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US inflation news buoys market

Australian shares followed the US market higher on Thursday after the world’s largest economy reported easing inflationary pressures, helping to lower interest rate expectations. The benchmark S&P/ASX 200 gained 78.3 points, or 1.1 per cent, to close at 7,071 points, while the broader S&P/ASX All Ordinaries rose 86.7 points, or 1.2 per cent, to 7325.4 points. Most…

Drew Meredith | 12th Aug 2022 | More
ASX reverses gains as energy falls, tech, communications near highs, Orica sinks

The local market gave up early gains to finish broadly flat on Thursday after a strong week in the market. Four sectors finished in the red, led by energy and materials, down 2.2 and 1.1 per cent respectively. The key driver has been growing concerns about a weakening in demand for oil and gas, a…

Drew Meredith | 5th Aug 2022 | More
  • Market overcomes rate hike to deliver gain, Appen, Credit Corp sink, mortgages fall

    The local market has managed to overcome another 50-basis point rate hike by the Reserve Bank of Australia to post a small gain for the day despite trading lower throughout. The primary beneficiaries were the consumer sectors, with both staples and retailers up 1.2 and 1.4 per cent, while energy and materials fell by 0.9…

    Drew Meredith | 3rd Aug 2022 | More
    Aussie market gains, energy utilities support 7 week high, United Malt sinks

    The positive run continued with the S&P/ASX200 gaining 0.7 per cent on Monday, the first day of August following a strong finish to July. Investors have clearly been buoyed by suggestions that the RBA will need to pare back rate hikes well before the expected 4 per cent level is reached. The result was a…

    Drew Meredith | 2nd Aug 2022 | More
  • Market rally continues as bond yields fall to three-month low, Origin doubles revenue

    The local sharemarket delivered another positive week for investors with the S&P/ASX200 gaining 0.8 per cent on Friday taking the weekly gain to 2.2 per cent. Added to last week’s 2.8 per cent gain and the market is down just 6.7 per cent for the year. Every sector barring healthcare added to the strong result…

    Drew Meredith | 1st Aug 2022 | More
    Local market follows global lead, Atlas Arteria deal dumped, Macquarie’s bumper profit

    It was another strong day for the local market with the S&P/ASX200 gaining 1 per cent on the back of a broad-based rally. Materials and energy remained the standouts, gaining 2.4 and 1.3 per cent, with the utility sector down 1.8 as both AGL Energy (ASX: AGL) and Origin (ASX: ORG) slumped.   Macquarie Group (ASX:…

    Drew Meredith | 29th Jul 2022 | More
    Stocks deliver best week since March, tech surge continues, Magellan boost

    The S&P/ASX200 delivered the best week since March this year gaining 2.8 per cent despite weakening slightly on Friday. The driver has been a turnaround in the outlook for interest rates and signs of a slowing economy, with the tech sector up 7.1 per cent for the five days. On Friday it was all about…

    Drew Meredith | 25th Jul 2022 | More
    Aussie market falls on commodity weakness, Pendal outflows jump, coal miners surge

    The local market finished the week on a negative tone, falling 0.7 per cent and taking the five day loss for the S&P/ASX200 to 1.1 per cent. The biggest driver on Friday was a broad selloff in commodity markets following a weak economic growth result in China, the sector fell 3.2 per cent. Iron ore…

    Drew Meredith | 18th Jul 2022 | More
    Tech rallies despite inflation data, unemployment hits 40 year low, assets fall at Netwealth and AE

    The local market managed another positive finish, gaining 0.4 per cent backed by an unexpected rally in the technology sector. Nine of the 11 sectors gained, with technology 2.1 per cent higher, with only real estate and financials detracting, down 1.1 and 0.8 per cent each. Shares in Netwealth (ASX: NWL) bucked the trend gaining…

    Drew Meredith | 15th Jul 2022 | More
  • Local market gains, energy falls on oil price correction, ANZ to buy MYOB

    It was another positive, but mixed, day for the local market with seven of the 11 sectors finishing higher and contributing to a 0.2 per cent gain. The dispersion between the winners and losers is beginning to narrow after an incredibly volatile period. On the positive side were the consumer and technology sectors, which gained…

    Drew Meredith | 14th Jul 2022 | More
    ASX manages gain, Zip cans Sezzle deal, Eagers upgrade, Lake hit by short seller

    The local market managed to overcome increasingly negative global sentiment ahead of an important US earning season that begins later this week, finishing 0.1 per cent higher. The stalwart blue chips were the standout with financials, consumer staples and healthcare increasing 0.7, 1.2 and 1.1 per cent respectively. The Commonwealth Bank (ASX: CBA) gained 1.2…

    Drew Meredith | 13th Jul 2022 | More
    Local market begins on weaker note, EML loses CEO, Costa flags citrus issues

    The Australian market couldn’t carry over a positive week for the US market, falling throughout the day to finish 1.1 per cent lower. There were very few highlights outside of the healthcare sector, which gained 0.1 per cent, while every other sector finished lower. Materials and technology continue to be hit on the back of…

    Drew Meredith | 12th Jul 2022 | More
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