Daily Market Update

Nasdaq rally, NZ travel bubble, merger activity sends market higher The ASX200 (ASX:XJO) followed a strong US lead on Tuesday, adding 0.8% with the industrials and IT sectors the key drivers. The risk-on mood boosted Afterpay Ltd (ASX:APT) by 10% and competitor Zip Co (ASX:Z1P) by 9.1% after what has been a difficult few months for the BNPL companies. By far the…

Second quarter off to strong start, AMP’s CEO departs, Boral announces buyback The ASX200 (ASX:XJO) finished the week and commenced the new quarter on a strong note, finishing 0.5% higher with both IT, up 2.3%, and materials, 1.3%, contributing. It was a day for stock specific news with the worst kept secret in finance being confirmed, AMP’s CEO Francesco…

ASX positive, Zip Co (ASX:Z1P) teams up with JB HiFi, building approvals heat up The ASX200 (ASX:XJO) posted another positive day as the quarter comes to an end, finishing 0.8% higher. Whilst a positive headline, the market fell heavily into the close, down around 1% in the last hour of trading. This resulted in another 1.8% gain…

Market down as Brisbane locks down, AGL to split, USD rallies  The ASX200 (ASX:XJO) finished 0.9% lower after the Queensland Government announced a lockdown amid surging virus cases in Brisbane and surrounding areas. The retail sector was hit hard, falling 1.4%, as the likes of Flight Centre (ASX:FLT), -1.8% and Webjet (ASX:WEB), -2.0%, were hit with cancellations of Easter travel plans. The…

Brisbane lockdown hits ASX, Afterpay (ASX:APT) falls to three month low, travel stocks struggle The ASX200 (ASX:XJO) gave up a strong opening on US stimulus, ultimately finishing 0.1% lower after the Queensland Government announced a three-day lockdown of the city after community transmission of the UK COVID-19 variant was confirmed. The retail sector fell on the news, with Webjet (ASX:WEB)…

ASX up 1.7% for the week, all action at the CEO-level of AMP and TPG, battery stocks on the charge  The ASX200 (ASX:XJO) finished the day 0.5% higher, with every sector but healthcare delivering a positive return. Telecommunications and IT were the highlights, finishing 1.3% and 1.2% higher, with a 2.4% jump in Telstra (ASX:TLS) offsetting a 6.7% fall…

ASX delivers a gain, AMP CEO to resign, wealth platforms take a major hit  The ASX200 (ASX:XJO) managed to register a slight gain, finishing 0.2% higher behind strength in the banking and healthcare sectors, with National Australia Bank (ASX:NAB) up 0.5% and CSL (ASX:CSL) 1.4% amid a search for quality. The news of the day was the rumoured departure of ‘saviour’…

ASX powers ahead, lower bond yields, records broken at Premier (ASX:PMV)  The ASX200 (ASX:XJO) delivered once again, pushing higher with falling bond yields and a finally weakening currency, which is now under 76 US cents. The much-anticipated release of the economic Purchasing Manager Index or PMI results, which offer an indicator of spending and investment intentions, hit…

ASX falls late, AGL (ASX:AGL) seeking battery approval, coal prices boosted by floods The ASX200 (ASX:XJO) fell into the close ending 0.1% lower, with the materials sector the biggest detractor falling 1.5%. The selling pressure came after one of the key Chinese smelting cities announced curbs on steelmaking operations as they seek to address environmental concerns. This sent…

ASX finished 0.7% higher, Crown (ASX:CWN) under offer, Fortescue (ASX:FMG) tanks The ASX200 (ASX:XJO) overcame a weak global lead to break a three day losing streak, adding 0.7% on Monday. Every sector was higher barring materials, with Fortescue Metals (ASX:FMG) dragging the sector lower, falling 4.3% on a further weakening of the iron ore price. Energy was by far the highlight,…

ASX sinks to first loss in a month, retailers powering ahead, materials weaker The ASX200 (ASX:XJO) finished the week on a negative note, falling 0.6%, delivering the first weekly loss in over a month, down 0.9%. It seems the number of divergent outcomes for 2021 is increasing by the day, with talk of an inflation spike, countered…

ASX continues to weaken, unemployment surprises, NZ nearing second recession The ASX200 (ASX:XJO) finished another 0.7% lower on Thursday, with every sector but miners and retailers falling. Amongst the biggest detractors were the Commonwealth Bank (ASX:CBA) and CSL Ltd (ASX:CSL), down 1.6% and 1.9% respectively. The sell-off came despite what appears to be great news for the economy; the unemployment rate…