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Local market gains on earnings, Tassal gets a bid, BWX slumps

The local market managed to deliver another strong day, the S&P/ASX200 finishing 0.9 per cent higher. Five sectors were lower, albeit only slightly, with consumer discretionary the biggest detractor on concerns that higher interest rates will cut disposable incomes. This sent the likes of JB Hi-Fi (ASX: JBH) and Zip Co (ASX: ZIP) down 3.9 and…

Drew Meredith | 29th Jun 2022 | More
Market buoyed by Wall Street, gold stocks tank, OZ Minerals downgrade

A positive lead from Wall Street, in which bad news on the economy became good news for stocks, resulted in the ASX gaining 1.9 per cent to begin the week. Every sector was higher, with energy and financials gaining 2.6 per cent each, buoyed by hopes that rate hikes may not be as aggressive as…

Drew Meredith | 28th Jun 2022 | More
  • ASX snaps losing streak, Qantas cuts debt, Vulcan surges on big deal

    The local market has reversed two straight weeks of losses, posting a 0.8 per cent gain on Friday which took the S&P/ASX200 to a weekly gain of 1.6 per cent. The rally was powered by the unloved sectors in technology, property and retailers which were up 6, 2.5 and 2.2 per cent respectively as lower…

    Drew Meredith | 27th Jun 2022 | More
    Market overcomes lithium rout, Lake Resources continues to tank, property outperforms

    The selloff in lithium stocks has returned once again, with the likes of Pilbara (ASX: PLS) and Liontown (ASX: LTR) pushing the commodities sector to a 1.5 per cent loss. Along with the energy sector which fell 2.1 per cent is now officially in a bear market, these were the only two sectors to post…

    Drew Meredith | 24th Jun 2022 | More
  • Market struggles to maintain gains, Crown Sydney approved, coal remains in focus

    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…

    Drew Meredith | 23rd Jun 2022 | More
    Markets weaken on threat of recession, commodities, energy tank, Vicinity upgrades

    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…

    Drew Meredith | 21st Jun 2022 | More
    ASX caps worst week in two years, Humm deal off, oil falls

    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…

    Drew Meredith | 20th Jun 2022 | More
    ASX sinks to another loss, Link tanks on competition concerns, NZ contracts

    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…

    Drew Meredith | 17th Jun 2022 | More
    Markets suffer worst drop since pandemic began, ASX enters correction, Polynovo a rare winner

    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…

    Drew Meredith | 15th Jun 2022 | More
  • ASX falls in worst week since 2020, Atlas bid, Douglass returns

    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,…

    Drew Meredith | 14th Jun 2022 | More
    Banks lead market lower

    The struggles of the big banks and mortgage lenders in the wake of this week’s rate rise continued on Thursday, with the financials sub-index losing 2.2 per cent and helping to drag the benchmark S&P/ASX200 index 101.4 points, or 1.4 per cent lower, to an almost four-week low of 7019.7. The broader S&P/ASX All Ordinaries fell 106.6 points, or…

    Drew Meredith | 10th Jun 2022 | More
    Yellow glow on ASX. Banks bomb out. US indices lower, energy up.

    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…

    Drew Meredith | 9th Jun 2022 | More
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