The Australian sharemarket saw early afternoon gains, following a positive Wall Street lead, with the S&P/ASX 200 rising 0.6% (47.7 points) to 8166.5 after a 1.1% decline last week—its worst since August. Tech and utilities led sector gains, while mining and energy fell amid a volatile outlook as investors prepared for US elections, corporate earnings, and central bank meetings.
Australian shares fell to a seven-week low on Friday, with the S&P/ASX 200 down 0.9% or 75 points to 8085 by early afternoon, after declines earlier this week. Financials led the downturn as Macquarie Group dropped 4.3%, hitting a one-month low due to disappointing first-half FY25 profits and a dividend cut. The big four banks all declined over 1%, with National Australia Bank down 2.2%.
Mineral Resources (MinRes) has agreed to sell its oil and gas assets in the Perth Basin to Gina Rinehart’s Hancock Prospecting in a $1.1 billion deal.
Australian shares slipped midday as utilities and consumer staples weighed on the S&P/ASX 200 Index, down 0.2% or 12.1 points to 8168.3. Utilities led losses, with AGL Energy falling 6% after Barrenjoey downgraded it to underweight, citing the expiry of cheap coal and gas supply contracts, which prompted reduced future earnings estimates.
The Australian sharemarket advanced, following Wall Street’s gains, as consumer discretionary and mining stocks led the rally. By early afternoon, the S&P/ASX 200 Index was up 0.5 percent, adding 41.6 points to reach 8263.1.
The Australian sharemarket advanced, following Wall Street’s gains, as consumer discretionary and mining stocks led the rally. By early afternoon, the S&P/ASX 200 Index was up 0.5 percent, adding 41.6 points to reach 8263.1.
Australian shares remained steady early Monday afternoon, with the S&P/ASX 200 down 1 point at 8211.2 in a restrained start to the week. Gains in technology balanced declines in energy and utilities sectors, as five of the ASX’s 11 sectors rose.
Australian shares rose by midday Friday, driven by a 14% surge in WiseTech following CEO Richard White’s sudden exit. The S&P/ASX 200 gained 0.4% or 35.2 points to 8241.5, bouncing back from Thursday’s 0.1% loss but set for a 0.5% weekly decline. Technology led nine advancing sectors, rising 4%.
Australian shares edged higher at midday, with the S&P/ASX 200 up 10 points to 8233 after a weak start. A recovery in the banking sector, particularly Commonwealth Bank’s 1.2% rise, offset broader market declines. Technology stocks dropped 2%, following the overnight fall of US mega-caps like Nvidia and Apple.
The Australian sharemarket tumbled on Tuesday, with the S&P/ASX 200 Index falling 1.4%, or 226.4 points, to 8228 by midday, following a sell-off across all sectors.
The Australian sharemarket tumbled on Tuesday, with the S&P/ASX 200 Index falling 1.4%, or 226.4 points, to 8228 by midday, following a sell-off across all sectors.
Australia’s sharemarket rose 0.7% on Monday, with the S&P/ASX 200 Index gaining 55.2 points to 8338.7, driven by strength in the materials and healthcare sectors. Mining stocks led the charge, with iron ore prices rebounding and gold prices surpassing $US2700 per ounce.
