The S&P/ASX 200 Index (INDEXASX: XJO) fell flat on Monday as the benchmark index edged 0.07% lower.
The ASX 200 finished the day at 7,125.10 points while the broader All Ordinaries Index (INDEXASX: XAO) down 0.08% at 7,221.20 points.
It was a mixed day for the ASX industry sectors with Information Technology (+1.10%) leading the gainers. The Communication Services (-1.08%) and Consumer Discretionary (-0.81%) sectors were the hardest hit yesterday.
Here's a recap of the news, announcement and events that you missed on a disappointing Monday for ASX equities.
National Storage REIT shares surge on takeover offer
The National Storage REIT (ASX: NSR) share price rocketed 6.19% on Monday after receiving another takeover bid.
Shares in the self-storage REIT had already been climbing after confirming talks with China-based GAW Capital Partners for a buyout.
However, the saga took another turn on Friday afternoon when National Storage received a higher bid from US-based Public Storage for $2.40 per share.
That sent the National Storage REIT share price soaring to $2.40 per share on Monday, where I suspect it will remain until we see more clarity on the M&A situation.
WAAAX shares drag the Information Technology sector higher
It was a good day for the WAAAX group of tech shares on Tuesday despite no earnings reports from any of its constituents.
The Altium Limited (ASX: ALU) share price climbed 1.94% higher ahead of its Monday evening results release. Similarly, Afterpay Ltd (ASX: APT) shares jumped 2.36% as it closes in on the $40 per share barrier once again.
There was no clear catalyst for the gains on Tuesday but investors in the ASX tech sector won't be too worried given the strong gains they've seen.
Can the regional banks really compete with the big four?
It was another disappointing result from Bendigo and Adelaide Bank Ltd (ASX: BEN) on Monday.
The ASX 200 bank cut its dividend on Monday and announced a $300 million capital raising in a disappointing day for shareholders.
Bendigo's statutory net profit plummeted 28.2% on last year's numbers to $145.8 million. Cash earnings fell 2% to $215.4 million and the group's shares remain suspended as it embarks on the capital raising.
Commonwealth Bank of Australia Ltd (ASX: CBA) surprised the market with its own results last week and it looks like Bendigo will need a big turnaround in the second half to close the gap.
