Australian shares are sliding in the final trading hours, continuing a tough start to the year due to traders unwinding last month's market rally. This decline can be attributed to traders selling off shares, continuing the trend from the previous month's sharemarket rally. The S&P/ASX 200 is down 0.5%, with all sectors trading lower. Energy stocks initially boosted the market but have now fallen to a 0.01% loss.
Kali Metals, a lithium hopeful, has stood out by surging around 75% from its IPO price of 25¢ per share. Uranium stocks like Boss Energy and Paladin Energy are performing well, possibly influenced by the UK's plans for a high-tech nuclear fuel plant.
Stronger-than-expected US jobs data has raised doubts about the timing and extent of future interest rate cuts by both the Federal Reserve and the Reserve Bank of Australia. This has led to a reduction in expected rate cuts in 2024. In stock news, GQG Partners saw a 0.7% increase, Red 5 rose by 3.6%, Metcash appointed a new CEO for Total Tools Holdings, and Whispir's stock declined by 2.7% following a board decision favoring a buyout bid from Soprano over Pendula in the communications technology sector.
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11 March 2021 - It has been a mixed day for the ASX. After lifting at the open, the market retreated then rose into positive territory after lunch and lost its early gains on the back of Australia's Health Secretary Brendan Murphy advising that the target of Australians receiving their second dose of the Covid-19 vaccine by the end of October is likely to be missed. As for the sectors, we saw improvements in the Consumer Discretionary and Industrial...
06 May 2020 - The ASX dropped at the open and is now tracking 1.1% lower at noon. Nearmap (ASX:NEA) shares are on the rise as are Domain Holdings (ASX:DHG). The Australian dollar has risen to US64.33 cents. As for the sectors, utilities are up and financials, down. ALS (ASX:ALQ) reports less than 10% of their global laboratory network has been adversely impacted by shutdowns due to COVID-19.
29 Mar 2021 - Mid morning trade saw a drop for the ASX and it failed to recover. At the closing bell the S&P/ASX 200 index closed 25 points lower, or 0.4 per cent lower to finish at 6,800. Treasury Wine Estates (ASX:TWE) acknowledges the release by China’s Ministry of Commerce of the final determination in its anti-dumping and countervailing investigations into certain Australian wine exports into China.
29 Sep 2020 - The ASX looks set to open higher this morning as global equities rose overnight. Banks did well as they pushed the lead. In the US, Boeing nudged the Dow higher. Frankfurt closed over 3% higher. Tilt Renewables (ASX:TLT) now has all 80 turbines erected at Dundonnell Wind Farm in Western Victoria.
11 Oct 2022 - Stocks declined on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares, which are sensitive to interest rate hikes, continue to be the hardest hit in this bear market. Shares of semiconductor companies fell overnight, with the industry selling off globally after fresh US curbs on China’s access to American technology added to a disappointing start to the earnings season, stoking concern that the industry's downturn is...
10 Jul 2020 - After a shaky day of trade the Australian market closed 0.6% lower. UBS has downgraded Treasury Wines Estates (ASX:TWE) from a Buy to a Neutral, with a 12 month price target of $11.80.
03 Aug 2020 - After a sharp decline this morning due to a slump in the big banks, the market recovered just before midday lifted by health care and gold producers but and flatlined until the closing bell. The market is unsettled amid stricter restrictions for South Australia announced this afternoon, which comes as more cases emerge, and as Victoria enters a tougher lockdown. Magellan Financial Group (ASX:MFG) announced it plans to consolidate its three core global equities trusts...
27 Mar 2020 - Positive leads from US markets mean we are set to see the ASX open higher this morning. All three major benchmarks on Wall Street closed sharply higher yesterday ignoring the US jobless claims surging to more than 3 million in the latest week. Westgold Resources (ASX:WGX) says all of their process plants are operating at full capacity, thanks to the multitude of ore sources Westgold has in the Murchison region.
31 Oct 2023 - Stocks rallied on Monday, with the S&P 500 ending the day out of correction territory, as traders kicked off a big week filled with a Federal Reserve rate decision, jobs report and Apple’s earnings.
04 Sep 2020 - The Australian share market plunged in early trade, dragged down by Aussie tech stocks and tracked sideways for most of the day to finish 3.1 per cent lower. Tech stocks shed 5.6 per cent today and every sector lost 1.7 per cent or more. Meanwhile, iron ore continues to trade at 6-year highs. Macquarie expects vehicle leasing and salary packaging company, Eclipx Group (ASX:ECX) to outperform, assigning it a 12 month price target of $1.70.
