Daily Market Update

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…

The local market managed to post a positive start to the week with the S&P/ASX200 gaining 0.3 per cent on the back of a rally in the more cyclical property and retailing sectors. Real estate gained 1.3 per cent and the discretionary sector 0.7 with Star Entertainment (ASX:SGR) a highlight, finishing 4.9 per cent higher….

A positive mood on Friday lifted the benchmark Australian index, the S&P/ASX 200, by 0.5 per cent on Friday, to 7361.6, with gains in mining companies offsetting losses in health and property sectors. The index added 2 per cent over the week, notching its third consecutive week of gains, and ended at its highest closing…

On Thursday the Australian share market had to deal with the release of robust jobs data, which sparked predictions that the Reserve Bank of Australia could again lift interest rates. Employment rose by 53,000 in March, while the unemployment rate remained steady at a 50-year-low of 3.5 per cent, according to Australian Bureau of Statistics…

The Australian market did not appear overly concerned about tonight’s US inflation figure, with the benchmark S&P/ASX200 notching its tenth rise in 11 trading days. The ASX200 closed 34 points, or 0.5 per cent, higher, at a five-week high of 7,343.9, while the broader All Ordinaries index finished 34.7 points higher, also 0.5 per cent,…

Broad gains across the materials sector drove a 2.2 per cent rise in the sub-index on Tuesday, which in turn flowed into an advance in the main Australian indices. The S&P/ASX 200 advanced 90.9 points, or 1.3 per cent, to 7,309.9, while the 500-stock All Ordinaries index gained 92.2 points, or 1.2 per cent, to…

The Australian share market couldn’t continue its run of consecutive daily gains, closing it out at eight, making its longest winning streak since October 2017.  The streak came to an end on Thursday, with the benchmark S&P/ASX200 index losing 22.3 points, or 0.3 per cent, to 7,219, while the broader All Ordinaries index lost 26.8…

The Australian share market managed its eighth straight winning day on Wednesday, but only just; with the S&P/ASX 200 eking out a gain of 1.2 points, to 7123.2. Nor could the broader All Ordinaries index work up any momentum, ending the day 2.8 points higher at 7,434.3. The ASX’s 11 official sectors mostly rose, with…

Australian shares advanced for a seventh consecutive trading day on Tuesday after the Reserve Bank held interest rates steady, as the central bank assesses whether its ten-month hiking program is getting on top of inflation. The RBA left the cash rate at 3.6 per cent, but Governor Philip Lowe warned some further rate rises may…

The Australian stock market moved higher on Monday, ahead of today’s Reserve Bank board meeting, which is widely expected to see a pause in interest rate rises. Market pricing expectations clearly expect the RBA to leave the cash rate on hold at 3.6 per cent, but economists think the decision will be a closer call,…

The local market finished the week strongly, gaining 0.8 per cent on Friday, and 3.2 per cent for the week. Once again, the cyclical financial and materials sectors drove the gains, adding 1.9 and 0.5 per cent with both Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP) adding 2.5 per cent. The former benefited from an…

Australian shares closed stronger on Thursday, boosted by strong gains in the financial and information technology sectors. The optimistic mood was widespread, with ten out of 11 sectoral indices gaining over the day. The benchmark S&P/ASX 200 ended the day up 71.9 points, or 1 per cent, at 7122.3. The All Ords gained 76.40 points,…