Positive earnings surprises continue to outweigh the negative, with the likes of Flight Centre (ASX:FLT) and Nuix (ASX:NXL) gaining strongly after offering updates to the market. The S&P/ASX200 (ASX:XJO) gained just 1 point, with the financials and technology sectors the key drivers, adding 0.4 per cent respectively. News that unemployment remained fixed at 3.5 per…
Investors and advisers have a tendency to extrapolate recent events into the future, and the last six months have shown how dangerous this can be. For those reviewing and building portfolios as the new financial year begins, five key issues should be front of mind.
Local markets were buoyed by an improving global economic backdrop and the flow through of some positive corporate results. The energy and financial sectors drove the market, adding 1.7 and 1.5 per cent respectively, with the former benefitting from an earnings upgrade from Ampol (ASX:ALD). Management now expect earnings of $800 million in the first…
Mixed messages from bond markets and the Reserve Bank sent both the All Ordinaries (ASX:XAO) and S&P/ASX200 (ASX:XJO) finishing 0.2 per cent lower. The property and industrial sectors sank by 1.6 and 1.2 per cent respectively after the release of the latest round of RBA minutes that suggested further rate hikes were likely despite clear…
Eight of the 11 key sectors of the Australian share market moved higher on Monday, led by industrial and consumer discretionary businesses, with both gaining 0.6 per cent. Despite the strength, weakness in the energy and materials sectors, down 0.8 per cent, pulled the S&P/ASX200 (ASX:XJO) five points lower for a negative start to the…
Falling inflation continued to drive the market higher on Friday with both the All Ordinaries (ASX:XAO) and S&P/ASX200 (ASX:XJO) gaining 0.8 per cent. The market was buoyed by a significant drop in bond yields, which benefited the technology and communication sectors, both adding 1.7 per cent, with Block (ASX:SQ2) gaining 5.2 per cent on the…
The Australian market followed a strong US lead, with both the S&P/ASX200 (ASX:XJO) and All Ordinaries (ASX:XAO) jumping more than 1.6 per cent on Thursday. It was all about the continued march lower of US inflation, which bodes well for the rest of the world, with headline inflation falling to 3 per cent in June….
Both major Australian markets gained 0.4 per cent on Friday, with the All Ordinaries (ASX:XAO) benefitting from a significant jump in the energy sector. Signs of a slowing of Russian oil supplies saw the oil price surge, benefitting the likes of Woodside (ASX:WDS) and Santos (ASX:STO) which gained 2.7 and 1.2 per cent. It was…
Just 12 of the top 200 companies listed on the ASX posted a negative return on Tuesday, with the S&P/ASX200 (ASX:XJO) and All Ordinaries (ASX:XAO) gaining 1.5 per cent. Among the key triggers was news that the Chinese government was set to extend economic support and stimulus measures amid a slowing property market and the…
Only the technology sector was immune from the selloff on Monday, gaining 0.2 per cent, behind a rally in Block (ASX:SQ2) shares. Both the All Ordinaries (ASX:XAO) and S&P/ASX200 (ASX:XJO) fell by 0.5 per cent with the staples and industrial sectors taking the most significant hits, falling 1 and 0.9 per cent. The biggest detractors…
