ASX down as tough reporting season wraps up
The Australian stock market slid into the red as the latest earnings reporting season wrapped up, with economists deeming it the weakest in many years.
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The Australian stock market slid into the red as the latest earnings reporting season wrapped up, with economists deeming it the weakest in many years.
Investors responded positively to full-year earnings reports from Bega, Woolworths and gold miner Perseus, pushing the market higher.
Utilities, banks and miners weighed on the Australian share market, which sunk into the red after starting the trading week with two straight days of gains.
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A strong lead from Wall Street saw the S&P/ASX200 burst out of the gates, almost reaching the key 6200 point mark before pulling back to close 0.5 per cent higher.
The benchmark S&P/ASX200 Index closed within the narrow range it has been stuck in all week, not once piercing the key 6200 point mark.
The Australian share market snapped a two-day winning streak to close in the red, weighed down by banks, miners, health stocks and profit taking.
Healthcare sector giant CSL played a big role in lifting the Australian share market after booking higher full year profits and flagging a potential vaccine for coronavirus in mid-2021.
A revised economic forecast by the Reserve Bank sent the Australian sharemarket lower, with miners among those sold off.
Daily coronavirus numbers in Victoria and NSW are playing a big role in Australian investor sentiment, analysts say, as the local market closes higher.
Record COVID-19 cases in Victoria and US-China tensions weighed on Australian investor sentiment today but gold shares climbed.
The Australian stock market has finished higher amid buoyant commodity prices and a degree of “irrational optimism” among investors.
The Australian share market lifted on Tuesday thanks to the precious commodity but analysts warn its value is linked to dire forecasts.
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THE Australian share market looks set to open higher with Wall Street offering a positive lead despite some of its earlier strong gains ebbing closer to the close.
THE Australian share market looks set to open firmly in the red without any lead from Wall Street and only a negative one from Europe and Britain.
THE Australian share market looks set to open around 1.5 per cent lower after Wall Street’s key index again take a painful tumble.
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Original URL: https://www.news.com.au/topics/asx/page/33