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Market limps to eight-month high

It was a mixed day on the local market on Wednesday, with six of the 11 sectors higher, and the upshot being a 0.1 per cent rise in the benchmark S&P/ASX 200 index, to 7393.4. The broader All Ordinaries Index added 11.9 points, or 0.2 per cent, to 7,609.5. The market was not exactly off to the races, but…

Drew Meredith | 19th Jan 2023 | More
Market mulls mixed China data

A better-than-expected performance by China’s economy in the December quarter was not enough to inspire the Australian stock market on Tuesday, perhaps overshadowed by a data release showing a fall in China’s population for the first time in decades. According to a release from China’s National Bureau of Statistics, the population of mainland China was 1.411 billion people at the end…

Drew Meredith | 18th Jan 2023 | More
Strong start to 2023 continues

The Australian shares benchmark gained 60.1 points, or 0.8 per cent, on Monday to reach its highest level in nine months, at 7,388.2 points. The S&P/ASX 200 has had a good start to 2023, racking up a 6.4 per cent gain so far. The broader All Ordinaries index added 64.9 points, or 0.9 per cent, to 7,605, to be…

Drew Meredith | 17th Jan 2023 | More
  • Energy drives ASX higher, Mineral Resources bid, Fletcher takes a hit

    The local bourse couldn’t manage a positive week, with a negative lead from Wall Street and renewed rhetoric around rate hikes impacting on sentiment. The S&P/ASX200 finished down 0.8 per cent with energy and industrials the rare winners, up 0.4 and 0.2 per cent, while the tech and utilities sector both fell by more than 2 per cent. Block (ASX: SQ2)…

    Drew Meredith | 19th Dec 2022 | More
    Weaker Chinese data, aggressive Fed floor local stocks

    The Australian share market struggled on Thursday, with sentiment hit by a weaker-than-expected economic update out of China, and an aggressive statement from the Federal Reserve saying that at least 75 basis points in rate hikes – or 0.75 percentage points – is in the offing in 2023 as the US central bank continues its fight against…

    Drew Meredith | 16th Dec 2022 | More
    Aussie market rises across the board

    Local stocks enjoyed a positive lead-in from Wall Street, after the US consumer inflation figure rose 7.1 per cent in the year to November, less than economists had expected and down from a 7.7 per cent annual rise in October. The S&P/ASX200 index gained 48 points, or 0.7 per cent, on Wednesday, to 7251.3, while the broader All Ordinaries gained 49.5…

    Drew Meredith | 15th Dec 2022 | More
  • Banks boost local bourse

    A strong performance by the banking sector led the Australian share market on Tuesday, as traders and investors cast a wary eye ahead of the monthly US inflation readout overnight.The benchmark S&P/ASX200 index gained 22.5 points, or 0.3 per cent, to 7203.3, while the broader All Ordinaries gained 18.6 points, or 0.2 per cent, to 7389.2. The banks were inspired…

    Drew Meredith | 14th Dec 2022 | More
    Hammered Origin leads market lower

    The S&P/ASX 200 fell 0.5 per cent, or 32.4 points, to 7180.8 on Monday, dragged lower by losses across the utilities sector, which contains Origin Energy – and the big electricity and gas supplier were hammered 61 cents, or 7.8 per cent, lower to $7.19, amid fears that the federal government’s intervention into the gas market could see Brookfield and EIG Group walk away…

    Drew Meredith | 13th Dec 2022 | More
  • ASX gains, but down 1.7 per cent for the week, Healius sells assets as iron ore surges

    The local market managed to end the week on a positive note, adding 0.5 per cent, as continued strength in the iron ore price sent the materials sector close to 2 per cent higher. The rally was led by BHP (ASX: BHP) which gained 2.7 per cent, and Fortescue (ASX: FMG) which added 2.8 per cent, with the technology…

    Drew Meredith | 12th Dec 2022 | More
    China COVID easing fails to negate market fears

    Geo-political and economic worries mounted for the local share market on Thursday, with the upshot being a slide of 53.9 points, or 0.8 per cent, in the benchmark S&P/ASX200 index, to 7,175.5 points while the broader All Ordinaries index lost 53.8 points, or 0.7 per cent, to 7,369.4. Seven of the ASX’s 11 official sectors retreated, with energy the worst hit as…

    Drew Meredith | 9th Dec 2022 | More