ASX shakes off tariff fears
The Australian share market has been boosted on Monday from strong figures out of China and a resilient Wall Street.
The Australian share market has been boosted on Monday from strong figures out of China and a resilient Wall Street.
The local stock market tanked on Friday on the back of a Wall St bloodbath and a new Trump tariff threat that sent the big miners into a tailspin.
Market heavyweights Coles, Qantas and Medibank soared on the back of a better than expected reporting season, helping the local sharemarket on Thursday.
Supermarket giant Woolworths and the major miners have sent the Australian share market down to a new six week low on Wednesday.
It’s only going to get worse for Aussie savers already on their knees after the Reserve Bank’s decision to cut interest rates.
The ASX’s weekly woes continued on Wednesday, as a big four bank and a major miner dragged the market heavily into the red.
Aussies are tipped to be a little richer at the end January, as superannuation funds have a ‘flying start’ to 2025.
A slump in the big banks and energy stocks pushed the Aussie market into the red on Tuesday, as the RBA struck a note of caution following its long-awaited rate cut.
Unions and interest groups ratcheted up the pressure on the Reserve Bank ahead of its decision to cut interest rates.
Banks weighed on the ASX on Monday with disappointing earnings updates from Westpac and Bendigo Bank pushing the index to the red.
Competition among mortgage providers has spurred a big four bank to cut its variable interest rates ahead of tomorrow’s RBA decision on the cash rate.
Australia’s sharemarket continued its rally higher on Friday as traders factored in a more reserved Donald Trump on US tariffs.
Banks are cutting one particular offering as they gear up for the Reserve Bank of Australia to do the same to the cash rate.
The Aussie market finished at a new high on Thursday, helped by the listing of the mega Chemist Warehouse–Sigma Healthcare merged business.
Original URL: https://www.themercury.com.au/business/markets/australian-dollar/page/2