ASX closes up by 0.7%; Afterpay gains on bank approval; Woodside lifts on oil prices
ASX closes higher on energy and tech gains. Afterpay soars 4.8% after Block takeover gets approval, Woodside lifts on oil prices and Irongate rejects 360 Capital bid.
Welcome to the Trading Day blog for Wednesday, January 12. The ASX rebounded from a two-day fall amid stronger offshore markets. The Energy and IT were sectors led gains with Woodside up 4.1% after Brent crude oil rose 3.5% and Afterpay up 4.8% after Spanish approval for its merger with Block Inc.
The S&P/ASX 200 closed up 0.7% at 7438.9 after hitting a 3-day high of 7467.5 as offshore equities and oil prices surged after Fed chief Jay Powell calmed investors on the rate outlook after a string of losses tied to hawkish FOMC minutes.
US stocks closed higher with the Dow Jones gaining 0.5 per cent, the S&P 500 climbed 0.9 per cent and the Nasdaq soaring 1.4 per cent.
World oil prices recovered. The US Nymex crude price added 3.8 per cent to $US81.22 a barrel.
Bitcoin, the world’s most popular cryptocurrency, rose above $US42,000.
Iron ore is up 2.5 per cent to $US128.60 per tonne.
ASX ends flat with CSL the main drag
The local share market closed flat as CSL dives after its results, Macquarie jumps on its trading update, gold miners up as gold hit a record, SGH soars on strong results, Nine, Seven West Media up on positive signs for advertising. Australian carveout on Trump tariffs 'under consideration'.
ASX 200 down as Trump tariffs loom; tech sector hit
Steel, aluminum producers mixed after latest Trump tariff threat. Is JB Hi-Fi topping out? Car Group, JB Hi-Fi and WiseTech leading losses. In contrast, Star and Ansell find support.