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ASX manages gain, Zip cans Sezzle deal, Eagers upgrade, Lake hit by short seller

The local market managed to overcome increasingly negative global sentiment ahead of an important US earning season that begins later this week, finishing 0.1 per cent higher. The stalwart blue chips were the standout with financials, consumer staples and healthcare increasing 0.7, 1.2 and 1.1 per cent respectively. The Commonwealth Bank (ASX: CBA) gained 1.2…

Drew Meredith | 13th Jul 2022 | More
Local market begins on weaker note, EML loses CEO, Costa flags citrus issues

The Australian market couldn’t carry over a positive week for the US market, falling throughout the day to finish 1.1 per cent lower. There were very few highlights outside of the healthcare sector, which gained 0.1 per cent, while every other sector finished lower. Materials and technology continue to be hit on the back of…

Drew Meredith | 12th Jul 2022 | More
  • China stimulus news good for markets

    It was a solid week last week for the Australian market, advancing on four of the five days. The S&P/ASX 200 gained 138.1 points, or 2.1 per cent, for the week, to end at 6,678, while the broader S&P/ASX All Ordinaries index added 156.6 points, or 2.3 per cent, to 6,877. The All Tech index…

    Drew Meredith | 11th Jul 2022 | More
    Miners help Aussie market

    The benchmark S&P/ASX200 index finished at the highs of the day on Thursday, up 53.5 points, or 0.81 per cent, to 6648.0. The broader All Ordinaries rose 52.6 points, or 0.78 per cent, to 6836.9. A 1.9 per cent rise in Singapore iron ore futures, to $US113.30 a tonne, helped the big miners, with BHP up…

    Drew Meredith | 8th Jul 2022 | More
  • Local market fights commodity jitters

    A tech rebound – possibly a dead-cat bounce – tried to drive the Australian market higher on Wednesday, but the concerns on commodity prices more than outweighed this. By the close, the benchmark S&P/ASX 200 had shed 34.8 points, or 0.52 per cent, to 6,594.5, while the broader All Ordinaries surrendered 33.8 points, or 0.5…

    Drew Meredith | 7th Jul 2022 | More
    Rate rise surprises no-one

    As widely expected, the RBA raised the cash rate by 0.5 percentage points yesterday, taking it to 1.35%, as widely expected. This is the fastest back-to-back increase in rates since increases of 0.75% and 1% in November and December 1994 respectively. But the RBA remains upbeat on the economy and employment, despite remaining concerned about…

    Drew Meredith | 6th Jul 2022 | More
    Warning: interest rate rise ahead

    The Australian share market ended in the green on Monday, despite investor skittishness ahead of today’s Reserve Bank board meeting. The central bank is widely predicted to lift its cash rate by another 50 basis points today, which would take it to 1.35 per cent, in the intensifying effort to rein in surging inflation, which…

    Drew Meredith | 5th Jul 2022 | More
    Market reverses gains, commodities, energy sink, Brambles cut CostCo deal

    The Australian market started the session on a positive note, moving as much as 1 per cent higher on the first day of the new financial year but ultimately sank to a 0.4 per cent loss. The realisation that an interest rate-driven slowdown in the global economy may hit commodity demand saw both energy and…

    Drew Meredith | 4th Jul 2022 | More
    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
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