Aussies shares fall on US chaos, mining slump
The fallout from the CrowdStrike global tech outage and US President Joe Biden’s decision not to run again have helped push down the Australian sharemarket on Monday.
The fallout from the CrowdStrike global tech outage and US President Joe Biden’s decision not to run again have helped push down the Australian sharemarket on Monday.
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A run-up in Aussie shares came to a halt on Friday, with a Wall St rout and mining sell off pushing the market into a sea of red.
The Australian sharemarket lifted on Wednesday on the back of a rising Wall St bull run.
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The local benchmark sank in its final session of the year, as investors looked to lock in some profits to cap off a solid December run.
Australian shares continued to advance on Thursday as a rally in the materials sector pushed the benchmark to close just 14.6 points below its record high.
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In its first trading session after Christmas, the share market rallied on Wednesday as iron ore miners tracked gains in commodity futures.
Despite gains in energy and real estate stocks helping to offset a drag in consumer staples, the sharemarket finished flat on Friday.
The local share market lost ground on Thursday, as profit taking by traders led to a sell off in technology and real estate stocks.
Australian shares advanced on Wednesday, as a record breaking session on Wall Street helped propel the local market to just 1.2 per cent below record levels.
The Aussie share market climbed to its highest level since February 10 on Tuesday, as material and energy stocks helped drive the benchmark higher.
While the Australian share market lost ground on Monday, led by a fall in real estate stocks, billions worth of deals were lobbed or closed.
Original URL: https://www.dailytelegraph.com.au/business/markets/australian-dollar/page/24