The COB from ausbiz

The S&P/ASX200 closed up sharply Thursday, gaining 136 points or 1.9% to 7,332. It was the market's best intraday performance in around six months, a day after setting a new 50-day low and despite mixed lead-ins and lingering global uncertainty. Iron ore futures popped in Singapore - up 11% at one stage - with all the majors following - BHP Group (BHP) and Rio Tinto (RIO) both around 3% higher...

The S&P/ASX200 closed down on Wednesday, dropping 79 points or 1.1% and setting a new 50-day low. The bottom performing stocks were Pinnacle Investment (PNI), shedding 9%, while Tyro Payments (TYR) and Chalice Mining (CHN), gave away 6% each. Heavy falls across the IT, health care and energy sectors followed in the wake of Wall Street losses as rising bond yields and another US debt ceiling im...

The S&P/ASX200 closed lower Tuesday, dropping 109 points or 1.5% to 7,276, mixed leads became broad based selling. Virtually all sectors floundered, but for the energy names and a utility or two as global energy pressures spiked. Enter the coal miners - Whitehaven (WHC) up 6.8%, New Hope (NHC) up 5.1% and Yancoal (YAL) up 4%. And welcome back, oil and gas - Beach Energy (BPT) up 11.7%, Woodsid...

The S&P/ASX200 closed higher on Monday, gaining 42 points or 0.6% to 7,384. The gains follow mixed leads, rising oil prices, persistent fears over China's Evergrande debacle and a little optimism over local reopening plans. So the travel names released their inner kraken - Flight Centre (FLT) spiking 7.3% Helloworld up 4.1% and Webjet climbing 5.4%. The energy sector up 11% this month alr...

The S&P/ASX200 closed lower Friday, dropping 28 points or 0.4% to 7,343, with shares in China's Evergrande down some 11% in Hong Kong, adding further pressure on a subdued local market. The real estate sector bled out in late trade, despite Domain (DHG) touching an intraday record high. Materials and gold miners also lower, the price of gold disgracing itself over night. The genuine lagga...

The S&P/ASX200 closed up Thursday, gaining 73 points or one per cent to 7,370, the US Federal Reserve offered a measured description of the taper to come. Wall Street rallied as did China's slow-motion trainwreck, Evergrande. In Hong Kong, shares in the property developer jumped over 20%. That doesn't erase the US$300 billion of debt, it won't cover the 80% shed since January and the comp...

The S&P/ASX200 closed up Wednesday, gaining 23 points or 0.3% to 7,297, but not before first setting a new 50-day low as Wall Street weighed and Evergrande lingered. Those fears proved fleeting. The energy names led, materials not far off and the real estate sector did some fine afternoon trade. The big four banks did not. And neither did the insurance groups because, y'know, earthquake. IAG,...

The S&P/ASX200 closed higher Tuesday, gaining 26 points or 0.4% to 7,274 after crashing early to a new 50-day low. The miners led the rebound, but yielded late in the day to the energy, consumer discretionary and IT sectors which all rose in afternoon business. Concerns around a US debt default and potential fallout from the ruination of Chinese property giant Evergrande were magnified by...

The S&P/ASX200 closed sharply lower Monday, dropping 156 points or 2.1% to 7,248, setting a new 20-day low. Iron ore, and I think the word here is rout - the rout continues - Champion Iron (CIA) down 12.5%, making the three majors Fortescue (FMG), Rio Tinto (RIO) and BHP Group (BHP) all down between 4.5% and 3.5%, look positively healthy in comparison. But they're not great and the math is sim...

The S&P/ASX200 closed lower Friday, dropping 57 points or 0.8% to 7,404 and crossing below its 50-day moving average. The markets woke up to the new iron ore reality it seems, global spot prices falling again, but only a continuation of the slide that began in earnest from July. China's long flagged cuts to steel output, but the decline of debt-riddled property giant Evergrande and the im...

The market went for a nice run today, finishing up 0.58% at the close of trade. Almost every single sector finished in the green, with the energy MVP. Austal was up 2.67% as "that fella down under" (the PM) went nuclear, signing a new military partnership with peers Boris Johnson and Joe Biden. At the other end of the scale, traders took profits in Pilbara Minerals and Orocobre. Fortescue and...

The S&P/ASX200 closed lower Wednesday, dropping 20 points or 0.3% to 7,417. Weak overnight leads and flat oil prices played out across the banking and energy sectors and materials were weighed down heavily by the big iron ore miners on falling futures in Dalian (where I used to live). And on China, August economic activity came in weaker than expected, key suppliers BHP Group (BHP) and Ri...

The S&P/ASX200 closed up Tuesday, gaining 12 points or 0.2% to 7,437 after tailwinds drove the market higher on light trading volumes. Wall Street ended mixed, the NASDAQ lower. Oil hit six-week highs and iron ore ten-month lows. That scenario largely played here in the morning session as tech stocks tanked, and the energy names collected. RBA Governor Phillip Lowe spoke at lunchtime, on ...

The S&P/ASX200 closed up Monday, gaining 19 points or 0.25% to 7,425. Materials did well, particularly the new energy miners. A fine session for Pilbara Minerals (PLS) up 7.3% and Lynas (LYC) gaining 5.4%. Yet, play of the day goes to takeover target Sydney Airport (SYD), 4.6% stronger after inviting the IFM-led consortium into its books after liking the look of a third offer, now worth $...

The S&P/ASX200 closed up Friday, gaining 37 points or 0.5% to 7,407. Let's wrap this one up: coal rose, iron ore and oil fell. Materials and energy led gains. The banks were a pass. Not Macquarie (MQG), 0.6% lower. Santos (STO), Oil Search (OSH) got their $21 billion merge on. Stock of the day was a rebounding Nickel Mines (NIC) up 8.3%. Polynovo (PNV) went ex-COO, losing 5.5%. Listing today a...

The S&P/ASX200 closed sharply lower Thursday, dropping 143 points or 1.9% to 7,370, as fears of a global pullback coalesced into some broad-based selling here at home. Almost $50 billion of value was wiped off the local index in it's worst session in months. Every sector lower, the materials, banks and consumer stocks among the hardest hit. Of the laggards, Virgin Money UK (VUK) down 8.4%...

The S&P/ASX200 closed lower Wednesday, dropping 18 points or 0.2% to 7,512. Following a Labour day holiday rich with economic uncertainty, Wall Street closed mixed on timid trade, a mood that infected US exposed stocks here at home. Not the rest of Asia. All the major indices rose steadily, led by the Shanghai Composite up 1.5% while over in Singapore iron ore futures fell more than 4% as Chin...

The S&P/ASX200 ended a few points higher on Tuesday, but it's been many moons since I've seen two points as weak and meaningless and deflating as these ones. The fact is this is an index that recovered to be flat. Some will pin it on the RBA and its 'QE Mullet' (trimmed at the front, extensions at the back) and that's just fine. Also, going ex-dividend is an excellent expression. I myself...

The S&P/ASX200 somehow closed up around five points on Monday ending a very unexpected day of trade. The undeniable pluck shown by the little index that could, came in the face of surging COVID-19 numbers, US non-farm payroll weakness and an ex-div Fortescue Metals Group (FMG), crashing 11.2%, taking the materials sector and the broader index with it. Pro Medicus (PME) sold off about 6%, while...

The S&P/ASX200 closed up Friday, gaining 37 points or 0.5% to 7,523, on light volumes as traders await the headline US non-farm payroll numbers tonight. The coal/lithium train did leave the station this morning at the open, Orocobre (ORE) and Whitehaven Coal arriving at 7.6% and 6.4% by the close. Not much on the debit sheet, Afterpay (APT) and Bluescope (BSL) down 2.9% and 2.7%. Yes, it was a...

The S&P/ASX200 closed lower Thursday, dropping 41 points or 0.55% to 7,486. Wall Street closed mixed overnight, with some of the big names in Aussie business going ex-dividend here at home. BHP closing 6.9% the worse for wear, United Malt Group (UMG) giving away 6.1% on weaker guidance. The uncanny adventures of Altium (ALU) - dissed by Macquarie, loved by Citi - climbing 4.8%, while Clinuvel...

The S&P/ASX200 closed lower Wednesday, dropping eight points or 0.1% to 7,527, some perky GDP numbers lifting the index from a first of September morning funk. Energy led the sectors, up 1.2%, the big banks came back in late trade but the major miners did not. Lots of companies going ex-dividend, lots of healthcare names disappointing. Beaten but not broken, Nuix (NXL), closing up 5.5% and top...

The S&P/ASX200 closed up Tuesday, gaining 30 points or 0.4% to 7,535, the energy names rising on Hurricane Ida shutdowns, while tech and Industrial stocks drove the Tuesday gains. It was the best of times for the health sector: Clinuvel Pharmaceuticals (CUV) up 10% and the worst of times, Mesoblast (MSB) down 15%, the latter on an actionless and underwhelming full year. And in the perfect snip...

The S&P/ASX closed higher, Monday, gaining 22 points or 0.2% to 7,505. The materials sector carried a choppy index over the line, Fortescue Metals' (FMG) up 6.7%, more than doubling last years' profit. And that monstrous final dividen... we'll have to start calling Twiggy, Branchy, very soon. Other winners outside the materials sector, Invocare (IVC) and Polynovo (PNV) - both up arou...

The S&P/ASX200 closed down just three points Friday to 7,488, the local index clawing back some ground on light trade, ahead of Annette's 3am date with Fed Chair Jerome Powell at the virtual Jackson Hole central bankers hoedown tonight. The bottom performing stocks today were Pilbara Minerals (PLS) and Appen Ltd (APX) down 6.8% and 6.6% respectively. Dr Philippe Wolgen's Clinuvel (CUV) cl...