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The positive sentiment couldn’t be maintained on Wednesday with weakness in the technology and financial sectors sending a 0.5 per cent gain to a 0.2 per cent loss. Energy and utilities remain in focus, gaining 1.5 and 2.1 per cent with NZ energy provider Mercury (ASX: MCY) and fuel refiner Ampol (ASX: ALD) gaining 4…

The local market open on an unexpectedly positive tone but ultimately finished 0.6 per cent lower as commodity and energy prices fell across the board. The selloff in energy and materials finished at 5.1 and 4.6 per cent respectively, amid growing concerns about the outlook for the global economy. Uranium miner Paladin (ASX: PDN) was…

The local market capped its worst week since March 2020 falling 1.8 per cent on Friday and dragging the S&P/ASX200 down 6.6 per cent for the week. This followed a 4.2 per cent drop in the prior week which now has the index nearing a bear market. Comments from the RBA Governor this week heightened…

Australian shares were as much as 1.1 per cent higher during Thursday’s session following the Federal Reserve decision to hike interest rates by 0.75 per cent, but ultimately finished 0.1 per cent lower. The major detractors were the consumer staples and utilities sectors, falling 1 and 1.6 per cent with the latter hit by the…

Anyone keeping up with the news overnight is aware of the headlines. $88 billion lost in a single day, market crumbles, stocks tank; there will be no lack of hyperbole following the worst day for the S&P/ASX200 since March 2020. The market fell by close to 5 per cent during the session, following a rough…

The local market was pushed lower by the global turnaround in interest rates with the S&P/ASX200 falling 1.3 per cent to finish the week. Every sector was lower, led by property, which fell 2.9 per cent on concerns that higher interest rates will hit valuations, while another six sectors dropped more than 1 per cent,…

Yellow glow on ASX Resources came to the rescue on the Australian share market on Wednesday, with surging uranium and oil and gas stocks more than compensating for a shocker from the banks. A call from Goldman Sachs that Brent crude would average US$140 a barrel between July and September, up 17 per cent from its prevailing…

The Australian sharemarket was on hold ahead of the RBA’s latest board meeting and interest rate decision. A somewhat unexpected 0.50 per cent increase in the cash rate to 0.85 per cent saw the S&P/ASX200 slump by 1.5 per cent. The large move was predicted by only a few experts with the RBA highlighted the fact that inflation had…

The weakest monthly inflation print in close to two years offered the best possible backdrop for the local market on Monday, with the S&P/ASX200 gaining 1.5 per cent. Technology was the standout, up 4.6 per cent, with only a small handful of companies falling on a buoyant day for the market, led by AGL Energy…

The local market delivered a strong finish to the week, gaining 1.1 per cent on the back of a strong global lead. The primary driver was a weakening of the rhetoric from Chair Powell in relation to the course of rate hikes in the coming months. Energy and discretionary retailers were the standouts, gaining more…