The S&P/ASX 200 Index (INDEXASX: XJO) edged 0.06% higher Wednesday to close at 6,851.40 points in a rebound of sorts.
It wasn't just the ASX 200 climbing higher yesterday, as the All Ordinaries Index (INDEXASX: XAO) gained 0.094% to finish at 6,957.00 points.
It was another mixed bag in terms of the sectors, with Utilities (+0.95%) and Health Care (+0.87%) leading the way. ASX 200 A-REITs (-0.41%) and Financials (-0.29%) finished in the red on Wednesday,
Here's a recap of the news, announcement and events that you missed on another big day of trade for Aussie equities.
1. NAB facing potential $10 billion fine
National Australia Bank Ltd (ASX: NAB) is facing a maximum theoretical penalty of $10 billion after ASIC launched civil proceedings against the bank.
The bank's share price plummeted lower on the news, before finishing down 0.67% on the ASX 200 on Tuesday.
ASIC is taking civil legal action against NAB in the Federal Court concerning alleged breaches in its NAB Financial Planning business.
NAB responded by saying it has "already acknowledged failures where customers have paid fees for services they didn't receive."
2. Northern Star share price jumps after Super Pit acquisition
The Northern Star Resources Ltd (ASX: NST) share price jumped 3.32% higher on Wednesday as the ASX 200 gold miner returned to trading.
The Aussie miner announced a US$800 million (A$1,168 million) acquisition of the Super Pit gold mine in Kalgoorlie on Tuesday.
Northern Star will be a joint venture partner with fellow ASX gold miner Saracen Mineral Holdings Ltd (ASX: SAR).
The ASX 200 group also completed an A$765 million institutional placement to fund the acquisition.
3. Westpac shares slump 0.57% lower after class action
The Westpac Banking Corp (ASX: WBC) share price slumped lower after shareholders hit the bank with a new class action.
Westpac was the second worst-performing ASX 200 bank after NAB on Tuesday. Shareholders filed a class action on behalf of some shareholders who acquired shares in the bank between 16 December 2013 and 19 November 2019.
This comes as AUSTRAC takes action against Westpac for alleged breaching anti-money laundering and counter-terrorism laws 23 million times.
