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ASX gains on inflation data, energy, materials surge, Temple & Webster jumps

What began as another rough day for the S&P/ASX200 finished on a much more positive note, as the market closed at its high, 0.4 per cent higher.

Drew Meredith | 1st Dec 2022 | More
ASX gains as China protests slow, Collins Food tanks, consumer sentiment up

The local market managed to deliver another gain, the S&P/ASX200 adding 0.3 per cent as signs of improvement in China supported a rally in key commodity prices. Rio Tinto (ASX: RIO) gained 3.5 per cent and Fortescue (ASX: FMG) 2.2 per cent after the latter named a new CEO, Fiona Hick, who was previously part of the Woodside’s Australian leadership team. An important…

Drew Meredith | 30th Nov 2022 | More
China threat hits ASX, RBA says sorry, Frazis to leave BOQ

It was a tough start to the week in Australia, with little in the way of a US lead, all eyes were on growing unrest in China, which ultimately saw the S&P/ASX200 fall 0.4 per cent on Monday. Both the energy and materials sectors detracted, down 1.7 and 0.9 per cent as a surge in COVID-19 cases…

Drew Meredith | 29th Nov 2022 | More
  • CBA hits new high, ASX gains, EML jumps on Chairman’s departure

    The local sharemarket finished the week on a positive note, with the S&P/ASX200 gaining 0.2 per cent as more than half of listed companies gained. The standouts were property, utilities and the retail sector all of which finished 1.1 per cent higher. Among the biggest contributors though, was the Commonwealth Bank (ASX: CBA) which gained 1.1 per…

    Drew Meredith | 28th Nov 2022 | More
    ASX strength continues, energy sinks on coal sales, Harvey Norman, Nick Scali shine

    Performance across the key sectors of the S&P/ASX200 continues to diverge with a weak day for energy, down 1.8 per cent, offset by gains in the technology and real estate sectors, which both added 1.2 per cent. Vicinity Centres (ASX:VCX) was a highlight, adding 4.1 per cent following the departure of its CEO, while Whitehaven…

    Drew Meredith | 25th Nov 2022 | More
    ASX rally gathers steam, Qantas profit jumps, coal, energy rallies

    The local market continues to gather steam ahead of a number of major economic announcements, with the S&P/ASX200 finishing 0.7 per cent higher. The rally was driven by a surge in the energy and utilities sectors both up 1.6 and 1.3 per cent as coal and oil prices rallied on another production cut. Whitehaven Coal…

    Drew Meredith | 24th Nov 2022 | More
  • ASX hits five month high, Virgin Money jumps, crypto stocks dumped

    The local market reached a five month high on Tuesday, buoyed by the energy and materials sectors once again, which finished 2.6 and 1.2 per cent in the positive, the S&P/ASX200 gained 0.6 per cent. The standouts remain in energy, or coal at least, with Whitehaven (ASX:WHC) and New Hope (ASX:NHC) up more than 7…

    Drew Meredith | 23rd Nov 2022 | More
    Australian sharemarket down on commodities, QBE costs spike, Nanosonic tanks

    The S&P/ASX200 commenced the week in the same manner it finishes, falling 0.2 per cent after holding onto a gain of as much as 0.3 per cent during the day. Both the technology and materials sectors were behind the weaker finish, falling 1.5 per cent respectively as the investors await more global economic data. Shares in insurer…

    Drew Meredith | 22nd Nov 2022 | More
  • BHP ups bid for OZ Minerals, market flat, NIB Holdings jumps on sales

    All eyes were on the materials sector on Friday, after BHP (ASX: BHP) lobbed a best and final bid for copper producer OZ Minerals (ASX: OZL). The offer of $28.25 per share was approved by the board and will now proceed to due diligence. Despite the size of the offer, the market barely moved with the S&P/ASX200 gaining 0.2 per but…

    Drew Meredith | 21st Nov 2022 | More
    Sharemarket gains despite energy weakness, Webjet recovery continues, Seek guidance on track

    The S&P/ASX200 managed another small gain on Thursday, adding 0.2 per cent as strength in all sectors barring energy and materials, down 2.1 and 1.2 per cent each, managed to offset losses in the coal mining companies. The biggest detractors were New Hope (ASX: NHC) and Whitehaven Coal (ASX: WHC) which lost more than 6 per cent each as coal prices…

    Drew Meredith | 18th Nov 2022 | More