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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
China weakness sends market lower, Brambles confirms takeover talks, Qube jumps

The local market commenced the week on a more positive note, with the S&P/ASX200 gaining 0.3 per cent on the back of a strong performance from the industrials sector, which finished 2.4 per cent higher. Technology shares also rallied behind the likes of Xero (ASX: XRO) up 2.1 and 4.4 per cent as falling bond…

Drew Meredith | 17th May 2022 | More
  • Market turns on tech sector, Block, Xero surge, gold miners weaken

    The local market finished the week on a high note, gaining 1.9 per cent on the back of an incredible surge in the technology sector. The mid-session turnaround in the Nasdaq pushed the technology sector to a 6.9 per cent gain after the US-listed payment provider and owner of Afterpay, Block (ASX: SQ2) gained 15…

    Drew Meredith | 16th May 2022 | More
    Tech sinks local market, Commonwealth Bank profit up, Bitcoin ETF launches

    The technology sector all but sunk the local market today with the S&P/ASX200 sinking 1.8 per cent on the back of an 8.2 per cent fall in the sector. Every other sector was lower, with energy and real estate down more than 2 per cent and financials outperforming by falling just 0.8 per cent. Just…

    Drew Meredith | 13th May 2022 | More
    Market rallies off lows, Asia turns, Magellan hires new CEO

    The domestic market managed to eke out a small gain, recovering from as much as 1 per cent down to send the S&P/ASX200 0.2 per cent higher on Wednesday. Positive signs from Asia, including a broadly expected jump in Chinese inflation contributed to the settling of nerves with the materials sector recovering 0.9 per cent….

    Drew Meredith | 12th May 2022 | More
  • Local stocks fight back, weight of numbers push market lower, Pendal’s surprise

    The local sharemarket followed global markets lower, with the S&P/ASX200 opening as much as 2.5 per cent lower. The day’s trade was a story of the weight of numbers, with every sector barring communication finishing lower, but more companies gaining than falling. The size and scale of weakness in energy and commodities, down 2.1 and…

    Drew Meredith | 11th May 2022 | More
    Stocks down as China extends lockdown, property, tech selloff, Westpac reports

    There are few signs that the global selloff is slowing down, with a weak US lead on Friday contributing to another 1.2 per cent fall on the S&P/ASX200. The threat of higher interest rates and inflation are now been compounded by news that the Chinese government had extended lockdowns in key capital cities potentially adding…

    Drew Meredith | 10th May 2022 | More
  • Selloff worsens, every sector lower, tech slumps, Macquarie delivers bumper profit

    The local market closely followed the global lead with the S&P/ASX200 experiencing its worst session since Russia invaded Ukraine. All 11 sectors of the market were lower with technology and real estate the hardest hit, down 4.5 and 3.4 per cent for the day, whilst consumer staples naturally outperformed, falling just 0.2 per cent behind…

    Drew Meredith | 9th May 2022 | More
    First day of new interest-rate environment was a slight downer for Australian share market.

    The first day of a new interest-rate environment was a slight downer for the Australian share market, with the benchmark S&P/ASX 200 easing 11.5 points, or 0.2 per cent, to 7304.7 points. The gauge has lost 1.8 per cent this week, to be down 1.9 per cent since the start of the year.  The S&P/All…

    Drew Meredith | 5th May 2022 | More
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