Daily Market Update

The energy sector powered the Australian sharemarket on Thursday, with a 2.8 per cent gain on the back of the apparent sabotage of the Nord Stream sub-sea pipelines linking Europe and Russia. This helped the benchmark S&P/ASX200 index to gain 93 points, or 1.4 per cent to 6,555, while the broader All Ordinaries advanced 100.8 points, or…

After three consecutive losing days, the Australian sharemarket turned northward again on Tuesday, led by the resources stocks. After being scorched on Monday, the ASX’s coal and lithium stocks rallied on Tuesday as global markets stabilised, as did energy prices, despite rising recession risks. The S&P/ASX 200 Index added 26.8 points, or 0.4 per cent,…

With the worst losses in two years for the ASX’s mining and energy sectors, there was no way that the Australian share market’s major indices were gaining ground yesterday, and so it unfolded.  The mining sub-index slid 5.3 per cent, its worst day since a 6.8 per cent fall on May 1, 2020, while the…

The benchmark S&P/ASX 200 index rose 86.5 points, or 1.3 per cent, on Tuesday to 6,806.4 points, while the broader All Ordinaries gauge added 81.4 points, or 1.2 per cent, to 7,030. Nine of the ASX’s 11 sectors gained ground, with real estate and healthcare the only ones to retreat. The mining sector was the…

Utilities and tech shares dragged the S&P/ASX 200 lower on Monday, as the benchmark lost 19.2 points, or 0.3 per cent, to 6,719.9 points, its lowest closing level in two months. Real estate was the only sub-index to post a gain, led by heavyweight real estate investment trust (REIT) GPT, which gained 9 cents, or…

It was a sea of red on the S&P/ASX200, with the market closing down 1.5 per cent on Friday, resulting in a 2.1 per cent loss for the week. A reversal in the energy sector, triggered by a resolution of potential railroad strikes sent the energy sector down 3 per cent, with Whitehaven Coal (ASX:WHC)…

The Australian sharemarket managed to follow the US, posting a gain of 0.2 per cent on Thursday with the energy sector leading the way, up 3.7 per cent. New Hope (ASX:NHC) and Whitehaven Coal (ASX:WHC) gained 6 and 4.6 per cent respectively on news of the US railroad workers strike which could increase the cost…

The local market fared better than global shares on Wednesday, falling 2.6 per cent in comparison to the 5 per cent drop in the Nasdaq. There was red across the board, led by the property and retail sectors, with the likes of Charter Hall (ASX:CHC) and Wesfarmers (ASX:WES) dropping more than 4 per cent on…

The local market managed a fourth straight day of gains, adding 0.6 per cent behind a strong performance from the property and consumer facing sectors. Property finished 1.7 per cent higher ahead of what is expected to be a weaker US inflation reading while Star Entertainment (ASX:SGR) also gained 4.5 per cent. The latter occurred…

Australian shares advanced for a third straight day on Monday, driven by the materials sub-index, which rode rising commodity prices to a 2.2 per cent gain. The S&P/ASX 200 benchmark advanced by 70.3 points, or 1 per cent, to 6964.5, while the broader All Ordinaries index closed up by a similar percentage, lifting 69.2 points…

The local market was buoyed to a significant 1 per cent gain for the week, following a strong day on Friday. The 0.7 per cent gain was driven by the energy and materials sector which gained 1.1 and 3.3 per cent respectively on news of a potential split of Mineral Resources (ASX:MIN). Rumours that the…

The Australian sharemarket surged in the afternoon, gaining more than 1.6 per cent after the Reserve Bank Governor flagged a more cautious approach to future rate rises. Every sector finished the day higher and significantly so with the technology sector gaining 2.8 per cent as bond yields fell. The top performers were Life360 (ASX:360), Megaport…