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One point, but we’ll take it

The Australian share market managed its eighth straight winning day on Wednesday, but only just; with the S&P/ASX 200 eking out a gain of 1.2 points, to 7123.2. Nor could the broader All Ordinaries index work up any momentum, ending the day 2.8 points higher at 7,434.3. The ASX’s 11 official sectors mostly rose, with…

James Dunn | 6th Apr 2023 | More
Rate hold, but reassessment time

Australian shares advanced for a seventh consecutive trading day on Tuesday after the Reserve Bank held interest rates steady, as the central bank assesses whether its ten-month hiking program is getting on top of inflation. The RBA left the cash rate at 3.6 per cent, but Governor Philip Lowe warned some further rate rises may…

James Dunn | 5th Apr 2023 | More
  • Rates dilemma for Reserve Bank

    The Australian stock market moved higher on Monday, ahead of today’s Reserve Bank board meeting, which is widely expected to see a pause in interest rate rises. Market pricing expectations clearly expect the RBA to leave the cash rate on hold at 3.6 per cent, but economists think the decision will be a closer call,…

    James Dunn | 4th Apr 2023 | More
    ASX powers ahead, materials sector jumps on iron ore, EML Payments surges

    The local market finished the week strongly, gaining 0.8 per cent on Friday, and 3.2 per cent for the week. Once again, the cyclical financial and materials sectors drove the gains, adding 1.9 and 0.5 per cent with both Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP) adding 2.5 per cent. The former benefited from an…

    Drew Meredith | 3rd Apr 2023 | More
  • Sunny days continue for local market

    Australian shares closed stronger on Thursday, boosted by strong gains in the financial and information technology sectors. The optimistic mood was widespread, with ten out of 11 sectoral indices gaining over the day. The benchmark S&P/ASX 200 ended the day up 71.9 points, or 1 per cent, at 7122.3. The All Ords gained 76.40 points,…

    James Dunn | 31st Mar 2023 | More
    ASX rallies on weaker inflation data, oil rallies on supply curbs, Fortescue jumps

    The local market opened weaker on Wednesday, hit by worsening sentiment offshore, but ultimately finished 0.2 per cent higher. The rally was led by the materials and energy sector which both gained 1.2 per cent, buoyed by news that a disagreement between Iraq and Kurdish officials had led to a reduction in supply. The healthcare…

    Drew Meredith | 30th Mar 2023 | More
    ASX gains 1 per cent, takeover bid sends lithium sector higher

    The local market continues to overcome weakening global economic sentiment, with the S&P/ASX200 powering to another 1 per cent gain on Tuesday. The market was buoyed by the mining and energy sectors, which gained 4.1 and 2.2 per cent respectively on the back of a suite of takeover offers. The highest profile of which was…

    Drew Meredith | 29th Mar 2023 | More
    Aussie market absorbs energy woes

    Energy shares sank on Monday, with Woodside among the worst hit, after the lower house passed an emission reduction plan in a deal with the Greens. Energy’s woes dampened the market, but the benchmark S&P/ASX 200 index managed to add 6.8 points, or 0.1 per cent, to 6962, while the broader All Ordinaries advanced 6.2 points,…

    James Dunn | 28th Mar 2023 | More
    ASX finishes lower on bank weakness, Block under attack, Estia gets a bid

    The local bourse finished 0.2 per cent lower taking the weekly loss to 0.6 per cent with the financial sector the biggest detractor, finishing 1.1 per cent lower. Poor sentiment around the outlook for banks contributed to a 1.2 per cent drop in Commonwealth Bank (ASX:CBA), while the materials and utilities sectors outperformed, gaining 0.6…

    Drew Meredith | 27th Mar 2023 | More
  • ASX sinks at the close, seven sectors lower, Soul Patts record profit

    Global sentiment continues to drive daily market movements in Australia, with the S&P/ASX200 falling 0.7 per cent on Thursday. Just two of the markets nine sectors finished higher, that being communications and consumer staples, up 0.1 per cent each, with the materials and technology sector the hardest hit by recessionary concerns, falling 1.1 and 0.8…

    Drew Meredith | 24th Mar 2023 | More
    ASX gains ahead of US Fed decision, gold miners sink on outlook, Woodside’s record day

    It was another positive day for the local market with the S&P/ASX200 adding 0.9 per cent on growing optimism that the spiralling global banking crisis will cause a slowdown in the pace of rate hikes. The Federal Reserve is set to meet overnight, with bond yields remaining well below levels of just two weeks ago…

    Drew Meredith | 23rd Mar 2023 | More
    ASX buoyed by financial sector, rate pause hopes, Domino’s upgraded

    Sharemarkets continue to navigate the escalating global banking crisis, with the S&P/ASX200 managing to deliver a 0.8 per cent gain on the back of a 1.2 per cent surge in the financial sector. The rally was led by the likes of Macquarie (ASX:MQG), up 3.3 per cent, as recent transactions highlighted the continued support for…

    Drew Meredith | 22nd Mar 2023 | More