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 local market couldn’t shake off a weak global lead, opening the first week of June with a 0.5 per cent fall. It was a market full of lowlights, with the industrials, technology and materials sectors all falling by more than 1 per cent, dragged down by previously popular growth names including Tyro (ASX:TYR) and Hub24 (ASX:HUB) which fell…
The local market finished the week on another positive note, despite the return of concerns about the aggressiveness of central banks around the world, with the S&P/ASX 200 posting a 0.9 per cent gain on Friday. It was propelled by the materials sector, with copper and iron ore miners benefitting from the loosening of lockdowns but more…
The local market continued on a negative trend to open the month of June with the S&P/ASX 200 falling 0.8 per cent on the back of a broad-based selloff. The biggest detractor was the healthcare and technology sectors, falling 1.8 and 2.5 per cent respectively as US Federal Reserve members continue to predict aggressive rate hikes. Cochlear (ASX:COH) and CSL (ASX:CSL)…
The local market managed to eke out a positive return on Wednesday, gaining 0.3 per cent on the first trading day of June. Another rally in the iron ore price, which supported the likes of Fortescue (ASX:FMG) and BHP (ASX:BHP), the latter up 2.3 per cent, wasn’t enough to dig the materials sector out of the hole, as it…
The domestic market managed to reverse the prior day’s gains, falling 1 per cent on Tuesday after US bond yields jumped on further central bank commentary. This coincided with agreement on further bans on Russian oil imports which sent the oil price above US$120 per barrel. Every sector was lower, led by technology and financials,…
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…
Appen left at the altar A bizarre blink-and-you-missed takeover approach came and seemingly went for one of the local market’s tech leaders Appen, which develops the datasets for machine learning and artificial intelligence. Canadian company Telus International sprang a $9.50 a share bid on the company, which said it would talk to Telus to try to…
Aussie market creeps higher Despite a steady diet of news of war, global slowdowns, China lockdowns, inflation and higher rates, the Australian share market managed to rise on Wednesday, as measured by the benchmark indices. The S&P/ASX200 index added 26.4 points, or 0.4 per cent, to finish at 7,155.2, while the broader S&P/ASX All Ordinaries index…
