Daily Market Update

Earnings season and the need to keep a weather eye on the US inflation print competed for influence on the Australian share market on Tuesday. By the close the benchmark S&P/ASX 200 gauge had added 13.1 points, or 0.2 per cent, to 7,430.9, while the broader All Ordinaries index gained 14.1 points, or 0.2 per…

The benchmark S&P/ASX200 index eased 15.9 points, or 0.2 per cent, on Monday, to a three-week low of 7,417.8. The broader All Ordinaries fell 16.6 points, also 0.2 per cent, to 7,614.5, as earnings season moved into full swing. Electronics retailer JB Hi-Fi reported an 8.6 per cent lift in sales to $5.3 billion for…

The local market dropped 0.8 per cent on Friday, taking the weekly loss to 1.7 per cent and the lowest level for three weeks. The biggest driver was a heavy retreat in coal stocks after thermal coal prices fell by more than 5 per cent, taking the price per tonne down 50 per cent from…

The benchmark S&P/ASX 200 Index fell 39.8 points, or 0.5 per cent on Thursday to 7490.3; while the broader All Ordinaries index dropped 44.7 points, or 0.6 per cent, to 7695.8. Energy was in the spotlight, with the Mike Cannon-Brookes-backed AGL Energy plunging 82 cents, or 10 per cent, to $7.12 after the company downgraded full-year earnings guidance, cut its dividend and reported…

The benchmark S&P/ASX200 index on Wednesday advanced 26 points, or 0.4 per cent, to 7,530.1, while the broader All Ordinaries closed 27.4 points to the good, also 0.4 per cent, at 7,740.5. Goldminer Newcrest added another 65 cents, or 2.6 per cent, to $25.60, taking its gain to almost 14.5 per cent since it received a $24.5 billion takeover offer from US…

The local sharemarket copped its biggest fall in five weeks on Tuesday after the Reserve Bank of Australia (RBA) delivered a ninth consecutive rate rise, and for good measure, poured cold water on hopes of an imminent pause in its tightening cycle. RBA governor Philip Lowe warned that further increases will be needed in the…

The Australian share market eased on Monday ahead of today’s Reserve Bank of Australia meeting, with many in the market convinced that the central bank will hit borrowers with an interest rate hike of 0.4 per cent, although the most likely outcome of the meeting is still seen as a standard 0.25 per cent rise….

Australian shares ended a five-day winning streak on Wednesday, and the Aussie dollar rose, after the markets learned that inflation in Australia had risen to its highest point since 1990, at an annual rate of 7.8 per cent in the December quarter, beating economist forecasts of 7.6 per cent. Even the Reserve Bank’s preferred measure of “trimmed mean…

Upgrades in expectations for lithium price growth helped to lift the Australian sharemarket on Tuesday, driving a strong day for miners. Broker UBS lifted its lithium price forecast as much as 50 per cent, and the lithium players saw plenty of green. Pilbara Minerals gained 25 cents, or 5.2 per cent, to $5.08, while fellow producer Allkem was up…

The S&P/ASX 200 continued its strong early-2023 form on Monday, advancing 5.1 points, or 0.1 per cent, to a fresh nine-month high of 7457.3 points. The broader All Ordinaries index added 7.9 points to 7,674.2. It has been quite some time since the buy now, pay later (BNPL) stocks were on a tear, but the former darlings turned the clock…

The local market managed to finish what appeared a mixed week on a positive note, gaining 0.2 per cent. Powered by the energy and materials sectors, up 1.4 and 0.9, on news of higher iron ore and oil prices, the S&P/ASX200 managed a 1.7 per cent gain for the week. Whitehaven Coal (ASX: WHC) was…

The local share market advanced to a fresh eight-month high on Thursday after weaker-than-expected jobs data showed the Australian economy slowing, raising expectations for less aggressive rate hikes from the Reserve Bank. The benchmark S&P/ASX200 index closed on Thursday up 41.9 points, or 0.6 per cent, to 7,435.3, its best level since April 22. The broader All Ordinaries gained 38.9 points,…