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US inflation bumps market higher, technology boom, AGL capitulates

The weakest monthly inflation print in close to two years offered the best possible backdrop for the local market on Monday, with the S&P/ASX200 gaining 1.5 per cent. Technology was the standout, up 4.6 per cent, with only a small handful of companies falling on a buoyant day for the market, led by AGL Energy…

Drew Meredith | 31st May 2022 | More
ASX defies gravity, energy and retailers push market higher, Appen tanks

The local market delivered a strong finish to the week, gaining 1.1 per cent on the back of a strong global lead. The primary driver was a weakening of the rhetoric from Chair Powell in relation to the course of rate hikes in the coming months. Energy and discretionary retailers were the standouts, gaining more…

Drew Meredith | 30th May 2022 | More
Appen left at the altar. Market heads lower. Good week continues for US markets.

Appen left at the altar A bizarre blink-and-you-missed takeover approach came and seemingly went for one of the local market’s tech leaders Appen, which develops the datasets for machine learning and artificial intelligence. Canadian company Telus International sprang a $9.50 a share bid on the company, which said it would talk to Telus to try to…

Drew Meredith | 27th May 2022 | More
  • Aussie market creeps higher. US markets lift.

    Aussie market creeps higher Despite a steady diet of news of war, global slowdowns, China lockdowns, inflation and higher rates, the Australian share market managed to rise on Wednesday, as measured by the benchmark indices. The S&P/ASX200 index added 26.4 points, or 0.4 per cent, to finish at 7,155.2, while the broader S&P/ASX All Ordinaries index…

    Drew Meredith | 26th May 2022 | More
    China sniffles hurt market. Tech weakens Wall Street, Dow holds up.

    China sniffles hurt market The Australian share market was weighed down on Tuesday by concerns that COVID-19 lockdowns have hurt economic growth in China, the benchmark S&P/ASX 200 index finished down 20.1 points, or 0.3 per cent, to 7,128.8, while the broader S&P/ASX All Ordinaries closed 0.35 per cent, or 25.7 points, lower to 7,373.2. Commonwealth Bank…

    Drew Meredith | 25th May 2022 | More
    Election, what Election? Codan, Elders bust out. Green arrows on Wall Street.

    Election, what Election? A change of government was yawned-off by the Australian share market on Monday; after being up by 50 points in morning trading, the benchmark S&P/ASX 200 index closed just 3.3 points higher, at 7,148.9. The broader S&P/ASX All Ordinaries rose 7.9 points, or 0.1 per cent, to 7,398.9. All four big banks declined, with…

    Drew Meredith | 24th May 2022 | More
  • Market rallies on China policy, tech jumps, Woolies buys mydeal.com.au

    The Aussie market benefitted from the news that the Chinese Government had cut a key interest rate and a late rally in US markets to post a 1.2 per cent gain to finish the week. The result was driven by a jump in the technology and discretionary sectors, up 4.6 and 2.0 per cent after…

    Drew Meredith | 23rd May 2022 | More
    Follow the leader, consumer businesses send ASX lower, travel is back

    The local market couldn’t overcome growing concerns about stagflation, an instance when the economy slows as inflation increases, with the S&P/ASX200 falling 1.7 per cent on Thursday. The losses were broad-based, with every sector but healthcare falling, led by the consumer sectors. Healthcare gained 0.1 per cent with the discretionary and staples companies down 3.1…

    Drew Meredith | 20th May 2022 | More
  • Four straight gains, iron ore surges, BlueScope upgrades, Boral downgrades

    The domestic market was buoyed by a jump in the iron ore price as Chinese lockdowns continue to ease with the S&P/ASX200 gaining 1 per cent on the back of a 2.5 per cent jump in the materials sector. Only the staples sector finished lower, falling 1 per cent behind a 1.1 per cent fall…

    Drew Meredith | 19th May 2022 | More
    Little by little, market recovery continues, James Hardie upgrades, Bramble’s bid halted

    The domestic market is slowly chipping away at recent losses, with the S&P/ASX200 gaining another 0.3 per cent on Tuesday behind a rally in the energy and utilities sectors. The energy sector was buoyed another 2 per cent by a rally in the oil price amid signs that Chinese demand may recover, with both Woodside…

    Drew Meredith | 18th May 2022 | More