Tech shares, banks caught in inflation chaos
A higher-than-expected inflation print sent investors scurrying from growth names and financial stocks, but there was still some bargain hunting.
A higher-than-expected inflation print sent investors scurrying from growth names and financial stocks, but there was still some bargain hunting.
Prime Minister Scott Morrison is sweating over potential interest rate hikes as inflation spikes to its highest level in more than two decades.
Bleak new modelling suggests the status of Australia’s second-biggest money spinner is under “imminent” threat from China.
Mining and energy companies helped the Australian sharemarket continue its march towards record highs on the other side of the Easter break.
The nation’s central bank left some economists scratching their heads on Tuesday after dropping another clue on the timing of interest rate hikes.
ASX travel names surged into the Easter break following a pleasing set of financial results for a US contemporary.
Energy and material stocks were strong on Wednesday as ASX investors were encouraged by higher commodity prices and “peak inflation” sentiment in the US.
Technology, health and payment stocks were bloodied on Tuesday as inflation jitters sent ASX investors fleeing from growth names.
The Australian sharemarket faded throughout the day as unexpected Chinese inflation data and a Covid-related economic slowdown cast a shadow over regional indices.
Global investment bank UBS has said the appreciating Australian dollar should not be seen as a threat to the economy.
Technology shares took another beating on Thursday as the prospect of steeper rate hikes home and abroad spooked investors.
The negative market momentum triggered by Tuesday’s RBA statement carried into a new session for ASX investors, with the local bourse having its worst day in three weeks.
A hawkish pivot from the Reserve Bank sent investors fleeing to the benches on Tuesday as the Australian sharemarket’s early progress melted away.
The Australian sharemarket started the week on the front foot, with a host of mining names performing strongly.
The Australian sharemarket is tipped to start the week in positive territory, even as energy majors and gold miners threaten to temper any gains.
Friday heralded another narrow loss for the ASX 200, even as mining titans BHP, Rio Tinto and Fortescue Metals continued their meteoric rise.
Two of Australia’s biggest banks have continued to hike fixed interest rates, piling on more pain for borrowers.
The mining titans were strong on Thursday, but not strong enough to drag the Australian sharemarket to an eighth straight session of gains.
The Australian sharemarket hit new 11-week highs on Tuesday as investors salivated over the prospect of a market-friendly federal budget.
A surging technology sector and a solid performance by the major banks lifted the Australian sharemarket to fresh highs on Wednesday.
The Australian sharemarket powered to a gain of almost 1 per cent on Tuesday, hitting its highest level in two months, as mining and energy companies enjoyed a significant rise.
Investors started strongly but clearly got the shakes during Monday’s ASX session, with the local market sliding into the close.
The Australian sharemarket bounced for a second straight session on Thursday as a number of pleasing factors whet traders’ appetites.
Investors breathed a sigh of relief as inflationary pressures eased somewhat ahead of Thursday morning’s meeting of the US Fed.
The Australian sharemarket finished lower on Tuesday as the heavyweight mining and energy sectors copped a beating from plunging commodity prices.
The ASX was dragged lower by bank stocks but the group known as the ‘millionaire’s factory’ bucked the downward trend.
The Reserve Bank governor has told a federal government committee why the central bank is resisting a hike in interest rates.
China’s crippling tariffs on Australian wine are creating major challenges with producers quickly trying to pivot away from the economic cash cow.
The ‘overheated’ ASX has taken another breather, while the bizarre US GameStop saga unexpectedly boosted an Aussie business.
The ASX suffered its biggest daily tumble in four months after Wall Street fell sharply overnight, with few stocks in the green.
The Australian share market has finished the day slightly up after a shaky trading day which was fuelled by stimulus prospects in the US.
Financial markets have overlooked the turmoil unfolding in the US, finishing the first week of the New Year in positive territory.
The Australian sharemarket has ended the day stronger, riding the Democratic win in the Georgia election runoffs.
The local sharemarket has recovered from an early sell-off sparked by Senate election jitters in the US.
A popular Australian jewellery retailer has been forced to close its UK stores due to a new lockdown sparked by a surge in COVID-19 cases.
Australia’s stock market dropped to its lowest point in three weeks following a global share sell-off sparked by the new, mutated strain of COVID-19.
The ASX closed slightly lower due to shakier sentiment amid the growing coronavirus cluster in Greater Sydney.
The ASX has accepted the blame for a technology meltdown that caused massive disruptions to Australian sharemarkets.
Positive news of a promising coronavirus vaccine has prompted an ongoing sharemarket surge with local stocks hitting eight- month highs.
The Royal Australian Mint has launched a new commemorative $2 coin to honour the nation’s brave firefighters after the devastating bushfires.
Australian stocks ended Monday’s trading day on a seven-month high, despite weaker than expected figures coming out of China.
A hopeful US stimulus package has prompted an upbeat end for Thursday’s local trading day, with Australian mining shares rallying.
The Australian share market has tumbled as global coronavirus fears dent confidence and fuel a rise in economic and political uncertainty.
A cautious outlook for the property market has caused the Australian sharemarket to slip, with major banking shares taking a tumble.
A subtle change in wording by the Reserve Bank could signal a rate cut is on the cards, one of Australia’s leading economists says.
The Australian sharemarket has ended the local session stronger as resuming vaccine trials rallies global economic confidence.
The S&P/ASX200 index has closed in negative territory, snapping a two-day winning streak. One sector in particular led the declines.
The Australian share market closed lower on Wednesday as newly imposed border restrictions sparked concerns of a second national coronavirus lockdown.
The local sharemarket has ended the day higher, shaking off fears of last week’s escalating trade war fears between China and the US.
Australian shares end higher on Thursday despite confirmation from government the federal Budget was in its worst shape since World War II.
Original URL: https://www.heraldsun.com.au/business/markets/australian-dollar/page/7