ASX shakes off tariff fears
The Australian share market has been boosted on Monday from strong figures out of China and a resilient Wall Street.
The Australian share market has been boosted on Monday from strong figures out of China and a resilient Wall Street.
The local stock market tanked on Friday on the back of a Wall St bloodbath and a new Trump tariff threat that sent the big miners into a tailspin.
Market heavyweights Coles, Qantas and Medibank soared on the back of a better than expected reporting season, helping the local sharemarket on Thursday.
Supermarket giant Woolworths and the major miners have sent the Australian share market down to a new six week low on Wednesday.
The ASX 200 fell on Tuesday as US President Donald Trump confirmed tariffs and major businesses missed the mark during reporting season.
Commonwealth Bank boss Matt Comyn has backed cash, saying his bank will provide it to customers even as customers preferences change.
Domino’s Pizza has swung to a loss in the first half of the year as the pizza maker announces plans to simplify the business.
The ASX200 snapped a five day losing streak, but cracks are still appearing as more companies are missing the mark this reporting season.
Australia’s sharemarket finished in the red on Friday as consumer discretionary and financials continued to weigh on the local market.
The major banks and miners continued to slump on Thursday, dragging the Australian share market to its lowest point in five weeks.
It’s only going to get worse for Aussie savers already on their knees after the Reserve Bank’s decision to cut interest rates.
The ASX’s weekly woes continued on Wednesday, as a big four bank and a major miner dragged the market heavily into the red.
Original URL: https://www.couriermail.com.au/business/markets/australian-dollar