Daily Market Update

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…

The Reserve Bank of Australia’s aggressive pursuit of a neutral interest rate policy setting has offered a challenging backdrop to the sharemarket this week, with the S&P/ASX200 falling 1.4 per cent on Wednesday. It wasn’t rates alone, however, with the oil price falling to levels not seen since January 2022 as concern grows about the…

After a positive start, the local market turned tail after the Reserve Bank board lifted the cash rate target by 50 basis points to 2.35 per cent, its highest level since December 2014, at its meeting yesterday. The central bank has now raised interest rates for five months in a row, in its most aggressive…

Energy powered the Australian market higher on Monday, with a 4 per cent rise in the S&P/ASX 200 Energy index at the heart of market sentiment, as oil, gas and coal prices rose. The energy action helped the benchmark S&P/ASX 200 advance 23.5 points, or 0.3 per cent, or to 6852.2, while the broader All…

The local market capped off the worst week in several months, falling another 0.3 per cent and taking the weekly loss to 3.9 per cent. On Friday it was the financial sector leading the way on hopes that the economy may remain strong, bounced 0.7 per cent, with the more defensive healthcare and real estate…

The local sharemarket continued its recent weakness, falling another 2 per cent for the first day of spring. Australia’s largest company, BHP (ASX:BHP) was the biggest detractor falling 7.6 per cent, or $3.09 cents as the stock went ex-dividend. This is a regularly forgotten impact of the payment of dividends, which totalled $2.56 plus franking credits, as…