Daily Market Update

The local market managed another positive finish, gaining 0.4 per cent backed by an unexpected rally in the technology sector. Nine of the 11 sectors gained, with technology 2.1 per cent higher, with only real estate and financials detracting, down 1.1 and 0.8 per cent each. Shares in Netwealth (ASX: NWL) bucked the trend gaining…

It was another positive, but mixed, day for the local market with seven of the 11 sectors finishing higher and contributing to a 0.2 per cent gain. The dispersion between the winners and losers is beginning to narrow after an incredibly volatile period. On the positive side were the consumer and technology sectors, which gained…

The local market managed to overcome increasingly negative global sentiment ahead of an important US earning season that begins later this week, finishing 0.1 per cent higher. The stalwart blue chips were the standout with financials, consumer staples and healthcare increasing 0.7, 1.2 and 1.1 per cent respectively. The Commonwealth Bank (ASX: CBA) gained 1.2…

The Australian market couldn’t carry over a positive week for the US market, falling throughout the day to finish 1.1 per cent lower. There were very few highlights outside of the healthcare sector, which gained 0.1 per cent, while every other sector finished lower. Materials and technology continue to be hit on the back of…

It was a solid week last week for the Australian market, advancing on four of the five days. The S&P/ASX 200 gained 138.1 points, or 2.1 per cent, for the week, to end at 6,678, while the broader S&P/ASX All Ordinaries index added 156.6 points, or 2.3 per cent, to 6,877. The All Tech index…

The benchmark S&P/ASX200 index finished at the highs of the day on Thursday, up 53.5 points, or 0.81 per cent, to 6648.0. The broader All Ordinaries rose 52.6 points, or 0.78 per cent, to 6836.9. A 1.9 per cent rise in Singapore iron ore futures, to $US113.30 a tonne, helped the big miners, with BHP up…

A tech rebound – possibly a dead-cat bounce – tried to drive the Australian market higher on Wednesday, but the concerns on commodity prices more than outweighed this. By the close, the benchmark S&P/ASX 200 had shed 34.8 points, or 0.52 per cent, to 6,594.5, while the broader All Ordinaries surrendered 33.8 points, or 0.5…

As widely expected, the RBA raised the cash rate by 0.5 percentage points yesterday, taking it to 1.35%, as widely expected. This is the fastest back-to-back increase in rates since increases of 0.75% and 1% in November and December 1994 respectively. But the RBA remains upbeat on the economy and employment, despite remaining concerned about…

The Australian share market ended in the green on Monday, despite investor skittishness ahead of today’s Reserve Bank board meeting. The central bank is widely predicted to lift its cash rate by another 50 basis points today, which would take it to 1.35 per cent, in the intensifying effort to rein in surging inflation, which…

The Australian market started the session on a positive note, moving as much as 1 per cent higher on the first day of the new financial year but ultimately sank to a 0.4 per cent loss. The realisation that an interest rate-driven slowdown in the global economy may hit commodity demand saw both energy and…

The local market managed to deliver another strong day, the S&P/ASX200 finishing 0.9 per cent higher. Five sectors were lower, albeit only slightly, with consumer discretionary the biggest detractor on concerns that higher interest rates will cut disposable incomes. This sent the likes of JB Hi-Fi (ASX: JBH) and Zip Co (ASX: ZIP) down 3.9 and…

A positive lead from Wall Street, in which bad news on the economy became good news for stocks, resulted in the ASX gaining 1.9 per cent to begin the week. Every sector was higher, with energy and financials gaining 2.6 per cent each, buoyed by hopes that rate hikes may not be as aggressive as…