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Another 0.25 per cent hike, market rallies, the end is near

The local market was spurred on by a smaller than expected cash rate increased by the Reserve Bank of Australia. The 25 basis point increase once again proved that what the market ‘prices in’ isn’t always correct, quite the opposite. As early as this morning the National Australia Bank (ASX:NAB) suggested that there was a real risk of…

Drew Meredith | 2nd Nov 2022 | More
Tech pushes market to gain, rate decision ahead, EML slump deepens

The local market followed a strong overseas lead to post another 1.2 per cent gain on Monday, spurred higher by a rally in the technology and discretionary sectors, which added 2.6 and 2.7 per cent respectively. The strength was broad based with only the energy sector contracting, as smaller and mid-cap companies took centre stage…

Drew Meredith | 1st Nov 2022 | More
Market sinks on commodities, real estate gains, Brainchip tanks

The local market finished the week on a negative tone, falling 0.9 per cent as the country’s largest iron ore miners were hit by further falls in the price of the commodity. The entire sector fell 4 per cent driven loan by a 9.2 per cent fall in Champion Iron (ASX:CIA), an 8.2 per cent drop…

Drew Meredith | 31st Oct 2022 | More
  • Four on the trot for the Aussie market

    The local sharemarket advanced for a fourth straight day on Thursday, with a strong performance by the energy and mining sectors outweighing losses by three of the big four banks. The benchmark S&P/ASX200 index closed up 34.2 points, or 0.5 per cent, to 6845.1, with the broader All Ordinaries rising 37.2 points, also 0.5 per cent, to 7042.3. Driving Thursday’s…

    Drew Meredith | 28th Oct 2022 | More
    Aussie market shrugs off inflation reading

    The local share market managed a small gain on Wednesday despite the latest inflation reading surprising on the upside, raising the possibility that the Reserve Bank of Australia (RBA) could become more aggressive on rate hikes. The benchmark S&P/ASX200 index finished Wednesday up 12.3 points to 6810.9, a gain of 0.2 per cent, while the broader All Ordinaries index climbed 11.4 points,…

    Drew Meredith | 27th Oct 2022 | More
    Local market making baby steps

    The Australian share market crept higher on Tuesday ahead of the second Budget statement of the year, with the benchmark S&P/ASX 200 Index adding 19.2 points, or 0.3 per cent, to 6798.6, while the broader All Ordinaries rose 15.3 points, or 0.2 per cent, to 6993.7. Every sector was up except for energy and mining, in which investors were busy assessing…

    Drew Meredith | 26th Oct 2022 | More
  • Miners push market into the green

    The miners led the local market higher on Monday, with the S&P/ASX 200 Index advancing 1.5 per cent, or 102.6 points, to 6779.4, while the broader All Ordinaries gauge ended up 108.5 points, or 1.6 per cent, to 6978.4. Gold stocks were prominent in the rise, after the yellow metal’s 1.8 per cent gain to $US1,658 an ounce in New…

    Drew Meredith | 25th Oct 2022 | More
    Energy offsets losses, Adairs confirms, coal stocks at record levels

    A sustained rally in the energy sector, which finished 2 per cent higher on Friday, wasn’t enough to reverse broader losses with the S&P/ASX200 ultimately finishing 0.8 per cent lower. The utilities and real estate sectors were the hardest hit, falling 2.3 and 1.8 per cent on growing concerns about the regulatory environment for the…

    Drew Meredith | 24th Oct 2022 | More
  • Banks, Qantas pace market ahead of inflation data, ELMO jumps on private equity interest 

    The local market overcame selling pressure ahead of awaited US inflation data to post a small loss of 0.1 per cent. The financials sector was the standout, gaining 1.4 per cent, with the likes of National Australian Bank (ASX:NAB), up 2 per cent, buoyed by the improving profitability of Bank of Queensland which reported yesterday….

    Drew Meredith | 14th Oct 2022 | More
    Bank of Queensland boosts market, energy declines, GM buys into Queensland Pacific 

    The local sharemarket managed to overcome global weakness, posting a 2.5 point gain behind a significantly rally in the financial sector, up 1.9 per cent. The property sector also added 1 per cent, with energy and utilities falling 1.5 and 2.2 per cent following significant commentary around the future of energy policy in Australia. Shares…

    Drew Meredith | 13th Oct 2022 | More
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