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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
  • Upbeat start to week – and month – likely for Aussie market

    After a strong session for global markets on Friday, Australian shares will take a positive lead into the new week – and month. The Australian benchmark index, the S&P/ASX 200, added 16.5 points, or 0.2 per cent, on Friday, to 7,309.2, but eased 53 points, or 0.7 per cent over the week. ASX futures trading…

    James Dunn | 1st May 2023 | More
    Inflation figure taken as bringing rate relief

    After a poor lead from Wall Street, the S&P/ASX 200 index recovered some of its early losses on Wednesday to close 5.7 points lower at 7316.3, after Australian core inflation for the first quarter came in weaker-than-expected. The broader All Ordinaries index was down 9.4 points, at 7,502.8. Annual inflation fell to 7 per cent…

    James Dunn | 27th Apr 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 gains despite mining selloff, Regis, AMA sink on downgrades

    The local market managed to post a positive start to the week with the S&P/ASX200 gaining 0.3 per cent on the back of a rally in the more cyclical property and retailing sectors. Real estate gained 1.3 per cent and the discretionary sector 0.7 with Star Entertainment (ASX:SGR) a highlight, finishing 4.9 per cent higher….

    James Dunn | 18th Apr 2023 | More
    Another solid week for local market

    A positive mood on Friday lifted the benchmark Australian index, the S&P/ASX 200, by 0.5 per cent on Friday, to 7361.6, with gains in mining companies offsetting losses in health and property sectors. The index added 2 per cent over the week, notching its third consecutive week of gains, and ended at its highest closing…

    James Dunn | 17th Apr 2023 | More
    Healthy job market surprises Aussie market

    On Thursday the Australian share market had to deal with the release of robust jobs data, which sparked predictions that the Reserve Bank of Australia could again lift interest rates. Employment rose by 53,000 in March, while the unemployment rate remained steady at a 50-year-low of 3.5 per cent, according to Australian Bureau of Statistics…

    James Dunn | 14th Apr 2023 | More
  • Aussie market makes it ten of eleven

    The Australian market did not appear overly concerned about tonight’s US inflation figure, with the benchmark S&P/ASX200 notching its tenth rise in 11 trading days. The ASX200 closed 34 points, or 0.5 per cent, higher, at a five-week high of 7,343.9, while the broader All Ordinaries index finished 34.7 points higher, also 0.5 per cent,…

    James Dunn | 13th Apr 2023 | More
    Miners move local market

    Broad gains across the materials sector drove a 2.2 per cent rise in the sub-index on Tuesday, which in turn flowed into an advance in the main Australian indices. The S&P/ASX 200 advanced 90.9 points, or 1.3 per cent, to 7,309.9, while the 500-stock All Ordinaries index gained 92.2 points, or 1.2 per cent, to…

    James Dunn | 12th Apr 2023 | More
    Aussie market’s winning streak ends at eight days

    The Australian share market couldn’t continue its run of consecutive daily gains, closing it out at eight, making its longest winning streak since October 2017.  The streak came to an end on Thursday, with the benchmark S&P/ASX200 index losing 22.3 points, or 0.3 per cent, to 7,219, while the broader All Ordinaries index lost 26.8…

    James Dunn | 11th Apr 2023 | More
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