Markets

Energy and mining stocks are lifting the market higher on Wednesday. The ASX 200 is up 22 points or 0.4% to 6,017. March quarter economic growth has come in slightly ahead of consensus forecasts.

The Aussie market has defied a strong lead from Wall Street and has given up some of yesterday’s gains with the ASX 200 slipping 0.3% to 6,005 points at lunch. Energy and materials stocks are weighing most on weaker oil & iron ore prices overnight.

Cash rate remains on hold at 1.5% for the 22nd consecutive month. Iron Ore prices down 1.3% on surplus concerns and Retail Food Group’s underlying profit expected to be $34.5 million, $20 million below market expectation.

US markets rose on Monday with news focussed in the technology sector. Shares in Apple up 0.8% after unveiling its iOS 12 operating system at a developers conference. Microsoft rose 0.9% after announcing a US$7.5 billion deal to buy GitHub Inc.

Local shares are firmer in early trade, boosted by gains in the financial and materials sector. The market has also been helped by a positive lead from Wall Street, which was buoyed by better than expected employment data on Friday.

US sharemarkets rose on positive news on the US economy, geopolitics and an easing of tensions in European politics. The Dow Jones finished higher by 219 points or 0.9%.

The ASX 200 has climbed 35 points or 0.6% to 6,025, lifted higher by strong gains from the banks & miners today. Bubs Australia shares jumped 7.2% after announcing a Chinese e-commerce deal which is expected to double its revenue.

The ASX is under pressure amid falls in the financial & telco sectors. US markets fell overnight after President Trump announced the US would start to impose previously announced steel & aluminium tariffs on Canada, Mexico & EU nations.

US sharemarkets fell on concerns that a trade war could be sparked by the US decision to impose tariffs on steel and aluminium imports. A weaker US oil price weighed on the energy sector. US Steel rose by 1.7%. The Dow Jones finished lower by 252 points or 1.0%.

The local sharemarket has capped off a choppy week in negative territory, weighed down by falls from the banks and telcos. The ASX 200 slipped 0.7% over the week, recording its third straight weekly fall.

The local sharemarket is lifting higher in early trade, helped by a positive lead from Wall Street and easing political tensions in Italy. The ASX 200 is up 0.5% to 6,010.

The local sharemarket has recouped yesterday’s losses, helped by strong gains in the energy, materials and telco sectors. The ASX 200 climbed 0.5% to 6,011.

European sharemarkets rebounded on Wednesday as investors took a closer look at the implications of the collapse of the Italian government.

The local sharemarket has been dragged down by a global rout which was sparked by political uncertainty in Italy. The ASX 200 closed below 6,000 points for the first time in five weeks.

Political instability in Italy has rattled global markets sending the ASX 200 below the 6,000 point mark. The index has lost 29 points or 0.5% in early trade to 5,983.

European sharemarkets fell on Tuesday. The key issue was the collapse of the Italian government and the likelihood of fresh elections

The looming Italian elections gives speculation to the prospect of Italy leaving the Euro. Galaxy Resources is the biggest improvement so far after having recently sold tenements to POSCO. Oil prices lower by around ~2% today.

Investors concerned by the possible effect of Italy’s next election with speculation of a referendum of their position in the EU. Retail Food Group and Galaxy Resources among the highest movers. Banks firmer while energy stocks were generally lower.

US sharemarkets were closed on Monday for the Memorial Day holiday. European sharemarkets eased on Monday as investors focussed on the Italian political crisis. Fresh elections are likely after the Italian President rejected the choice of economy minister proposed by the Five-Star and League parties coalition.

The local sharemarket has slipped 0.5% on Monday, as mining & energy stocks suffered heavy falls. The market has now closed weaker for the seventh time in the past eight sessions.

The local sharemarket is off to a weak start this week, held down by heavy falls in the energy and materials sectors. The ASX 200 is down 30 points or 0.5% to 6,002.

US blue-chip shares fell on Friday. A lower oil price weighed on the energy sector. The S&P energy sector fell by 2.6%. Investors continued to watch developments with the US-China trade dispute and the proposed US-North Korea summit.

US sharemarkets fell after US President Trump cancelled a planned summit with North Korean leader Kim Jong-un.

The Aussie market has fallen to its sixth loss in the past seven sessions with the ASX 200 dipping by 4 points or 0.1%. Commodity stocks weighed but gold miners performed well. WES lifted after agreeing to sell its struggling UK hardware business.

Investors are remaining on the sidelines on Friday following a weak lead from Wall St. Overnight, US President Trump cancelled a planned summit with North Korean leader Kim Jong-un.

The local sharemarket has shrugged off a positive lead from Wall St, with financial, energy and telco stocks weighing on the market. The ASX 200 has eased by 0.2% or 12 points in early trade to 6,127.

After being down 167 points, the Dow Jones finished higher by 52 points or 0.2%. The S&P 500 index rose by 0.3% and the Nasdaq index rose by 47.5 points or 0.6%.

The local sharemarket has gained just before the close, to finish up 0.10% – breaking a five-session losing streak. Real estate and consumer stocks outperformed, while financial, energy and miners were the main weights.

The local sharemarket has lost earlier gains, held back by heavy falls in the energy sector. Santos shares have plunged 9% after the company rejected a US$10.9bn takeover offer from Harbour Energy.

Shares in Santos dropped 8.4% on Wednesday after the oil and gas producer rejected a US$10.9bn takeover offer from Harbour Energy, and terminated talks with the US private equity firm. The local market declined for a fifth straight session.

The US markets failed to hang onto early gains following President Trump’s comments that a meeting with Kim Jong Un in doubt. Some progress made between US and China helped lift stocks early.

The ban on U.S purchasing of Venezuelan debt has plummeted oil production and put an upward pressure on oil prices. Cosmetics group BWX up by 40% on the back of a takeover bid.

The Aussie dollar has ended the day falling for the 4th consecutive day after 6 straight weeks of gains. Telstra is at a 7 year low, dropping 13% in the last 7 days after the widespread outage yesterday and last year’s profit warning.

US sharemarkets rose on Monday with investors encouraged by progress in US-China trade talks. There was also interest in merger and acquisition deals. The Dow Jones closed up by 298 points.

The ASX 200 is up 0.1% in early trade, as investors overcome a softer start to the week. Losses in financials & miners held the market back early on but strength in healthcare and utilities has lifted the market a touch higher towards lunch.

The local sharemarket has made a lacklustre start to the new trading week, finishing Monday’s session flat. Gains from the Healthcare and Utilities sectors were offset by losses in the Telco, Materials and Financial sectors.

US sharemarkets ended mixed on Friday. Shares in banks and chipmakers weighed on the broader S&P 500 index. But small cap stocks were in demand with the Russell 2000 index at fresh record highs.

The ASX 200 is down 0.2% in early trade, as investors dispose of financial, materials and telco stocks. The index is on track to post a weekly loss, snapping a six week rally.

After recording six straight weeks of gains, the local sharemarket retreated 0.5% this week. The local bourse was held back as four banks traded ex-dividend.

US sharemarkets fell on Thursday on doubts about whether the US and China would resolve their trade issues.