End of Day Report – Monday 2 November: ASX 200 drops 52 - Banks slip - Resources under pressure - WBC Results solid - KMD bid?

The ASX 200 gave up some early strength to close down 52 points at 8,857 (0.6%), with the banks turning negative despite a solid result from WBC, which rose 1%. Elsewhere, CBA, NAB, and ANZ all slid. The Big Bank Basket fell to $283.71 (0.8%). Financials elsewhere were mixed. MQG fell 0.4% ahead of results later this week, AMP was sold down 7.5% on no news, GQG also suffering as tech stocks in the US fell. Insurers also drifted lower, led by QBE down 1.4%. REITs were mixed with GMG down 1.3% ...