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Australian sharemarket down on commodities, QBE costs spike, Nanosonic tanks

The S&P/ASX200 commenced the week in the same manner it finishes, falling 0.2 per cent after holding onto a gain of as much as 0.3 per cent during the day. Both the technology and materials sectors were behind the weaker finish, falling 1.5 per cent respectively as the investors await more global economic data. Shares in insurer…

Drew Meredith | 22nd Nov 2022 | More
BHP ups bid for OZ Minerals, market flat, NIB Holdings jumps on sales

All eyes were on the materials sector on Friday, after BHP (ASX: BHP) lobbed a best and final bid for copper producer OZ Minerals (ASX: OZL). The offer of $28.25 per share was approved by the board and will now proceed to due diligence. Despite the size of the offer, the market barely moved with the S&P/ASX200 gaining 0.2 per but…

Drew Meredith | 21st Nov 2022 | More
  • Sharemarket gains despite energy weakness, Webjet recovery continues, Seek guidance on track

    The S&P/ASX200 managed another small gain on Thursday, adding 0.2 per cent as strength in all sectors barring energy and materials, down 2.1 and 1.2 per cent each, managed to offset losses in the coal mining companies. The biggest detractors were New Hope (ASX: NHC) and Whitehaven Coal (ASX: WHC) which lost more than 6 per cent each as coal prices…

    Drew Meredith | 18th Nov 2022 | More
    S&P/ASX200 falls on quarterly updates, Graincorp dividend hike, Nufarm lifts

    The S&P/ASX200 fell 0.3 per cent on Wednesday, with 8 of the eleven sectors finishing the red led by utilities, down 1.5 and retailers, down 1.3 per per cent. The highlight once again was the energy and materials sectors, which gained 1.2 and 0.7 per cent. Shares in Oz Minerals (ASX: OZL) entered a trading halt on rumours that…

    Drew Meredith | 17th Nov 2022 | More
  • Tech paces market as oil, lithium slide, AGL board renewed

    The local market fell 0.1 per cent on Tuesday under the pressure of a weaker energy sector, down 0.9 per cent, after OPEC+ cut their expectations for oil demand in 2023 and beyond; shares in Beach Energy (ASX: BPT) fell 2.8 per cent. It was a similar story for the lithium sector, with broader commodities falling 1 per cent…

    Drew Meredith | 16th Nov 2022 | More
    Market flat despite commodity surge, Elders sinks on update, oil price jumps

    The local market finished slightly lower, down 0.2 per cent, as a jump in commodities, particularly iron ore, offset losses across every other sector. The materials sector gained 3.4 per cent along with energy, after the oil price moved about US$90 per barrel once again. Iron ore was the highlight with Champion (ASX:CIA) gaining 12 per cent, Fortescue (ASX:FMG)…

    Drew Meredith | 15th Nov 2022 | More
    Market soars on inflation data, China restrictions, technology in focus

    The local market rode the US inflation data wave, gaining 2.8 per cent on Friday, buoyed by the hope that interest rate hikes may be set to ease. Every sector finished higher outside of utilities, as Origin Energy (ASX:ORG) reversed 3.2 per cent as investors digest the recent takeover offer; the company was still up…

    Drew Meredith | 14th Nov 2022 | More
    Market drops despite massive Origin takeover bid, Xero CEO quits

    The local market weakened as crypto turbulence spread into global equity markets, with the S&P/ASX200 falling 0.5 per cent. Half of the markets sectors were lower, led by energy and technology, down 2.1 and 1.9 per cent respectively. The standout was utilities, which gained 13 per cent on the back of a massive takeover bid…

    Drew Meredith | 11th Nov 2022 | More
    Gold miners lift market, Orica, NAB deliver strong reports, News sinks

    The local market was buoyed by an unexpected surge in the price of gold, which moved beyond US$1,700 per ounce once again. The result was a 2.5 per cent gain in the materials sector offsetting losses in eight of the remaining sectors with St Barbara (ASX:SBM) and Regis (ASX:RRL) the highlights, up 13 and 12.7…

    Drew Meredith | 10th Nov 2022 | More
  • Market overcomes energy weakness, James Hardie sinks on weak property market

    The S&P/ASX200 gained another 0.4 per cent on Tuesday with a broad-based rally managing to overcome a selloff in the energy sector. The staples and utilities sectors were strongest gaining 1.3 and 1.4 per cent, with healthcare and financials not far behind. Energy, however, fell by more than 2.3 per cent on a weaker oil price and…

    Drew Meredith | 9th Nov 2022 | More
    Commodity push market higher, Westpac profit flat, banks sold down

    The local bourse managed a positive start to the week, with signs of an improving economic outlook in China boosting the commodities sector. Materials gained 3.4 per cent behind 5 per cent rallies in BHP (ASX:BHP) and Fortescue (ASX:FMG), supporting a 0.6 per cent improvement in the S&P/ASX200. Energy also rallied 1.4 per cent despite…

    Drew Meredith | 8th Nov 2022 | More
    Block jumps, market finishes higher, CSR, Pendal deliver

    The local sharemarket capped another positive week, closing 0.5 per cent higher on Friday on the back of a surge in the oil price. The energy sector gained 3.4 per cent behind a jump in Woodside (ASX:WDS) and Santos (ASX:STO), while another five sectors were down lead by healthcare, which fell 0.8 per cent. The…

    Drew Meredith | 7th Nov 2022 | More