The ASX200 followed global markets higher on Thursday, closing up nearly half a per cent at 7428 points. Despite concerns about central bank tapering and rising inflation, the S&P500, Nasdaq and Dow Jones indices are all trading at or near record highs, while the ASX is flat over five days and remains off its highs of over 7500 points.

The biggest news of the week was Westpac’s (WBC) annual results on Monday, which drew a sharp response from the market. Despite cash earnings up more than 100% on 2020, declining margins and stubbornly high expenses disappointed investors who’d been hoping for a turnaround in the bank’s fortunes. The bank’s share price fell 6% on the day and was an astonishing 98% buy on enormous volumes on nabtrade, more than 4x the next most traded stock. It remained weak on Tuesday and remained a huge buy, at a 95% buy and more than 3x the next most traded; demand subsided but remained well above normal levels through Wednesday and Thursday.

ANZ (ANZ) and Nab (NAB) do not report until next week but were bought on a little weakness across the sector, while Commonwealth Bank (CBA) was a strong sell as it surged above $108. The divergence in performance among the big four banks is something of a test for retail investors, some of whom have been attempting to pick a winner over the last decade. It’s worth noting that all of the big four remain well above last year’s lows when they all featured in the top 10 buys.

Also in financials, Macquarie Group (MQG) rose 1.3% to $201.94, a little off its intraday high of over $202. Its continued strength has led to high value trimming from longstanding holders. New listing Judo Capital (JDO) is a lender to small to medium enterprises (SME) and the first bank to join the ASX in three decades. It enjoyed a small rise upon listing, before closing at $2.25 on Thursday, less than 10% above its listing price of $2.10. Nabtrade investors have been buyers, albeit in relatively small trade sizes. AMP (AMP) jumped 10% on Wednesday on news it would sell the remainder of its insurance business, which resulted in heavy selling from nabtrade holders.

In resources, BHP (BHP) shares have been under pressure this week, as the iron ore price has fallen below $US100 a tonne. An announcement regarding positive developments in BHP’s offer for Canada’s Noront Resources, controlled and part-owned by Fortescue Metals’ (FMG) chair Andrew Forrest boosted its share price on Wednesday. The news was not enough to woo nabtrade investors, who were huge sellers on Thursday; volumes trumped all other stocks, including Westpac. FMG remains a popular trade, bought in smaller sizes and sold in larger, resulting in broadly mixed volumes. Rio Tinto (RIO) was, like BHP, trimmed in large volumes on Thursday. All three stocks are flat or negative over one year.

Tyro Payments (TYR) held its annual general meeting on Wednesday, which was met with frustration by investors, who’ve already worn volatility following the company’s product outages earlier in 2021. The TYR share price fell over 15% on Wednesday, and a further 4% on Thursday; bargain hungry nabtrade investors were buyers. Also bought, but in much smaller volumes, was Domino’s Pizza Enterprises (DMP), which fell over 18% on Thursday, following a weak trading update regarding its franchises in Japan.

On international markets, Tesla’s (TSLA) meteoric rise continues to dominate headlines and portfolios. At over $US1200 a share, investors are torn on its future direction, with an almost perfect split between buy and sell volumes. Semiconductor manufacturer Nvidia (NVDA) has been on a tear this week as the global semiconductor shortage continues to attract attention, and is now trading at over 90x earnings; a small number of nabtrade investors have been buying.