Daily Market Update

The local sharemarket finished the week on a positive note, with the S&P/ASX200 gaining 0.2 per cent as more than half of listed companies gained. The standouts were property, utilities and the retail sector all of which finished 1.1 per cent higher. Among the biggest contributors though, was the Commonwealth Bank (ASX: CBA) which gained 1.1 per…

Performance across the key sectors of the S&P/ASX200 continues to diverge with a weak day for energy, down 1.8 per cent, offset by gains in the technology and real estate sectors, which both added 1.2 per cent. Vicinity Centres (ASX:VCX) was a highlight, adding 4.1 per cent following the departure of its CEO, while Whitehaven…

The local market continues to gather steam ahead of a number of major economic announcements, with the S&P/ASX200 finishing 0.7 per cent higher. The rally was driven by a surge in the energy and utilities sectors both up 1.6 and 1.3 per cent as coal and oil prices rallied on another production cut. Whitehaven Coal…

The local market reached a five month high on Tuesday, buoyed by the energy and materials sectors once again, which finished 2.6 and 1.2 per cent in the positive, the S&P/ASX200 gained 0.6 per cent. The standouts remain in energy, or coal at least, with Whitehaven (ASX:WHC) and New Hope (ASX:NHC) up more than 7…

The S&P/ASX200 commenced the week in the same manner it finishes, falling 0.2 per cent after holding onto a gain of as much as 0.3 per cent during the day. Both the technology and materials sectors were behind the weaker finish, falling 1.5 per cent respectively as the investors await more global economic data. Shares in insurer QBE…

All eyes were on the materials sector on Friday, after BHP (ASX: BHP) lobbed a best and final bid for copper producer OZ Minerals (ASX: OZL). The offer of $28.25 per share was approved by the board and will now proceed to due diligence. Despite the size of the offer, the market barely moved with the S&P/ASX200 gaining 0.2 per but…

The S&P/ASX200 managed another small gain on Thursday, adding 0.2 per cent as strength in all sectors barring energy and materials, down 2.1 and 1.2 per cent each, managed to offset losses in the coal mining companies. The biggest detractors were New Hope (ASX: NHC) and Whitehaven Coal (ASX: WHC) which lost more than 6 per cent each as coal prices…

The S&P/ASX200 fell 0.3 per cent on Wednesday, with 8 of the eleven sectors finishing the red led by utilities, down 1.5 and retailers, down 1.3 per per cent. The highlight once again was the energy and materials sectors, which gained 1.2 and 0.7 per cent. Shares in Oz Minerals (ASX: OZL) entered a trading halt on rumours that…

The local market fell 0.1 per cent on Tuesday under the pressure of a weaker energy sector, down 0.9 per cent, after OPEC+ cut their expectations for oil demand in 2023 and beyond; shares in Beach Energy (ASX: BPT) fell 2.8 per cent. It was a similar story for the lithium sector, with broader commodities falling 1 per cent…

The local market finished slightly lower, down 0.2 per cent, as a jump in commodities, particularly iron ore, offset losses across every other sector. The materials sector gained 3.4 per cent along with energy, after the oil price moved about US$90 per barrel once again. Iron ore was the highlight with Champion (ASX:CIA) gaining 12 per cent, Fortescue (ASX:FMG)…

The local market rode the US inflation data wave, gaining 2.8 per cent on Friday, buoyed by the hope that interest rate hikes may be set to ease. Every sector finished higher outside of utilities, as Origin Energy (ASX:ORG) reversed 3.2 per cent as investors digest the recent takeover offer; the company was still up…

The local market weakened as crypto turbulence spread into global equity markets, with the S&P/ASX200 falling 0.5 per cent. Half of the markets sectors were lower, led by energy and technology, down 2.1 and 1.9 per cent respectively. The standout was utilities, which gained 13 per cent on the back of a massive takeover bid…