The local market (ASX:XJO) managed a strong gain on Thursday, finishing 0.5 per cent higher, on news that the unemployment rate had jumped to 3.7 per cent from 3.5 per cent. This is the first evidence of a slowing economy under the weight of surging interest rates and saw the technology sector boosted by 2.9…
The local sharemarket took a breath ahead of another important US inflation print on Tuesday night with the S&P/ASX200 (ASX:XJO) falling 0.2 per cent on little news. 9 of the eleven sectors finished lower lead by the property sector, which fell 1.4 per cent amid growing concerns about commercial property valuations, Charter Hall (ASX:CHC) was…
The local market managed a strong finish to the week, gaining 0.4 per cent on Friday, as ANZ Bank (ASX:ANZ) delivered a better than expected earnings result. However, it was the property sector that outperformed gaining 2 per cent behind rallies in Dexus (ASX:DXS) and Goodman Group (ASX:GMG) which both gained more than 3 per…
The financial sector was the biggest detractor on Thursday, falling 2.5 per cent on the back of a weaker than expected profit result from the National Australia Bank (ASX:NAB). Despite the weakness, the S&P/ASX200 managed to fall just 0.1 per cent, with almost every other sector finishing higher, led by property which gained 2 per…
The sentiment has once again turned negative in Australia as a series of mixed messages are shared with the market. The S&P/ASX200 finished 0.9 per cent lower on Wednesday, dragged down by the energy sector, which fell 2.1 per cent on the back of a near 5 per cent fall in oil prices overnight. Among…
The local market fell sharply on the back of an unexpected 0.25 per cent interest rate increase by the Reserve Bank of Australia. The news took the cash rate to 3.85 per cent, adding more pressure to household balance sheets and came despite most experts suggesting hikes had come to an end. The hardest hit…
The local market fell sharply on the back of an unexpected 0.25 per cent interest rate increase by the Reserve Bank of Australia. The news took the cash rate to 3.85 per cent, adding more pressure to household balance sheets and came despite most experts suggesting hikes had come to an end. The hardest hit…
The local sharemarket finished 0.4 per cent higher on Monday, buoyed by the energy and utilities sectors, which gained 1.3 and 1 per cent, despite the oil price continuing to fall. The sector was buoyed by an earnings upgrade from Origin Energy (ASX:ORG) which sent shares 0.5 per cent higher with AGL Energy (ASX:AGL) also…
The local sharemarket managed to keep losses to just 3 points on Thursday despite a significant selloff in the materials sector, which fell 2 per cent. This was driven by weakening commodity prices and the likes of BHP (ASX:BHP) and Mineral Resources (ASX:MIN) falling 5.5 and 2.6 per cent respectively. The cyclical financial and retail…
The Australian sharemarket reversed course on Tuesday, falling 0.3 per cent after the Reserve Bank released the minutes from its latest board meeting. According to the summary, there is a strong case for further rate rises, which triggered weakness in property related sectors led by Domain Group (ASX:DHG) which fell by 2.6 per cent. Across…
