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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,…
The local share market ended its seven-day winning streak on Wednesday, with investors and traders wary ahead of Federal Reserve chairman Jerome Powell’s testimony to the US Congress later that night. The benchmark S&P/ASX 200 index eased 42.9 points, or 0.6 per cent, to 7,314.9, while the broader All Ordinaries walked back 42.9 points, also…
The Australian sharemarket sailed to a two-month high on Tuesday, after the minutes from the Reserve Bank of Australia’s June meeting showed that the bank’s policymakers were less hawkish than the market had expected. Only healthcare of the 11 sectoral sub-indices went backwards, and that by only 0.02 per cent. The gains ranged as high…
The Australian sharemarket lifted to its highest level in seven weeks on Monday, boosted by decent gains in nine out of the 11 sectors. The benchmark ASX/S&P 200 rose 43.7 points, or 0.6 per cent, or to 7294.9, while the broader All Ordinaries index advanced 38 points, or 0.5 per cent, to 7,489.2. Healthcare was…
The local sharemarket delivered a fifth straight day of gains on Friday, finishing 1.1 per cent higher on the back of a strong rally in the energy sector. The sector finished 3.5 per cent higher, buoyed by the likes of Woodside (ASX:WDS) and Santos (ASX:STO), which finished 3.5 and 4.1 per cent higher. But all…
The Australian share market rose for a fourth straight day, buoyed by Chinese stimulus measures in China, even as a booming domestic jobs report raised expectations for rate hikes, pushing the Australian dollar to its highest point since February. The benchmark S&P/ASX200 index gained 13.6 points, or 0.2 per cent, to 7,175.30, while the broader…
The Australian sharemarket closed in the green on Wednesday as gains among the miners were balanced by a slide for healthcare – and index – heavyweight CSL, after its profit guidance for financial-year 2024 disappointed the market. The benchmark S&P/ASX 200 index finished the day up 22.8 points, or 0.3 per cent, to 7161.7 points,…
The Australian share market struggled to a small gain on Tuesday, reflecting an upbeat session overnight on Wall Street. The benchmark S&P/ASX 200 closed 16.4 points, or 0.2 per cent, higher to 7138.9, while the broader All Ordinaries index also edged up 16.8 points, or 0.2 per cent, to 7329.1. Among the banking majors, Commonwealth…
The Australian sharemarket slid for a third straight day on Thursday after the Bank of Canada followed the Reserve Bank of Australia by lifting interest rates to beat high inflation, heightening concerns that the US Federal Reserve will lean hawkish, too. The benchmark S&P/ASX 200 softened 18.3 points, or 0.3 per cent, to 7099.7, while…
The local share market has finished slightly lower as investors mulled weak economic data and the implications of higher rates for longer, following a perceived shift in stance from Australia’s central bank. Before markets opened, Reserve Bank of Australia (RBA) governor Philip Lowe told a Morgan Stanley business summit that “some further tightening of monetary…
The Australian sharemarket fell after the Reserve Bank surprised markets with another interest rate hike, lifting the cash rate to 4.1 per cent. The S&P/ASX200 Index fell 86.7 points, or 1.2 per cent, to 7,129.6, while the broader All Ordinaries dropped 81.3 points, or 1.1 per cent, to 7,319.9. Ten of the ASX’s 11 official…
The local market delivered a strong end to the week with the S&P/ASX200 (ASX:XJO) gaining 0.5 and the All Ordinaries (ASX:XAO) 0.6 per cent on the back of a strong rally in the commodity sector. Champion Iron (ASX:CIA) and BHP (ASX:BHP) were standouts, adding 5.6 and 2.8 per cent each as investors grew more confident…
