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ASX breaks losing streak, mining firms, Treasury juiced, travel boost The S&P/ASX200 (ASX: XJO) managed to break a three-week losing streak to finish 0.6% higher over the five trading days. It was ultimately driven by a strong Friday session, the market up 0.7%, which benefitted from a strong start to the US earnings season but more importantly,…

ASX snaps losing streak, tech platforms jump, South 32’s big deal The S&P/ASX200 (ASX: XJO) broke a three-day losing streak to finish 0.5% higher, however, a late sell off in the banking sector meant gains of as much as 1.2% were reversed. The financials and energy sector were the primary drags, down 0.9 and 0.5% as investors seek out higher quality,…

ASX flat, iron ore retreats, Bank of Queensland hit on revenue The S&P/ASX200 (ASX: XJO) fell 0.2% Wednesday, the third straight lower close. The selling pressure once again turned to the iron ore sector, but primarily the most leveraged, with materials down 1.1% but the likes of Mineral Resources (ASX: MIN) and Fortescue (ASX: FMG)…

ASX down on oil, iron ore jumps, Newcrest’s bold plan The S&P/ASX200 (ASX: XJO) fell 0.3% on Tuesday despite being buoyed by a seven year high in the oil price. All sectors barring consumer staples and healthcare were lower, with the latter gaining 0.9% behind a 1.8% improvement in CSL (ASX: CSL) shares. The outperformance came after management confirmed their previous profit guidance, supported by…

ASX lower, Ampol takes Z, IAG’s pandemic reprieve The S&P/ASX200 (ASX: XJO) strengthened into the close, managing a loss of just 0.3% to start the week. Behind the headline though was a two-speed market with only the energy and materials sector finishing higher, and significantly so, up 1.2 and 1.3% to the positive. The global energy crisis is now the motivating factor for markets…

ASX reverses a month of losses, EML Payments tanks, China PMI improves The S&P/ASX200 managed to reverse four straight weeks of declines, with Friday’s 0.9% gain sending the index 1.9% higher over the week. On Friday it was the commodities and IT sectors leading the way, the most unlikely of partners with the materials sector up 1.8 and IT 1.3%. Every other sector was…

Tech, debt ceiling stoke rally, Dutch expansion for Collins Foods The resilient run of the S&P/ASX200 continued on Thursday, with the market rallying 0.7% on signs a deal on the debt ceiling may be reached in the US. In Australia, it was more positive news on the vaccine front with NSW hitting 70% double dose and the reopening set to commence…

APRA takes action, CBA falls, GQG set to list The S&P/ASX200 (ASX: XJO) delivered another negative day falling 0.6% as concerns of ‘peak growth’ and stagflation continue to grow. Every sector barring technology and energy were lower, with the latter so far the standout story of the second half of 2021. Whitehaven Coal (ASX: WHC) continues to benefit from booming coal…

RBA halts sell off, record trade surplus, gold rallies The S&P/ASX200 (ASX: XJO) staged a mid-session recovery finishing down just 0.4% after being as far as 1% lower. The selloff was broad-based in terms of sectors with eight of the 11 sectors finishing in the red, but by and large it was focused on the tech sector which fell…

ASX rallies on COVID treatment, travel takes off, real estate boom The S&P/ASX200 (ASX: XJO) followed a strong global lead to finish 1.3% higher as investors digest Merck’s potential COVID-19 treatment. Positive news in the vaccine rollout following Prime Minister Morrison’s border opening last week meant the consumer discretionary sector was among the top performers, up 1.7%. Within the sector it was all…