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ASX fights back, COVID winners back as lockdowns extended, oil at three-year high The ASX 200 (ASX: XJO) overcame a negative lead to finished broadly flat on Monday. COVID-19 outbreaks in almost every state barring Victoria have sent the market back into the realm of 2020’s top trades. On the one hand, travel and tourism-facing stocks suffered,…
Another winning day despite Sydney lockdown, Boral offer increased, US infrastructure boosts commodities The ASX 200 (ASX: XJO) delivered another strong day, finishing 0.5% as it followed a strong US lead. This time it was news of President Biden receiving approval for his infrastructure package, which pushed the materials sector 1% higher. Every sector barring consumer staples (-0.8%) and…
ASX falls as Afterpay spikes, Woolworths’ spin-off, retailers rally The ASX 200 (ASX: XJO) fell 0.3%, the second straight day of losses, with consumer staples (+1.9%) and IT (+2.1%) the only real winners. The majority of the selling pressure came from healthcare and energy, falling 1.8% and 1.2% respectively, with continued weakness in CSL Limited (ASX: CSL) dragging the…
Markets continue to fall, travel stocks hit as Sydney faces lockdown, Costa enters trading halt The ASX 200 (ASX: XJO) finished 0.6% lower on Wednesday despite a strong overseas lead, with news of the extended Sydney travel restrictions impacting travel and consumer stocks. Qantas Airways Limited (ASX: QAN) fell 0.3%, Flight Centre Travel Group Ltd (ASX: FLT) by 3.4%, and Corporate Travel…
Strongest day in four months, Fed backs off, lithium miners rally The ASX 200 (ASX: XJO) experienced its best session in four months, adding 1.5% on Tuesday, all but erasing Monday’s losses. Every sector but healthcare finished higher, with real estate and energy the biggest beneficiaries adding 2.2% respectively. The positive sentiment came from Fed Chair Jerome Powell’s written…
ASX dragged down by US sell off, CBA sells general insurance arm, Boral out of the US The ASX 200 (ASX: XJO) followed global markets lower to begin the week, falling 1.8% after being as much as 2% lower during the session. Among the most significant detractors was the Commonwealth Bank of Australia (ASX: CBA), with Australia’s largest company…
Fifth straight weekly gain, tech back in favour, commodities tank, AUD weakens The ASX 200 (ASX: XJO) finished 0.1% higher on Friday as markets continued to digest this week’s change of heart from the Federal Reserve. The IT sector overcame valuation concerns to jump 3.5% higher on Friday and 6.1% over the week. Leading the market was Afterpay (ASX: APT)…
Rough day as rate hike hits, Challenger, Seven, Coles offer market updates The ASX 200 (ASX: XJO) finished down 0.4% on Thursday in what some are calling a sell-off after news that the Federal Reserve may hike interest rates earlier than expected, in 2023. Markets took this with a grain of salt, not selling off heavily, ending more focused…
ASX records continue despite mining sell off, energy stronger, lithium deals continue The ASX 200 (ASX: XJO) finished at another record, adding 0.1% on Wednesday despite weakening throughout the day. Most sectors finished higher, led by the energy sector, up 1.5%, with the materials and IT down 1.6% and 0.4%, respectively. It was bad news for those…
ASX, Comm Bank, and Mineral Resources close at records, Austal sold off The ASX 200 (ASX: XJO) continues to hit new records, moving 0.9% higher on Tuesday, with pent-up Queen’s Birthday demand behind the surge. Every sector in the market moved higher but it was healthcare behind CSL Limited (ASX: CSL), up 1.7%, and IT behind Afterpay Ltd (ASX: APT) up…
ASX finishes at fresh record, shrugs off inflation threat, tech, gold rally The ASX 200 (ASX: XJO) finished +0.1% on Friday, taking the market 0.2% higher for the week and ultimately finishing at another all-time high. On Friday, it was the gold miners responding to the expected inflation data in the US. Resolute Mining Limited (ASX: RSG) and Newcrest Mining Ltd (ASX:…
ASX moves higher, as every sector but energy improves, Woolworths’ takeover to go ahead The ASX 200 (ASX: XJO) capped off another positive day on Thursday despite a fall in the oil price sending the entire sector down 1.1%. Every other sector was higher, barring materials, which finished flat, with real estate and IT once again leading…
