Daily Market Update

The S&P/ASX 200, surged by 0.7 per cent with 10 of its 11 sectors showing gains, the index stands merely 1.3 per cent below its peak in August 2021. Meanwhile, the broader All Ordinaries index also closed up by 0.6 per cent. Additionally, the Australian dollar climbed to a five-month high against the US dollar…

The S&P/ASX 200 rose by 0.8 per cent, showing widespread growth across all 11 sectors as hopes for 2024 rate cuts emerged. The index is now just 1.9 per cent shy of its peak. Market enthusiasm persisted despite a more cautious stance on inflation revealed in the Reserve Bank’s December meeting minutes, leading to a…

The S&P/ASX 200 dipped down 0.2 per cent, as eight out of the 11 sectors ended in negative territory. The real estate sector, sensitive to interest rates, faced the most significant setback on the ASX, plummeting by 1.4 per cent. Vicinity Centres, Mirvac, Scentre Group, and Dexus dropped by 2.4 per cent, 2.9 per cent,…

Australia’s sharemarket pushed higher on Wednesday, as the big miners tracked iron ore prices higher. At the close the S&P/ASX 200 was up 23.8 points, or 0.3 per cent, to 7,259.1 points, while the broader All Ordinaries index gained 22.7 points, also 0.3 per cent, to 7,469.1. On the industrial side, the highlight of the…

The Australian market retreated on Thursday, but in a barely noticeable manner; the benchmark S&P/ASX 200 slipped 5.1 points to 7,173, while the broader All Ordinaries index lost 2 points, to 7,384. Financial services house Perpetual jumped $1.59, or 6.7 per cent, to $25.35 after the firm formally rejected a $3 billion buyout proposal from investment…

The Australian sharemarket had its biggest one-day rally in more than a year on Wednesday as traders raised their bets on the Reserve Bank cutting interest rates. Weaker-than-expected GDP for third quarter boosted speculation the central bank could start lowering rates again in 2024. Australia’s economy grew just 0.2 per cent in the September quarter,…

Australian shares slipped back on Tuesday, led by a sell-off in commodity stocks, on a day when – as widely predicted – the Reserve Bank left the cash rate at 4.35 per cent at its final meeting of the year. The S&P/ASX 200 closed 63.1 points, or 0.9 per cent, lower at 7061.6, while the…

A rough finish to the week wasn’t enough to reverse a strong finish to November, with both the All Ordinaries and S&P/ASX200 (ASX:XJO) falling 0.2 per cent on Friday. The energy sector was a rare winner, adding 0.1 per cent, benefitting from a quick reversal of supply cuts agreed at the latest OPEC+ meeting. Both…

The S&P/ASX 200 concluded the day up 0.3 per cent, led by interest rate-sensitive real estate, technology, and consumer discretionary sectors, all closing over 1 per cent higher. This surge came after the Australian Bureau of Statistics reported a drop in annual inflation from 5.6 per cent in September to 4.9 per cent in October….

The Australian share market saw a decline driven by a slump in mining stocks, notably affected by a drop in iron ore value amid concerns about potential intervention by Beijing to stabilise prices. This decline resulted in the benchmark S&P/ASX 200 index dropping by 0.8 per cent, driven primarily by the materials sector’s poor performance,…

The Australian share market finished the week on a positive note, gaining 0.1 per cent, once again on the back of a rally in the energy and utilities sectors, which gained 1.3 and 1.6 per cent. The standout was Origin Energy (ASX:ORG) which added 2.8 per cent as the market continues to digest the likelihood…

On Thursday, the S&P/ASX 200 index fell 0.7 per cent primarily driven by a sell-off in energy companies, with eight of the 11 sectors falling, overshadowing robust labour force statistics revealing the creation of 55,000 jobs within the Australian economy last month. Despite noteworthy data from the Australian Bureau of Statistics indicating job increases, including a revised…