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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
    Woolies sees inflation impact, Perpetual rejects new bid, AUB lifts guidance

    Shares in Woolworths(ASX:WOW) neared a one year low, falling 3.5 per cent, after the company delivered another quarterly update. While the headline numbers were solid, with sales up 1.8 per cent to $16.36 billion, concern was raised about the impact of food price inflation of 7.3 per cent in Australia, and whether this will impact…

    Drew Meredith | 4th Nov 2022 | More
    Market flat ahead of Fed decision, Amcor slides, building approvals slump

    The local market managed a small gain on Wednesday, adding 0.1 per cent, as strength in the energy and materials sectors, up 1.1 per cent each, offset losses in property and technology. Among the standouts were a rally in fund manager Perpetual (ASX:PPT), which gained 5.5 per cent, and Rio Tinto (ASX:RIO) which finished 2.4 per cent higher. Amcor…

    Drew Meredith | 3rd Nov 2022 | More
  • Another 0.25 per cent hike, market rallies, the end is near

    The local market was spurred on by a smaller than expected cash rate increased by the Reserve Bank of Australia. The 25 basis point increase once again proved that what the market ‘prices in’ isn’t always correct, quite the opposite. As early as this morning the National Australia Bank (ASX:NAB) suggested that there was a real risk of…

    Drew Meredith | 2nd Nov 2022 | More
    Tech pushes market to gain, rate decision ahead, EML slump deepens

    The local market followed a strong overseas lead to post another 1.2 per cent gain on Monday, spurred higher by a rally in the technology and discretionary sectors, which added 2.6 and 2.7 per cent respectively. The strength was broad based with only the energy sector contracting, as smaller and mid-cap companies took centre stage…

    Drew Meredith | 1st Nov 2022 | More
  • Market sinks on commodities, real estate gains, Brainchip tanks

    The local market finished the week on a negative tone, falling 0.9 per cent as the country’s largest iron ore miners were hit by further falls in the price of the commodity. The entire sector fell 4 per cent driven loan by a 9.2 per cent fall in Champion Iron (ASX:CIA), an 8.2 per cent drop…

    Drew Meredith | 31st Oct 2022 | More
    Four on the trot for the Aussie market

    The local sharemarket advanced for a fourth straight day on Thursday, with a strong performance by the energy and mining sectors outweighing losses by three of the big four banks. The benchmark S&P/ASX200 index closed up 34.2 points, or 0.5 per cent, to 6845.1, with the broader All Ordinaries rising 37.2 points, also 0.5 per cent, to 7042.3. Driving Thursday’s…

    Drew Meredith | 28th Oct 2022 | More
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