Daily Market Update

The S&P/ASX 200 finished lower on Monday down 0.5%, mirroring the subdued sentiment across Asia due to China’s central bank delivering a rate cut that fell short of investor expectations. The S&P/ASX 200’s weakest performers on Monday were information technology and consumer staples. Iress experienced the most significant fall, down 35.6 percent, after the company suspended its interim dividend…

The S&P/ASX 200 eked out a mere 2.1 points increase on Friday, which helped reduce its weekly decline to 2.6%. This marks the most significant weekly drop in the Australian stock market since September 2022. The mining sector bore the brunt of the markets downturn, plummeting 4.3% throughout the week due to a series of weak economic…

The S&P/ASX 200 Index plummeted -1.5 percent on Wednesday, reaching its lowest point in a month as all 11 sectors fell off the back of stronger US retail spending, and weak Chinese data. Stronger-than-expected retail spending from the US heightened concerns that the Federal Reserve may need to sustain higher interest rates to control inflation. US retail…

The local share market has finished higher, helped by gains from healthcare companies CSL and Cochlear as they delivered upbeat profit results.   Also, the Australian Bureau of Statistics (ABS) reported that Australian wages rose 0.8 per cent in the June quarter, and 3.6 per cent year-on-year, which was slightly below consensus forecasts.  The benchmark S&P/ASX200…

The Australian share market’s major indices dropped on Monday and the Australian dollar slipped to a nine-month low, after a Chinese developer’s potential collapse raised fresh concerns about China’s economy. Property giant Country Gardens was on the brink of default after missing payments on two bonds last week, and that spells worries for the country’s…

Winners were few and far between on the share market (ASX:XJO on Friday, with the benchmark finishing 0.2 per cent lower, with only the retail and healthcare sectors posting positive returns, up 0.8 and 0.3 per cent. Casino owner Star Entertainment (ASX:SGR) was the standout, with shares finishing 18 per cent higher after the company…

The Australian share market rose in a muted fashion on Thursday, assisted by the energy sector as a potential strike by Western Australian gas workers helped to cause a spike in European gas prices.  The benchmark S&P/ASX200 index finished 19.4 points, or 0.3 per cent, higher at 7,357.4, while the broader All Ordinaries index was up…

A post-result bounce in Commonwealth Bank helped lift the Australian share market on Wednesday, despite renewed worries about a softening Chinese economy, after the Middle Kingdom slipped into deflation.  Chinese data showed consumer prices fell 0.3 per cent in July from a year ago, the first decline since February 2021. Producer prices also retreated for…

The Australian sharemarket eked out a tiny gain in terms of the benchmark S&P/ASX 200 Index on Tuesday, with the gauge lifting 1.9 points to 7,311.1, while the broader All Ordinaries index went the other way, albeit by an even smaller quantum, down 0.2 points at 7,519.7.  National Australia Bank’s monthly survey showed that Australian…

The local share market slipped on Monday ahead of US inflation numbers on Thursday, and as Australia’s first full week of earnings season kicked off.  The benchmark S&P/ASX200 index retreated 16.1 points, or 0.2 per cent, to 7,309.2, while the broader All Ordinaries dropped 16 points, also 0.2 per cent, at 7,519.9.  Earnings season begins…

The local market (ASX:XJO) managed a 0.2 per cent gain on Friday, overcoming significant weakness in the healthcare sector, which fell 1.2 per cent. Broader strength in the energy and technology sectors, up 1.1 and 1.3 per cent, were enough to overcome the weakness, with Karoon (ASX:KAR) gaining 4.2 per cent on higher energy prices….

The S&P/ASX 200 fell by -1.3%, and the All Ordinaries declined by -1.2% as markets consolidated gains and absorbed news across borders of US treasury downgrades by Fitch. Interestingly all 11 sectors finished in the red (whilst the day earlier all sectors finished in the green) with the largest detractors being utilities, financials, and real estate. In line with…