Daily Market Update

The Australian market followed a strong US lead, with both the S&P/ASX200 (ASX:XJO) and All Ordinaries (ASX:XAO) jumping more than 1.6 per cent on Thursday. It was all about the continued march lower of US inflation, which bodes well for the rest of the world, with headline inflation falling to 3 per cent in June….

Both major Australian markets gained 0.4 per cent on Friday, with the All Ordinaries (ASX:XAO) benefitting from a significant jump in the energy sector. Signs of a slowing of Russian oil supplies saw the oil price surge, benefitting the likes of Woodside (ASX:WDS) and Santos (ASX:STO) which gained 2.7 and 1.2 per cent. It was…

Just 12 of the top 200 companies listed on the ASX posted a negative return on Tuesday, with the S&P/ASX200 (ASX:XJO) and All Ordinaries (ASX:XAO) gaining 1.5 per cent. Among the key triggers was news that the Chinese government was set to extend economic support and stimulus measures amid a slowing property market and the…

Only the technology sector was immune from the selloff on Monday, gaining 0.2 per cent, behind a rally in Block (ASX:SQ2) shares. Both the All Ordinaries (ASX:XAO) and S&P/ASX200 (ASX:XJO) fell by 0.5 per cent with the staples and industrial sectors taking the most significant hits, falling 1 and 0.9 per cent. The biggest detractors…

The local share market was dragged lower by concerns of further rate hikes in the US, with both the All Ordinaries (ASX:XAO) and S&P/ASX200 (ASX:XJO) falling by 1.2 per cent with just the technology sector finishing higher, gaining 0.1 per cent. The materials and retail sectors were the biggest laggards both falling 1.9 per cent,…

The Australian sharemarket broke its FY24 winning streak on Wednesday, with the All Ordinaries (ASX:XAO) dropping 0.3 and the S&P/ASX200 (ASX:XJO) down 0.4 per cent as the healthcare and financial sectors dragged the market lower. Embattled wealth manager AMP (ASX:AMP) was the biggest detractor, with shares falling 6.1 per cent after the Federal Court ruled…

News that the Reserve Bank of Australia had decided to pause the most aggressive period of rate hikes in recent memory saw both the All Ordinaries (ASX:XAO) and S&P/ASX200 (ASX:XJO) surge to a 0.5 per cent gain on Tuesday. This strong start to the new financial year was powered by the financials and property sectors,…

The local market started the week and financial year on a positive note, with both the S&P/ASX200 and All Ordinaries (ASX:XAO) gaining 0.6 per cent on Monday. The technology sector was the only detractor with the likes of Wisetech (ASX:WST) and Technology One (ASX:TNE) dropped 2.9 and 2.2 per cent on the back of a…

The major Australian induces were becalmed on Thursday as stronger-than-expected retail sales and jobs data suggested the Reserve Bank might need to lift interest rates again next week, in an attempt to slow a still-strong economy. Data from the Australian Bureau of Statistics showed that Australia’s jobs market remains resilient despite the Reserve Bank’s historic…

A softer than expected headline inflation figure sparked a rally in the Australian sharemarket on Wednesday, as the Australian Bureau of Statistics (ABS) reported that consumer prices rose 5.6 per cent for the year to end of May, down from 6.8 per cent in April, meaning the consumer price index (CPI) actually fell 0.4 per…

The Australian share market bounced back from four straight days of losses on Tuesday, as investors prepare for a crucial inflation figure. The benchmark S&P/ASX200 index finished up 39.5 points, or 0.6 per cent, to 7,084.2, while the broader All Ordinaries rose 35.9 points, or 0.5per cent, to 7,300. The market is awaiting today’s consumer…

Shares posted their fourth straight days of losses on Monday, as investors were unnerved by a failed military uprising in Russia over the weekend, which had all sorts of worrying geo-political, macro-economic and energy-market implications. The S&P/ASX 200 lost 20.5 points, or 0.3 per cent, to 7078.7 points, for its lowest close in nearly three…