The COB from ausbiz

An escalation of tensions sparked a weak opening, but the heavy skew of the local market towards energy and materials proved too tempting, given the strength in commodity prices. Iron ore heavy-weights BHP, Rio Tinto and Fortescue were standouts, while the energy complex jumped 4.9% as benchmark crude prices soared above $US111 per barrel. Core Lithium jumped 14% thanks to the clickbait that is Te...

The local share market continues to shake off fears of an escalating conflict in Ukraine and the policy dilemma it poses central banks in the face of rising inflation. The ASX200 finished the day up 0.7%, led by tech stocks, with the sector up by more than 5%. Russia's aggression in eastern Europe is occupying the mind of Reserve Bank Governor, Philip Lowe, who referred to the war in Ukraine as a...

A surge in commodity prices across the spectrum and some end-of-month window dressing helped the local market to a remarkably positive finish, despite war in Ukraine and US futures tanking. BHP, Rio Tinto, gold and energy all pushed higher. Graincorp outperformed on expectations it could benefit as soft commodity prices rise, with Russia's invasion curbing supplies from Ukraine. Sandfire Reso...

A strong US finish gave local investors confidence to wander back into the market. Yesterday’s unloved tech was a buy, especially Block after a profit beat, closing 33% higher and resting comfortably at the top of the ASX200 ladder. Investors took profits on Aussie goldies, while rare earths, lithium etc caught a bid after stellar results from Lynas - boosting that share price by 8%. Reporting sea...

Market nerves turned into outright contagion after Russian President Putin attacked Ukraine mid-afternoon Sydney time. The S&P/ASX200 reacted and fell 215 points or -3%; the biggest one-day loss since September 2020. Gold stocks were the sole gainers, rising 4.3% after gold prices hit their highest level in over a year as investors flocked to safe-haven assets. Miners overall posted their wors...

Geopolitical nerves were soothed, so it was - apparently - time to buy the dip. As such, the S&P/ASX200 added 44 points or 0.6% to close in the green. Rio Tinto reported after the close, posting record full year earnings at US$21.1B up from US$9.8B last year. Shareholders will be rewarded with an eyewatering special dividend of US$2.47 per share on top of US$1.04 per share. Domino's got b...

Jitters over the escalating Russia-Ukraine conflict saw risk snapped off the table. The broader index opened lower and stayed there until the end with the S&P/ASX slicing off 72 points or -1%, except for the energy sector which closed 1.8% higher. Outstanding company results were still rewarded. The best performers were Cochlear and Costa, closing up 8-9%. Hub24 added over 4% on as i...

Early risk-off trading gave way to optimism after news of “non-invasion talks” between the Russian and US Presidents hit the wires. The market was down nearly 50 points at one stage, so it was an impressive close higher at 7,234 +0.16%. Reporting season was responsible for most outsized share price moves again today. Tyro was smashed by nearly 27% on a big miss and no clear path to profitabil...

Geopolitical jitters kept the market under pressure today, but lifted gold stocks as the commodity price hit $US1900oz. Magellan was the biggest mover on the S&P/ASX200, closing up almost 19% after its report and promises of better times ahead prompted investors to catch that falling knife. No one came close to the controversy-stricken fundie, but Netwealth rebounded 5.7% after its post-r...

It was another positive session as a slew of top shelf companies delivered earnings, sparking sharp share price reactions. Heading into the close however, most of the day's gains were wiped out as the geopolitical news cycle turned again with reports of shelling in disputed Ukranian territory. Top of the ladder was intellectual property hub, IPH which was up more than 9%, followed by Challenger Fi...

It was risk on to the close of the session, with the local market closing on the highs of the day up 78 points or +1.1%. Shareholders were in for a treat with it raining dividends today, with numerous top-line companies carving up the balance sheet. Treasury Wine Estates successfully navigated around Chinese tariffs, and investors bid up the price by nearly 12%. CSL also got shareholders' blo...

In a sea of geopolitical doom, upbeat company reports acted as a shining light. Strong reports from Sims and Seek, as well as a record dividend from BHP, saw those three companies hit the top five with a bullet. BHP's share price failed to maintain momentum as iron ore futures tanked. Brambles responded to media speculation it's in talks with private equity giant KKR just before the close, bu...

Geopolitical risks are back in the spotlight, sending investors back to blue chips and the bond market. However, as oil marches towards $100bbl the next obvious play was energy, with WPL and STO up 3% in the first few minutes of trade and closed nearly 4% higher. Today’s other risk-off thematic was pile into Aussie goldies, with most household names up at least 6% by end of day. Torn between...

The nasty US inflation print shook up the markets as expected, although it wasn’t just growth stocks that felt the heat. The rush to blue chips was evident, with small and mid caps shrinking by multiples of the top 20. Companies at the top of the ladder were hard to come by. Unibail-Rodamco Westfield led the market all day with investors cheering its new strategy to realise value, closing up...

It was a largely upbeat local session ahead of tonight’s US inflation event risk. Whether it surprises or disappoints will set the tone for tomorrow’s trading session. Blue chips were the investor safe haven today, with banks and miners supporting the market. Healthcare and consumer staples not faring so well. Companies at the top of the ladder were a mixed bag, Bapcor’s rebound was notable after...

An upbeat slew of company reports pushed the local market higher over the course of the day. Only energy and iron ore majors didn’t feel the love. After a rough few weeks Aussie tech led the way higher, adding 2.6%, neck and neck with financials adding 2.5%. CBA was the star performer on profits, dividends and a $2B buyback. Computershare added 11% on a decent report, while Temple & Webst...

Another deluge of largely well-received company updates, plus another bump in travel stocks equated to a decent trading session. Some short squeezing likely helped Webjet and Flight Centre achieve its 7-8% top of the ladder outperformance. Macquarie (4%) and Suncorp (6%) also landed in the hotly contested top 10, while Magellan found some dip-buyers and closed up over 7%. The financials overa...

Company news dropped like hailstones well before the open. Graincorp was the only game in town until the Prime Minister threw open the borders to vaccinated travellers and travel stocks clamoured higher in the last hour of trade. Graincorp closed up nearly 13% thanks to a strong harvest and freight management, followed by travel besties Flight Centre and Corporate Travel adding 7-8% Elders added 5...

It was a wild day on top of a wild week, where midday losses quietly turned into a green close. As oil surged through $90bbl this week the energy sector was today’s sector leader, adding 0.7%. Aussie tech found some love after a tough US-led week, ZIP managing to add 3%. Today’s top performers were strange bedfellows News Corp, Qantas and Liontown. News Corp at least beat the street to earn its 6%...

The local bourse opened in the wake of the after-market 20+% tumbles in Paypal and Meta, and so local tech found itself under the bus. ZIP closed down over 9%, WiseTech shedding nearly 8%, but Block, the poster child of anti-tech sentiment, shed close to 10%. Novonix at the bottom of the ladder lost 14%. The sole supernova today was Nufarm, closing up 20% as revenues surge ahead of rising cos...

The local market opened higher and stayed there, and while most sectors were in the green nothing really shot the lights out. Energy and materials led the way higher; a broker upgrade was behind Champion Iron’s near-6% pop. At the other end, yesterday’s upbeat Credit Corp report was sold into, closing down 6%. While after a good run, profit-taking saw Block slice 6% off the share price. PayPal’s d...

Early market trade was all about tech (again) with Block and Appen dominating the top of the ladder for the duration of the session, following the Nasdaq's lead and posting gains for the third session in a row. Overall, the sector added just over 1%. Credit Corp closed up 2.7% after exceeding profit expectations in its half year update, while Boral returning a whopping $3 billion to shareholders s...

Glancing at the open and close, it looked like a nothing trading day in aggregate. Lurking under the hood was the rebound of Aussie tech, looking at you BNPL. After zero love in recent weeks tech followed the Nasdaq higher, with SQ2 (Block) surging to top the ASX200 ladder for most of the session before ARB pushed in to close 8% higher. Z1P not far behind, closing over 7% higher. Blue chips w...

The local sharemarket ended the shortened and volatile trading week on a strong note, more than erasing yesterday's steep losses. The S&P/ASX200 ended up close to 2.2% higher, but failed to make it back above the 7000 level. The blue-chips led the market higher with all sectors finishing in the green, led by consumer discretionary and staples. Wesfarmers, Coles and Macquarie Group among the le...

Tennis anyone? Markets are like watching a tennis match - US stocks again pivoted in the last hour of trade, while our market popped higher at the open only to sink into a technical correction. Tech stocks bore the brunt of an aggressive US Fed overnight, down over 5% and taking year to date losses to near 20%. Aussie goldies were also caught in the crossfire. Financials opened in the green, then...