ASX 200 closed down 2 points to 7195, sinking from early gains after Retail sales show signs of resistance, coming in at 0.7% for May compared to 0.1% forecast. Consumer discretionary had an obvious boost from the higher retail numbers, EDV up 0.6%, DMP up 2.1%, and BBN jumped 7.4%. Banks continued to rally, ANZ…
MARKET AT MIDDAY The ASX rallied at the opening bell, climbing 43 points in the first 10 minutes of trade, tracking gains on Wall Street overnight, with Healthcare, Technology, and Consumer Discretionary stocks leading gains. At 11:31, the ASX 200 jumped 1% to 7,190 after inflation data came in cooler than expected at 5.6% in May, vs…
ASX 200 closed up 78 points to 7197 (+1.1%), boosted by cooler-than-expected inflation results. The Aussie dollar fell to 66.43c (-0.6%), and the 2Y and 10Y bonds took a hit following inflation results, before closing down 6bps and 5bps, respectively. Interest rate-sensitive sectors performed well. Consumer discretionary the best-performing sector today WES up 1.3%, JBH…
Wall Street closes higher overnight, ending near best levels. Dow Jones up 212 points (+0.63%). Dow at best up 261 points, snapping a six-day losing streak. Tech megacaps led the round, with the NASDAQ up 1.65% and the S&P 500 up 1.15%, halting a two-day drop. Upbeat economic data eased recession fears while the dollar…
Wall Street lost ground overnight, ending near worst levels as worries about the impact of further interest rate hikes mounted and crude prices advanced over aborted Russian mutiny over the weekend. Tech and mega-cap stocks led the losses as traders unwound bets that the Fed will cut interest rates this year, NASDAQ down 1.16%, and…
ASX 200 is up 41 points to 7120 (+0.6%) snapping a four-day losing streak supported by heavyweight financials and resource stocks. PointsBet Holdings (PBH) Trading halted pending material announcement. Vulcan Energy Resources (VUL) +0.9% Signs a binding term sheet with SLB for its Zero Carbon Lithium Project. Immutep (IMM) -0.9% Completes a retail entitlement offer, raising $6.5m at 26c. Nib Holdings (NHF) -1.6% Delays private…
The ASX 200 up 40 points to 7118 (+0.6%) snapping back from a 4-day losing streak ahead of CPI numbers tomorrow. REITS saw the biggest gains today as the NSW premier announced an increase in height restrictions for apartment building in Sydney. GMG up 1.2% and SCG up 4%. Banks gained after their recent drop…
The main event this week is Australia’s monthly CPI data out Wednesday. The last reading of 6.8% in April surprised the market, up from 6.3% in March, which was the lowest reading in 10 months, significantly exceeding market expectations of 6.4%, which led to a 25bps rate hike by the RBA in June. May CPI…
ASX 200 is down 20 points to 7079 (-0.3%) as the market continues to fall although it has steadied slightly. Gold miners and oil and gas in focus following Russian issues. TODAY’S STORIES Metcash (MTS) – Announced a 4.7% increase in its fully franked dividend for FY23, declaring 22.5cps. The company's revenue has also grown by…
