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The ASX 200 (XJO:ASX) managed to fight off the widespread implications of Victoria’s ‘State of Disaster’ announcement, finishing flat for the delay despite nearly all businesses now being forced to close down.
The ASX 200 (XJO:ASX) fell 2.0% on Friday, but managed to hold onto a 0.5% gain for the month; it’s fourth straight winning month.
The Australian share market and ASX200 (ASX: XJO) finished the week down 0.2%, with the renewed confidence following the extension of the JobKeeper program offset by China’s growing combativeness and weakness in the US technology sector.
Treasurer Frydenberg provided his long-awaited budget update, which was just that an update, offering little in the way of guidance into the future. The Government are predicting unemployment will peak at 9.25% across the country, with ballooning deficits adding $250 billion to the debt pile.
The ASX 200 (ASX:XJO) finished off its lows for the day, falling 1.3%, as both Victoria and several US states hit record COVID-19 case levels, denting market sentiment.
Despite an increasing chorus of experts suggesting the technology sector has moved beyond reasonable levels, the rally continues. The ASX 200 (ASX:XJO) added 2.6%, hitting a six week high, with a 5.7% rally in the IT sector among the largest contributors.
The ASX 200 (ASX:XJO) continued its recent weakness, falling 0.5% on Monday, as concerns of a secondary outbreak in NSW and escalating deaths in the US hit investor confidence.
Sideways….a weak opening ahead It was another bumpy, albeit positive, week for markets with the ASX 200 (ASX:XJO) gaining 0.4% on Friday and finishing around 2.0% higher for the week. The primary driver remained Australia’s main recovery hope, commodity exports, with the materials sector finishing 4.2% as the iron ore price remained above USD$115 per…
The ‘Vaccine’ rally was short-lived with a swathe of economic data sending the ASX 200 (ASX:XJO) 0.7% lower on Thursday.
The ASX 200 joined the global sharemarket rally, adding 1.9%, after healthcare US biotech company Moderna Inc. (NASDAQ:MRNA) announced positive results from their Phase 1 trial of a potential COVID-19 treatment.
Woodside Petroleum Ltd (ASX:WPL) was the latest to announce a write-down, with management reducing the value of their oil and gas assets by US $4.2 billion due to the lower oil price. WPL now trades at the same level it did in 2005, despite raising capital on multiple occasions, clear indication that the greatest opportunities lie in cleaner energy sources.
The ASX 200 (ASX:XJO) gained another 1%, taking a positive lead from US markets, with over 60% of the rally coming from the Big Four Banks, Commonwealth Bank of Australia Ltd (ASX:CBA) up 2.2%, and miners, BHP Group Ltd (ASX:BHP) up 2.2% after the iron ore price exceeding US$118 per tonne.
