Evening Report: Market Ends Week In Red
The Australian sharemarket tumbled by 1.16% on Friday, wiping out all this week’s losses in one fell swoop. IAG fell by 7.8% after flagging no final dividend for the first time in 20 years.
Read MoreThe Australian sharemarket tumbled by 1.16% on Friday, wiping out all this week’s losses in one fell swoop. IAG fell by 7.8% after flagging no final dividend for the first time in 20 years.
Read MoreWe continue to unearth small-cap companies as part of our Hidden Gems webinar series. Catch up on the most recent edition with presentations from Little Green Pharma, DEVEX Resources, Novonix, and Xtek.
Read MoreSilver is enjoying all the tailwinds gold prices are but just with a significant lag and even the run up in 2010 just shows how rapidly and just how far silver can run.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreThe ASX 200 is down by 1% at lunchtime following losses on Wall St and sellers gaining strength from a range of company updates that have reminded investors of the continuing impact of the Covid 19 crisis.
Read MoreInvestors reacted to a surprise lift in new claims for unemployment insurance. After releasing profit numbers, shares in Tesla fell 5.0% and Microsoft fell 4.4%.
Read MoreSelling in Microsoft post result sparked a general sell-off in Big Tech last night, dragging some but not all of Wall Street down with it. Dow down -353.
Read MoreWall Street fell, oil was weak but gold surged, again to within sight of its all-time high, and the highest settlement for the front-month contract ever.
Read MoreSouth Korea has joined the likes of the US, Japan, Thailand, Singapore, Germany, and other economies officially in recession as a result of the impact of COVID-19.
Read MoreYesterday’s economic update from the Federal Government had long been tipped by leaks and briefings to media and business, but the headline figures about huge budget deficits actually hide the real story.
Read MoreThe Australian sharemarket rose by just 0.3%, as the Treasurer’s budget update provided few surprises. Gains from Santos (STO), Newcrest Mining (NCM), Coca-Cola Amatil (CCL) and Tabcorp (TAH) helped.
Read MoreThe budget and associated debt blowout is unlikely to cause a major problem as public debt is relatively low, borrowing costs are very low, the Government is borrowing in $A’s & it’s not dependent on foreign capital. Letting the deficit rise is the right thing to do writes Dr. Shane Oliver.
Read MoreFNArena’s weekly update on short positions in the Australian share market
Read MoreBanks and miners are trading lower on Thursday hampering the efforts of the overall market. On Thursday after the Fiscal & Economic update saw Australian Treasury forecast a 2020-21 budget deficit of $184.5bn.
Read MoreBell Potter analyst William Gormly provides a summary of the ETF market in June and highlights BetaShares Global Cybersecurity ETF which provides exposure to a diversified portfolio of cybersecurity companies in the world.
Read MoreWall Street posted another modest gain last night, with the Nasdaq again underperforming, but aftermarket earnings releases were more interesting. Dow up 165.
Read MoreInvestors continue to fret about the rising number of COVID-19 cases. And not helping sentiment was an increase in tensions between China and the US.
Read MoreWhile the Aussie market surged 2.6% on Tuesday thanks to promising signs for a coronavirus vaccine and extension to government support, stocks fell heavily today as cases rose in Victoria.
Read MoreLocal shares fell heavily at lunch, with the ASX 200 down 1.1 per cent to 6,088.7, receiving an extra push lower following a record 484 new COVID-19 cases in Victoria over the past day.
Read MoreAhead of the Herd’s Rick Mills notes that while Trump’s and Biden’s infrastructure policies are very different, both increase demand for copper, silver and gold.
Read MoreAfter Monday night’s surge, the Nasdaq turned tail last night. Dow up 159.
Read MoreInvestor sentiment was buoyed by progress shown on three potential COVID-19 vaccines. And the European stimulus deal also boosted investor sentiment. Investors were also hopeful about a new US stimulus package.
Read MoreThe Aussie market had its best gain in five weeks, rising by 2.6% and hitting a six-week high in the process. This followed an extension to JobKeeper and JobSeeker payments, a massive European stimulus package and encouraging results for a COVID-19 vaccine in the UK.
Read MoreHovering around intraday highs, the ASX 200 has lifted by 1.1 percent to 6,068.9. While most sectors are improving, gains from tech stocks, financials, healthcare, and materials are standing out.
Read MoreThe spot uranium price fell incrementally last week for the eighth straight week, as Congress holds up a planned US strategic reserve.
Read MoreAfter a week of underperformance, the Nasdaq snapped back furiously last night, jumping 2.5%. Dow up 8.
Read MoreMonday saw the S&P500 index turning positive for the year and the Dow Jones index erasing a 167 point drop earlier in the trading session. Pfizer (+0.7%) and BioNTech (+3.5%) reported early positive data on a joint COVID-19 vaccine candidate.
Read MoreOnce again its Japan’s exports, not China’s that tell a lot about the real state of the global economic demand and its weak growth prospects.
Read MoreThe Australian market had an underwhelming start to the week, with the ASX 200 slipping by 0.5%. A lift in COVID-19 cases in NSW and VIC continues to keep some on edge. Stocks in airports, casinos, gaming groups and some retailers lost ground.
Read MoreThe Aussie share market is off to a slightly softer start on Monday following heavy losses from the banks. The ASX 200 is down 30pts or 0.5% to 6003. Big banks are down by ~1.2%, while gold miners & BHP keeping the losses to a minimum for the index.
Read MoreWe continue to unearth small-cap companies as part of our Hidden Gems webinar series. Catch up on the most recent edition with presentations from Selfwealth, Openlearning, Nanoveu, and Resapp Health.
Read MoreInvestors balanced the scope for more fiscal stimulus against the potential for more lockdowns. Shares in Goldman Sachs lost 1.5%, weighing on the Dow Jones index.
Read MoreNasdaq and the high flying US tech sector took a couple of worrying hits last week that was overshadowed by the expanding COVID-19 case number story here and offshore.
Read MoreMost major share markets rose over the past week as positive news on vaccines and mostly good economic data offset a continuing rise in new coronavirus cases. US shares rose 1.2% and Eurozone and Japanese shares gained 1.8%. Australian shares added 1.9%.
Read MoreAirlines, oil services, and some tech giants will dominate the second major week of the June 30 US earnings season. It’s early days in the June quarter earnings reporting season with less than 10% of S&P 500 companies reporting so far but there have been some better than expected results.
Read MoreCOVID-19 remains the dominant issue for global markets – the continuing surge in global and US coronavirus infections – the latter are running at more than 70,000 a day and heading higher, while over 14.2 million people have been infected worldwide.
Read MoreShares in Rio Tinto have edged higher after it revealed a solid quarterly and half-year performance for its key Pilbara iron ore business.
Read MoreDespite losing ground early in the day on record COVID-19 numbers in Victoria, the Australian sharemarket rose slightly this afternoon, adding to gains this week.
Read MoreThe Australian sharemarket has pulled back following a record number of new cases in Victoria and upgraded restrictions in NSW.
Read MoreA brief look at important company events and economic data releases next week
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