Daily Market Update

The S&P/ASX200 managed to start the week on a relatively strong footing with corporates awakening from their slumber to deliver some first half updates. The energy and retailing sectors were the highlights on Monday, gaining 1.4 and 2.2% respectively. The biggest influence on the market was Wesfarmers (ASX: WES) which gained 2.6% despite delivering a ‘difficult’ trading update. Management reiterated their…

Rates send markets lower, Magellan loses ‘material’ client, gold miners shine The local market benefitted from a strong overseas lead but managed to deliver a gain of just 0.1 per cent on Friday. The technology sector continues to be the largest drag, falling 3.9 per cent for the day and 4.5 per cent for the week, with energy…

Market weaker despite positive lead, unemployment falls, CSL down on acquisition The S&P/ASX200 (ASX: XJO) didn’t follow global markets higher, finishing down 0.4 per cent as CSL (ASX: CSL) dragged both the healthcare sector, down 5.1 per cent and the market lower. The reason was the completion of their capital raising at an 8 per…

Tech pulls market lower, deals galore across travel, property sectors  The technology sector once again dragged the market lower, falling 2.6 per cent and pulling the market down 0.7 per cent along with it. The biggest detractors were Afterpay (ASX: APT) and Zip Co (ASX: Z1P) which fell 3.1 and 6.9 per cent respectively as the flood out of high…

ASX gains on materials, real estate sector upgrades, Ramsay goes back to basics The S&P/ASX200 (ASX: XJO) managed another strong opening, gaining 0.4 per cent on Monday, ahead of the summer holiday slowdown that typically occurs. The energy, mining and real estate sectors were the biggest contributors to the rally with Charter Hall (ASX: CHC) gaining 5.6 per cent, BHP (ASX: BHP) 2.7 per…

ASX losing run snapped, Fortescue CEO leaves, gold miners outperform The S&P/ASX200 managed to snap a four-week losing run to post a 1.5 per cent gain over the week.This was despite falling 0.4 per cent on Friday ahead of an all-important inflation print in the US. Shares in Fortescue (ASX: FMG) fell 0.8 per cent after CEO Elizabeth Gaines announced she would be…

 Markets couldn’t overcome weaker sentiment today, initially trading higher but ultimately falling 0.3 per cent and breaking the 2 per cent gains in recent days. Only two sectors posted positive returns, being utilities and healthcare, which gained 0.4 and 0.2 per cent respectively with the rest falling into negative territory. The worst was the energy sector, down 1.1…

Market surge continues, Magellan founder speaks, Telstra dominates The S&P/ASX200 (ASX: XJO) continued its positive run, gaining another 1.3 per cent with every sector of the market finishing higher. The standouts were the technology, communications and materials sector, which all gained 2.1 per cent. The buy now pay later companies finally saw a reprieve, with Zip Co (ASX: Z1P) topping the…

ASX records third straight gain, RBA holds rates steady, Zip surges on update Positive news from the White House on the severity of the Omicron variant supported another surge in the S&P/ASX200 (ASX: XJO), which gained 1 per cent, taking the winning streak to three straight days. Consumer-facing companies, particularly travel stocks, lead the way with the sector up 1.6 per cent, slightly…

BNPL rout sinks market, Boral sells fly ash, Bapcorp chief out The S&P/ASX200 (ASX: XJO) managed to eke out a tiny gain of just 4 points on Monday overcoming a mixed overseas lead. This was despite significantly selling pressure facing the technology sector, but more specifically Buy Now Pay Later groups including Afterpay (ASX: APT) and Zip Co (ASX: Z1P). The sector fell 2.2 per cent…

Positive finish to volatile week, Novonix tanks, CSL lining up big deal An increasingly volatile week finish on a positive note, with the S&P/ASX200 (ASX: XJO) gaining 0.2 per cent on Monday, trimming the weekly loss to just 0.5 per cent. The famous Sohn Hearts & Minds Conference attracted all the attention with Berkshire Hathaway founder Charlie Munger delivering some scathing commentary. On Friday…

Market flat despite weak global lead, Woolies trumps Wesfarmer’s, Macquarie’s gain The S&P/ASX200 (ASX: XJO) continues to oscillate between winners and losers, with the losers directing the market today. The technology sector dragged the market 0.2 per cent lower as it fell 3.2 per cent during the session. The biggest detractor was Afterpay (ASX: APT) which is facing a challenge to the Square (NYSE: SQ) takeover…