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ASX (ASX:XJO) gains on oil, iron ore rally, Incitec unit gets a bid, RBNZ on hold

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…

Drew Meredith | 13th Jul 2023 | More
All but 12 stocks gain on positive day, ASX (ASX:XAO) up 1.5 per cent, Megaport surges

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…

Drew Meredith | 12th Jul 2023 | More
  • Sharemarket sinks on China data, ASX (ASX:XJO) down 0.5 per cent, commodities sink

    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…

    Drew Meredith | 11th Jul 2023 | More
    Market (ASX:XJO) on US rate concerns, Star sinks, Magellan outflows grow

    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,…

    Drew Meredith | 7th Jul 2023 | More
  • ASX (ASX:XAO) down on banks, AMP hit by class action, China economic data underwhelms

    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…

    Drew Meredith | 6th Jul 2023 | More
    RBA keeps rates on hold (finally), ASX (ASX:XJO) gains, Costa bid confirmed

    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,…

    Drew Meredith | 5th Jul 2023 | More
    Sharemarket (ASX:XJO) bounces to start financial year, Costa under offer, Redox floats

    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…

    Drew Meredith | 4th Jul 2023 | More
    Market mulls strong jobs, retail sales numbers

    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…

    James Dunn | 30th Jun 2023 | More
    Inflation reprieve cheers market

    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…

    James Dunn | 29th Jun 2023 | More
  • Market up ahead of Inflation Day

    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…

    James Dunn | 28th Jun 2023 | More
    Mondayitis for Australian market

    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…

    James Dunn | 27th Jun 2023 | More
    Rates concerns derail Aussie market

    The Australian sharemarket had a poor day on Thursday, in fact its worst loss in more than three months, spooked by Federal Reserve Chairman Jerome Powell telling the US Congress that higher rates might be needed, albeit at a slower pace of rising. The benchmark S&P/ASX 200 index sank 119.4 points, or 1.6 per cent,…

    James Dunn | 23rd Jun 2023 | More
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