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Drew Meredith

Publishing Editor

Drew is publisher of the Inside Network's mastheads and a principal adviser at Wattle Partners.

Drew Meredith results

Industrials, property push ASX lower, RBA hikes again, Woolworths guides to higher sales

The local market fell sharply on the back of an unexpected 0.25 per cent interest rate increase by the Reserve Bank of Australia. The news took the cash rate to 3.85 per cent, adding more pressure to household balance sheets and came despite most experts suggesting hikes had come to an end. The hardest hit…

Drew Meredith | 3rd May 2023 | More
ASX boosted by the energy sector, Origin upgrades outlook, Best & Less gets a bid

The local sharemarket finished 0.4 per cent higher on Monday, buoyed by the energy and utilities sectors, which gained 1.3 and 1 per cent, despite the oil price continuing to fall. The sector was buoyed by an earnings upgrade from Origin Energy (ASX:ORG) which sent shares 0.5 per cent higher with AGL Energy (ASX:AGL) also…

Drew Meredith | 2nd May 2023 | More
ASX falls three points on RBA reset, materials sink, retailers outperform

The local sharemarket managed to keep losses to just 3 points on Thursday despite a significant selloff in the materials sector, which fell 2 per cent. This was driven by weakening commodity prices and the likes of BHP (ASX:BHP) and Mineral Resources (ASX:MIN) falling 5.5 and 2.6 per cent respectively. The cyclical financial and retail…

Drew Meredith | 21st Apr 2023 | More
ASX falls on RBA minutes, lithium price slides, property market hit

The Australian sharemarket reversed course on Tuesday, falling 0.3 per cent after the Reserve Bank released the minutes from its latest board meeting. According to the summary, there is a strong case for further rate rises, which triggered weakness in property related sectors led by Domain Group (ASX:DHG) which fell by 2.6 per cent. Across…

Drew Meredith | 19th Apr 2023 | More
ASX powers ahead, materials sector jumps on iron ore, EML Payments surges

The local market finished the week strongly, gaining 0.8 per cent on Friday, and 3.2 per cent for the week. Once again, the cyclical financial and materials sectors drove the gains, adding 1.9 and 0.5 per cent with both Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP) adding 2.5 per cent. The former benefited from an…

Drew Meredith | 3rd Apr 2023 | More
  • ASX rallies on weaker inflation data, oil rallies on supply curbs, Fortescue jumps

    The local market opened weaker on Wednesday, hit by worsening sentiment offshore, but ultimately finished 0.2 per cent higher. The rally was led by the materials and energy sector which both gained 1.2 per cent, buoyed by news that a disagreement between Iraq and Kurdish officials had led to a reduction in supply. The healthcare…

    Drew Meredith | 30th Mar 2023 | More
    ASX gains 1 per cent, takeover bid sends lithium sector higher

    The local market continues to overcome weakening global economic sentiment, with the S&P/ASX200 powering to another 1 per cent gain on Tuesday. The market was buoyed by the mining and energy sectors, which gained 4.1 and 2.2 per cent respectively on the back of a suite of takeover offers. The highest profile of which was…

    Drew Meredith | 29th Mar 2023 | More
    ASX finishes lower on bank weakness, Block under attack, Estia gets a bid

    The local bourse finished 0.2 per cent lower taking the weekly loss to 0.6 per cent with the financial sector the biggest detractor, finishing 1.1 per cent lower. Poor sentiment around the outlook for banks contributed to a 1.2 per cent drop in Commonwealth Bank (ASX:CBA), while the materials and utilities sectors outperformed, gaining 0.6…

    Drew Meredith | 27th Mar 2023 | More
    ASX sinks at the close, seven sectors lower, Soul Patts record profit

    Global sentiment continues to drive daily market movements in Australia, with the S&P/ASX200 falling 0.7 per cent on Thursday. Just two of the markets nine sectors finished higher, that being communications and consumer staples, up 0.1 per cent each, with the materials and technology sector the hardest hit by recessionary concerns, falling 1.1 and 0.8…

    Drew Meredith | 24th Mar 2023 | More
    ASX gains ahead of US Fed decision, gold miners sink on outlook, Woodside’s record day

    It was another positive day for the local market with the S&P/ASX200 adding 0.9 per cent on growing optimism that the spiralling global banking crisis will cause a slowdown in the pace of rate hikes. The Federal Reserve is set to meet overnight, with bond yields remaining well below levels of just two weeks ago…

    Drew Meredith | 23rd Mar 2023 | More
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