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ASX:GNC News 2 February 2026

Australia stock market sinks as ASX 200 hit by gold rout — what to watch before the RBA call

Australia stock market sinks as ASX 200 hit by gold rout — what to watch before the RBA call

Sydney, February 2, 2026, 21:50 AEDT — Market closed Australian stocks fell Monday, with the S&P/ASX 200 dropping 1.02%, or 90.5 points, to finish at 8,778.6. The Aussie dollar also dipped 0.56%, landing at $0.6924. (Market Index) The benchmark’s decline was its sharpest in two months, closing at its lowest point since Jan. 12. The slide came as gold prices…
2 February 2026
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Stock Market Today

  • Eastern Bankshares (EBC) Appears Undervalued Despite Strong Multi-Year Gains
    February 2, 2026, 9:08 AM EST. Eastern Bankshares (EBC) shows robust multi-year share price performance, rising 42.3% over 5 years and 16.8% in the past year. Yet, its stock price closed at just $20.49, appearing undervalued by about 57% based on an Excess Returns model, which compares its return on equity (11.74%) against investor-required returns. The model estimates an intrinsic value near $47.37 per share, suggesting a significant disconnect with market pricing. Eastern Bankshares scores only 2 out of 6 on valuation checks, highlighting caution despite strong returns. Investors may look at traditional metrics like price-to-earnings (P/E) and price-to-book ratios alongside detailed cash flow analyses to assess its true value amid regional banking sector dynamics.
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