Daily Market Update

The local market opened weaker on Wednesday, hit by worsening sentiment offshore, but ultimately finished 0.2 per cent higher. The rally was led by the materials and energy sector which both gained 1.2 per cent, buoyed by news that a disagreement between Iraq and Kurdish officials had led to a reduction in supply. The healthcare…

The local market continues to overcome weakening global economic sentiment, with the S&P/ASX200 powering to another 1 per cent gain on Tuesday. The market was buoyed by the mining and energy sectors, which gained 4.1 and 2.2 per cent respectively on the back of a suite of takeover offers. The highest profile of which was…

Energy shares sank on Monday, with Woodside among the worst hit, after the lower house passed an emission reduction plan in a deal with the Greens. Energy’s woes dampened the market, but the benchmark S&P/ASX 200 index managed to add 6.8 points, or 0.1 per cent, to 6962, while the broader All Ordinaries advanced 6.2 points,…

The local bourse finished 0.2 per cent lower taking the weekly loss to 0.6 per cent with the financial sector the biggest detractor, finishing 1.1 per cent lower. Poor sentiment around the outlook for banks contributed to a 1.2 per cent drop in Commonwealth Bank (ASX:CBA), while the materials and utilities sectors outperformed, gaining 0.6…

Global sentiment continues to drive daily market movements in Australia, with the S&P/ASX200 falling 0.7 per cent on Thursday. Just two of the markets nine sectors finished higher, that being communications and consumer staples, up 0.1 per cent each, with the materials and technology sector the hardest hit by recessionary concerns, falling 1.1 and 0.8…

It was another positive day for the local market with the S&P/ASX200 adding 0.9 per cent on growing optimism that the spiralling global banking crisis will cause a slowdown in the pace of rate hikes. The Federal Reserve is set to meet overnight, with bond yields remaining well below levels of just two weeks ago…

Sharemarkets continue to navigate the escalating global banking crisis, with the S&P/ASX200 managing to deliver a 0.8 per cent gain on the back of a 1.2 per cent surge in the financial sector. The rally was led by the likes of Macquarie (ASX:MQG), up 3.3 per cent, as recent transactions highlighted the continued support for…

The cauterising of the Credit Suisse wound over the weekend, as emergency talks in Europe ended with UBS buying its embattled rival in a $4.5 billion acquisition – half the value Credit Suisse had at the end of last week – calmed markets to some degree on Monday, but the benchmark S&P/ASX200 index still finished…

The local market powered into the close, overcoming early losses to finish 0.4 per cent higher. The energy and financial sectors were central to the positive move, adding 2.3 and 0.9 per cent respectively. All four major banks gained, led by the National Australia Bank (ASX:NAB) which was 1.7 per cent higher on the day….

Another day, another recapitalisation of bailout of a major bank. It was all about global giant Credit Suisse (SWX:CSGN), the company that had been in the news in recent weeks due to a run of poor quarters and growing outflows from the bank. The Swiss National Bank was forced to offer as much as $81…

Positive sentiment continues to return to the local market, with the S&P/ASX200 gaining 0.9 per cent on Wednesday. While the technology sector was the biggest gainer, finishing up 2.4 per cent, a broad-based improvement in the financial and banking sector was central to the rally. Australia’s regional banks, despite having significantly more capital requirements than…

The local market has now given back most of the gains achieved in 2023, falling 1.4 per cent on Tuesday as concerns of further bank runs spread around the world. The threat was triggered by the bankruptcy and subsequent bailout of Silicon Valley Bank after it’s many accountholders sought to withdraw a significant amount of…