ASX rises as bank and tech stocks advance
Tech and financials push local shares higher for a second day running. Fortescue poaches RBA’s Debelle, Brookfield buys La Trobe Financial and Rio Tinto cuts Russia ties.
Matt Bell
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ASX ends losing streak; tech stocks jump
The local sharemarket rallies with all sectors gaining. Tsingshan backs Nickel Mines, Mesoblast and tech firms climb, Aristocrat quits Russia and NAB flags higher inflation.
Claims flow in from east coast floods
The Insurance Council says members have received 96,844 flood claims on the east coast, for an estimated $1.45bn. Almost all are for domestic property and vehicles.
ASX drops as miners sink; St Barbara surges
ASX slumps below 7000 as investors sell energy and mining stocks. St Barbara surges while Nickel Mines dives. Fortescue teams up with Airbus and Ampol quits Russian oil.
ASX falls; Qantas dives on oil surge
ASX lower as investors sell tech and health stocks. Qantas dives on oil surge as Woodside hits two-year high, AGL slips on rejected bid and Rio Tinto fined.
Proxies support Wesfarmers’ $760m API bid
All four of Australia’s influential proxy advisory firms have backed Wesfarmers’s $760m takeover bid for Priceline owner Australian Pharmaceutical Industries.
Magellan shares drop after $3.2bn outflow
Magellan Financial says it lost $3.2bn from funds under management since its last update in early February, pushing shares more than 10 per cent lower.
ASX gains 0.1pc; Block rockets as Magellan falls
ASX rises slightly, but ends the week lower. Block surges on update, Magellan slumps, Incitec Pivot flags $US100m hit, Kogan dives on loss and Harvey Norman rebounds.
ASX smashed in $73bn wipeout; oil, gold surge
ASX posts third worst fall in two years as Russia declares war on Ukraine. Qantas posts $1.27bn loss, Appen hammered amid profit drop, Cimic surges on takeover bid, while oil and gold jump.
CIMIC shares soar on Hochtief bid
Two decades after becoming the major shareholder, Hochtief is seeking all remaining shares in a deal valuing CIMIC at $8bn.
Original URL: https://www.theaustralian.com.au/author/matt-bell/page/102