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Local market back in the green

After three consecutive losing days, the Australian sharemarket turned northward again on Tuesday, led by the resources stocks. After being scorched on Monday, the ASX’s coal and lithium stocks rallied on Tuesday as global markets stabilised, as did energy prices, despite rising recession risks. The S&P/ASX 200 Index added 26.8 points, or 0.4 per cent,…

Drew Meredith | 28th Sep 2022 | More
Resources, energy drag market lower

With the worst losses in two years for the ASX’s mining and energy sectors, there was no way that the Australian share market’s major indices were gaining ground yesterday, and so it unfolded.  The mining sub-index slid 5.3 per cent, its worst day since a 6.8 per cent fall on May 1, 2020, while the…

Drew Meredith | 27th Sep 2022 | More
Aussie market catches mining fever

The benchmark S&P/ASX 200 index rose 86.5 points, or 1.3 per cent, on Tuesday to 6,806.4 points, while the broader All Ordinaries gauge added 81.4 points, or 1.2 per cent, to 7,030. Nine of the ASX’s 11 sectors gained ground, with real estate and healthcare the only ones to retreat. The mining sector was the…

James Dunn | 21st Sep 2022 | More
  • Aussie market eases to two-month low

    Utilities and tech shares dragged the S&P/ASX 200 lower on Monday, as the benchmark lost 19.2 points, or 0.3 per cent, to 6,719.9 points, its lowest closing level in two months. Real estate was the only sub-index to post a gain, led by heavyweight real estate investment trust (REIT) GPT, which gained 9 cents, or…

    Drew Meredith | 20th Sep 2022 | More
    Energy reversal hits market, inflation drags ASX lower, Atlas Arteria falls

    It was a sea of red on the S&P/ASX200, with the market closing down 1.5 per cent on Friday, resulting in a 2.1 per cent loss for the week. A reversal in the energy sector, triggered by a resolution of potential railroad strikes sent the energy sector down 3 per cent, with Whitehaven Coal (ASX:WHC)…

    Drew Meredith | 19th Sep 2022 | More
    Market sinks on US inflation, property, tech lead selloff, Atlas capital raising

    The local market fared better than global shares on Wednesday, falling 2.6 per cent in comparison to the 5 per cent drop in the Nasdaq. There was red across the board, led by the property and retail sectors, with the likes of Charter Hall (ASX:CHC) and Wesfarmers (ASX:WES) dropping more than 4 per cent on…

    Drew Meredith | 15th Sep 2022 | More
  • RBA spurs market to gain, Mineral Resources rockets, Nuix jumps

    The local market was buoyed to a significant 1 per cent gain for the week, following a strong day on Friday. The 0.7 per cent gain was driven by the energy and materials sector which gained 1.1 and 3.3 per cent respectively on news of a potential split of Mineral Resources (ASX:MIN). Rumours that the…

    Drew Meredith | 12th Sep 2022 | More
    Miners push market to poor week, financials bounce on Friday, AMP loses contract

    The local market capped off the worst week in several months, falling another 0.3 per cent and taking the weekly loss to 3.9 per cent. On Friday it was the financial sector leading the way on hopes that the economy may remain strong, bounced 0.7 per cent, with the more defensive healthcare and real estate…

    Drew Meredith | 5th Sep 2022 | More
  • Market weakness continues on bond yields, Suez Canal blocked again, BHP goes ex

    The local sharemarket continued its recent weakness, falling another 2 per cent for the first day of spring. Australia’s largest company, BHP (ASX:BHP) was the biggest detractor falling 7.6 per cent, or $3.09 cents as the stock went ex-dividend. This is a regularly forgotten impact of the payment of dividends, which totalled $2.56 plus franking credits, as…

    Drew Meredith | 2nd Sep 2022 | More
    Market rallies despite energy weakness, Harvey Norman sales improve, toll road recovers

    The S&P/ASX200 almost turned around a sharply weaker start to trading on the final day of August, falling just 0.2 per cent on Wednesday. In a reverse of recent days, the energy sector was the biggest detractor after the European Union warned of a potential intervention in energy markets and China faces another COVID-19 outbreak….

    Drew Meredith | 1st Sep 2022 | More
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