Daily Market Update

ASX mixed but positive, EML jumps a third, Kogan smashed It was another mixed day for the local market with the S&P/ASX200 (ASX: XJO) ultimately finishing just 0.1 per cent higher. The headline concealed an extremely varied market with the technology sector gaining 2.4 per cent after a 30 per cent spike in EML Payments (ASX: EML) but the financial sector continued to…

ASX falls on tech, RBNZ hikes rates, Harvey Norman profit slumps Weak global sentiment continues to pressure the S&P/ASX200 (ASX: XJO) with the market falling another 11 points or 0.2 per cent on Monday. This time the selling was widespread, with just utilities and energy gaining 1 and 1.2 per cent, whilst the technology and industrial shares…

Market rallies on iron ore, Pinnacle’s big deal, Bapcor tanks Yesterday’s story carried into trading on Tuesday, with the S&P/ASX200 (ASX: XJO) gaining another 0.8 per cent. It was pushed higher primarily by the more cyclical sectors with both mining and energy gaining more than 2 per cent, with the technology sector falling heavily, down 3.5 per…

ASX follows global markets lower, AMP retains property, travel stocks hit The S&P/ASX200 (ASX: XJO) succumbed to the global weakening of sentiment, falling 0.6 per cent on Monday with both energy and consumer businesses the major drag. The energy sector continues to fall as oil prices weaken, falling 1.6 per cent, despite surging gas prices now impacting on the East…

Crown offer pushes market higher, NextDC caps strong week, Accent hit by closures The S&P/ASX200 (ASX: XJO) capped a volatile week with a positive finish, gaining 0.2 per cent with most sectors moving higher. The highlights came from healthcare and consumer staples, which both added 0.9 and 0.7 per cent respectively. The discretionary sector was weaker despite Crown Limited (ASX: CWN) topping…

ASX delivers marginal gain, oil price pain continues, Evolution spikes The S&P/ASX200 (ASX: XJO) managed to eke out a positive day, gaining 0.1 per cent or just 9 points as selling pressure from the banks offset solid gains in the rest of the market. The financial sector fell 0.6 per cent with the Commonwealth Bank (ASX: CBA) giving back another 1.6 per cent. The…

ASX weak on CBA tumble, AUD falls on weak wage data, Seven, Seek upgrades The S&P/ASX200 (ASX: XJO) finished 0.7 per cent lower on Wednesday, with market behemoth the Commonwealth Bank of Australia (ASX: CBA) dropping over 8 per cent and dragging the financial sector down 2.7 per cent along with it. Most other sectors were higher led by the IT and…

ASX falls despite dovish RBA, energy, mining lower, OZ Minerals upgrades The S&P/ASX200 (ASX: XJO) fell another 0.7 per cent despite strong comments from the Reserve Bank of Australia Governor who confirmed interest rates would be doing nowhere until at least 2024. Every sector barring technology finished lower, which gained 0.2 per cent during the session. Once again, the materials and energy sectors were weaker as…

 The S&P/ASX200 (ASX: XJO) gained another 0.3 per cent to begin the week, benefitting from broad-based strength. Each of the consumer discretionary, healthcare and technology sectors gained more than 1 per cent with experimental group Mesoblast (ASX: MSB) leading the market by finishing 12 per cent higher. The company delivered a positive update on their “new weapon” a treatment aimed at combatting heart…

ASX down 0.2 per cent, unemployment surprise, iron ore rallies The S&P/ASX200 (ASX: XJO) finished the week on a stronger note, gaining 0.8 per cent behind a strong recovery in the mining sector, which gained 2.3 per cent. The likes of Fortescue (ASX: FMG) and BHP (ASX: BHP) added 2 and 2.8 per cent respectively on the back of a rise in the…

ASX falls, unemployment jumps, Ramsay, Nearmap struggle The S&P500/ASX200 (ASX: XJO) fell throughout the session ultimately finishing 0.6 per cent lower with Fortescue (ASX: FMG) a rare standout. The company gained over 8 per cent after the CEO delivered a speech highlighted the huge green energy opportunity and dry powder that Fortescue Future Industries had available. The rally supported the materials sector which gained 2.3 per…

Market weakens, NAB hits three year high, Vicinity centres ‘positive signs’ The S&P/ASX200 (ASX: XJO) weakened throughout the day, ultimately finished 0.2 per cent lower as both the energy and materials sector continued to fall. Iron ore prices remain under pressure due to well publicised steel mill shutdowns which sent BHP (ASX: BHP) down 2.5 per cent and Fortescue (ASX: FMG) another 2 per…