ASX rises as banks, tech rally
Interest rate sensitive stocks buoyed the benchmark on Thursday as softer-than-expected inflation data helped offset losses in the mining sector.
Markets
Banking stocks boost ASX 200
The heavyweight banking sector boosted the stockmarket, while the prospect of interest rate cuts also lifted consumer and technology stocks.
Apple set to lose crown of biggest company
After 538 days spent trading as the world’s most valuable company, losing this title is not the way the tech giant would want to start 2024.
Huge breakthrough for Bitcoin confirmed
Bitcoin exchange-traded funds (ETFs) have been granted approval to list on the stock market in the US, with the ASX set to approve its first Bitcoin ETF by mid-2024.
More Stories
Miners soften blow for share market
Soaring energy prices helped lift the ASX200 to a slight gain despite concerns on interest rate movements and weak Chinese data.
ASX 200 closes up just 0.26%
The S&P/ASX 200 index closed at 7381.1 points with miners and banks leading the way, although economic data from China and New Zealand stoked inflation fears and sent bond yields up.
‘Too good’: Big scam Aussies are falling for
Bitcoin is surging once again, and thousands of Aussies are investing, hoping to make a fortune – but this one factor has seen losses of more than $328 million.
ASX closes up 0.7%; Macquarie up nearly 4%
Stocks are well into positive territory with the tech sector leading gains. Macquarie jumps nearly 4%. Travel stocks firm.
ASX200 ends +0.5%; S32 jumps
The ASX200 rose 0.5% as US index futures gains added to positive leads from Wall Street. The IT and Materials sectors led gains with Afterpay up 4.5% and South32 up 4.9%.
ASX slips on banks, miners
ASX stocks slip 0.1 per cent as weak iron ore futures weigh on the major miners and Bank of Queensland leads banks lower
ASX down 0.3% as Westpac leads bank losses
Local stocks closed 0.3 per cent lower as losses among banks after Westpac’s $1.3bn writedown offset strong mining gains on the back of rising commodity prices.
World’s richest man mocks rival
Tesla CEO Elon Musk, newly minted as the world’s richest man, has sent a mocking message to his rival, Amazon founder Jeff Bezos.
ASX closes down 0.3% as Star tumbles
Australia’s share market mostly recovered from a sharp intraday fall to close down 0.3% with Star Entertainment the day’s big faller after a damning media report.
Unexpected crypto price surge
The price of “meme” crypto Shiba Inu has surged, with some crediting Tesla CEO Elon Musk for the unexpected rise.
Original URL: https://www.themercury.com.au/business/markets/page/196