MARKET AT MIDDAY The Australian share market, bounced back after a drop last week. The market opened with up 0.5%, driven by the materials and energy sectors. Mining stocks rose by 1%, with gold producers De Grey Mining (DEG) +3.2%, Regis Resources (RRL) +4.1% and Newcrest Mining (NCM) +1.4% experiencing notable gains. Iron ore giants BHP Group (BHP) +0.2% and Fortescue Metals (FMG) +0.1%, also saw positive movement. GQG Partners (GQG),rose 3.1% after…
ASX 200 closed down 38 points to 7004 (-0.5%) after a jump of 42 points at the opening bell, rebounding from last week’s sell-off before the market turned lower on weak consumer inflation data from China. Gold outperformed today, tracking an uptick in bullion prices. NST and NCM up 1.8% and 1.1%, respectively. Energy stocks…
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MARKET AT MIDDAY The ASX experienced a broad sell-off, with the ASX 200 dropping 114 points to 7049 (-1.6%) as shares of Block Inc (SQ2) tumbled 5.4%. Concerns over potential interest rate hikes by the US Federal Reserve and Reserve Bank, sparked by hotter-than-expected US jobs data, led to selling across all sectors. Fund managers hit the hardest, with Pinnacle Investment Group (PNI) down…
ASX 200 fell 121 points to 7042 (-1.7%). Another soggy end to the week. ASX 200 down 2.2% for the week. Losses across the board from the open, banks hit hard with the Big Bank Basket down to $168.52 (-1.5%) led lower by CBA down 1.7% and MQG down 1.3%. Insurers dropped despite a huge rise in…
US stocks closed lower overnight following July 4th Independence Day holiday as the market digests the latest FOMC meeting minutes, trade barriers from China and oil output cuts from OPEC+. The Dow Jones closed down 130 points (-0.38%). Dow at worst down 191 points. S&P 500 down 0.2% NASDAQ fell 0.18, and the VIX rose…
MARKET AT MIDDAY The ASX dropped 0.9% at the market open, with all sectors in the red, led by losses in the materials sector. Mining and energy stocks declined, while consumer discretionary stocks also performed poorly. Magellan Financial Group (MFG) saw a 7.2% drop in its shares due to outflows, while Square (SQ2) rallied 4.8%. The ASX 200 is down 71 points to 7182…
Blood on the streets on ASX 200 today, closing down 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes reaffirmed expectations that interest rates would remain higher for longer. Financials and miners weighed, with the big four banks losing between 1%-2%. The Big Bank Basket took a hit down to…
Global stock market trading was light overnight, with US markets closed for the Independence Day holiday. European markets muted in thin trading overnight, with indices ending around session lows. STOXX 50 -0.2% FTSE -0.1% CAC -0.2%, and DAX -0.3%. US equity futures flat with markets closed. Asian markets mixed overnight. Hang Seng led gains in China,…
