While it's not dirt cheap at 24 time earnings, it is appealing as robust operating margins drive through to the bottom line.
IT services company ASG Group has bid $124 million to buy rival SMS Management and Technology, trumping an earlier offer from DWS.
One senior trader has attributed the ASX's second day of strong performances to investors cramming funds into superannuation accounts.
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