ASX finishes flat, earnings season gathers steam, Magellan, AMP surprise The S&P/ASX200 (ASX: XJO) traded flat throughout the day, ultimately gaining just 1.7 points as strength in the real estate sector (up 1.6%) offset more weakness in energy and consumer staples, both of which were down over 1%. Whilst the US successfully navigates another earnings season the Australian market…
Rally continues, tech, financials deliver, Kogan Inventory cools, The S&P/ASX200 (ASX: XJO) continued Its strong recent run gaining another 0.5% on Wednesday behind the technology, financials and Industrial sectors which all finished around 1% higher. The growing momentum behind city and bordering reopening’s is clearly boosting confidence despite the threat of staff shortages and the ‘great resignation’ that lies ahead. Despite the…
Tech succumbs to mining, ASX weaker, Tabcorp, Cochlear updates The S&P/ASX200 (ASX: XJO) weakened throughout the day ultimately finishing 0.1% lower with a resurgent technology sector (up 1.6%) unable to overcome a continued sell off in the mining (-1.4%) and energy sector. Annual meeting season is upon us with investor poring through announcements for more guidance into an increasingly uncertain economy. A2 Milk (ASX: A2M) and Zip…
ASX rallies on multiple mergers, Hub24 expands, Praemium delivers After the unexpected end of Victoria’s lockdown that only way was up for the market, with the S&P/ASX200 gaining 0.3% to start the week. Whilst not a large gain it hid a further divergence in cyclical versus defensive sectors with materials, energy, financials and utilities all up strongly, but healthcare, tech and real…
ASX breaks losing streak, mining firms, Treasury juiced, travel boost The S&P/ASX200 (ASX: XJO) managed to break a three-week losing streak to finish 0.6% higher over the five trading days. It was ultimately driven by a strong Friday session, the market up 0.7%, which benefitted from a strong start to the US earnings season but more importantly,…
ASX snaps losing streak, tech platforms jump, South 32’s big deal The S&P/ASX200 (ASX: XJO) broke a three-day losing streak to finish 0.5% higher, however, a late sell off in the banking sector meant gains of as much as 1.2% were reversed. The financials and energy sector were the primary drags, down 0.9 and 0.5% as investors seek out higher quality,…
ASX flat, iron ore retreats, Bank of Queensland hit on revenue The S&P/ASX200 (ASX: XJO) fell 0.2% Wednesday, the third straight lower close. The selling pressure once again turned to the iron ore sector, but primarily the most leveraged, with materials down 1.1% but the likes of Mineral Resources (ASX: MIN) and Fortescue (ASX: FMG)…
ASX down on oil, iron ore jumps, Newcrest’s bold plan The S&P/ASX200 (ASX: XJO) fell 0.3% on Tuesday despite being buoyed by a seven year high in the oil price. All sectors barring consumer staples and healthcare were lower, with the latter gaining 0.9% behind a 1.8% improvement in CSL (ASX: CSL) shares. The outperformance came after management confirmed their previous profit guidance, supported by…
ASX lower, Ampol takes Z, IAG’s pandemic reprieve The S&P/ASX200 (ASX: XJO) strengthened into the close, managing a loss of just 0.3% to start the week. Behind the headline though was a two-speed market with only the energy and materials sector finishing higher, and significantly so, up 1.2 and 1.3% to the positive. The global energy crisis is now the motivating factor for markets…
ASX reverses a month of losses, EML Payments tanks, China PMI improves The S&P/ASX200 managed to reverse four straight weeks of declines, with Friday’s 0.9% gain sending the index 1.9% higher over the week. On Friday it was the commodities and IT sectors leading the way, the most unlikely of partners with the materials sector up 1.8 and IT 1.3%. Every other sector was…
