Daily Market Update

ASX falls 0.8%, retail in the spotlight, China’s economic miracle, QBE gets slammed The ASX200 (ASX:XJO) started the week on a negative footing, falling 0.8%. The discretionary retail (0.2%) and IT (0.5%) sectors were the only highlights but weren’t sufficient to offset a fall in the materials sector (-1.9%). It was the normal culprits pushing the market…

A rare losing week for markets, Tyro (ASX:TYR) takes a hit, Afterpay (ASX:APT) overtakes Telstra (ASX:TLS) The ASX200 (ASX:XJO) finished flat on Friday, sending the index to its first negative week in over a month, down 0.6%.  Afterpay Ltd (ASX:APT) was once again the standout, moving 10.0% higher and overtaking Telstra Corporation (ASX:TLS) as it moved to a market capitalisation…

Firmer finish for ASX, Afterpay (ASX:APT) on fire, China exports surprise The ASX200 (ASX:XJO) finished another 0.4% higher on Thursday with Afterpay (ASX:APT) a key contributor, jumping 9.7% and sending the entire tech sector up 4.7% for the session. The trigger appeared to be the listing of US competitor Affirm (NASDAQ:AFRM), which jumped 98% upon listing and seems to be bringing…

ASX flat as value rotation continues, Premier (ASX:PMV) hits record  The ASX200 (ASX:XJO) eked out a 0.1% gain for the day, with the ‘value’ rotation in full swing. The strengthening oil price combined with a weaker USD sent the sector 4.2% higher, Origin Energy (ASX:ORG) and OilSearch Ltd (ASX:OSH) were the key beneficiaries, up 3.0% and 6.0% respectively. ORG has been further…

Blistering start slows, ASX down 0.9%, bond rates higher, Bitcoin falls 20%  After a blistering opening to the year in which the ASX200 (ASX:XJO) added 2.6%, attention once again turned to the economic outlook, sending the ASX200 down 0.9% on Monday.  Every sector but energy weakened, with the IT sector the hardest hit falling 2.2%, Afterpay (ASX:APT) a key detractor down…

ASX finishes flat, border closures hit travel, AGL Energy downgrades, weaker open ahead The ASX200 (ASX:XJO) finished flat to begin the week, with news that US politicians finally agreed on a USD$900 billion stimulus package not enough to offset the NSW outbreak and subsequent border closures. Every sector was lower apart from materials and consumer staples, with the latter benefitting…

Winning streak hits seven weeks, A2 Milk (ASX:A2M) and Mesoblast (ASX:MSB) battered The ASX200 (ASX:XJO) managed to overcome a 1.2% fall to cap off the seventh straight week of gains, adding 0.5%. The IT sector continued to lead the way behind Afterpay (ASX:APT), finishing 5.9% higher, whilst energy lost 2.4% as the US economy appeared to weaken. The biggest…

Santa rally continues, all eyes on financials, Rex Airlines (ASX:REX) gets approved The ASX200 (ASX:XJO) finished 0.7% higher after a positive overseas lead, with every sector finishing higher. Attention once again turned to the technology sector, with BNPL players Afterpay (ASX:APT) and Zip (ASX:Z1P) finishing 4.2% and 6.7% higher. While these companies have been flagged as Australia’s technology leaders, the true nature of…

ASX 200 falls 0.4%, China flags iron ore concerns, Vicinity (ASX:VCX) confirms dividend A weak global lead pushed the ASX200 (ASX:XJO) down 0.4% today, with the China Iron and Steel Association flagging concerns about the ballooning iron ore price at the same time that maintenance hit export volumes in November. BHP (ASX:BHP) and Fortescue (ASX:FMG) bore the brunt down 2.3% and 3.1% respectively.  Yet…

ASX 200 lifts as Wesfarmers (ASX:WES) and Afterpay (ASX:APT) hit records, IOOF acquisition waved through The ASX200 (ASX:XJO) continued its winning streak, adding another 0.3% on Monday as US futures ticked higher with the Pfizer (NYSE:PFE) set to be in use this week.  It was a day of records that powered the market though, with…

Six consecutive weeks of gains, CSL (ASX:CSL) lower as vaccine pulled, Fortescue (ASX:FMG) overtakes ANZ Bank (ASX:ANZ) The ASX 200 (ASX:XJO) finished the week on a negative note, falling 0.6%, but managed to deliver its sixth straight week of gains, adding 0.1% over the five days. The majority of the weakness was driven by the 3.2% fall…

ASX breaks seven day winning streak, AUD starting to bite, tech under pressure The ASX200 (ASX:XJO) couldn’t take it’s winning run beyond seven days once again, falling 0.7% on the back of weakness in the technology sector, down 2.1%.  The weakness was twofold, with Facebook (NASDAQ:FB) facing US legal action seeking to have the company’s Instagram and…