logo
ASX 200 to see a ‘flat start'

ASX 200 to see a ‘flat start'

Sky News AU2 days ago

CommSec's Tom Piotrowski says the ASX 200 will have a 'flat' start when trading begins on Monday.
'We are only going to see a flat start where the ASX 200 is concerned, ever so slightly in negative territory,' Mr Piotrowski told Sky News Australia.
'It was a similarly dull outcome on paper when it came to the US markets.'
Presented by CommSec.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump's tariffs are the ‘biggest concern' for Australian businesses
Trump's tariffs are the ‘biggest concern' for Australian businesses

Sky News AU

time8 hours ago

  • Sky News AU

Trump's tariffs are the ‘biggest concern' for Australian businesses

Principal at Economics Unchained Stephen Halmarick says US President Donald Trump's tariffs have overtaken inflation as the biggest worry for Australian businesses. 'Interestingly, over the last year or so, inflation was by far the biggest worry for businesses in Australia,' Mr Halmarick told Sky News Australia. 'Now that's come down and in fact been overtaken by global geopolitical worries as the biggest concern for Australian businesses – and I think we all know the reasons for that.'

ASX shrugs off trade tensions
ASX shrugs off trade tensions

Perth Now

time8 hours ago

  • Perth Now

ASX shrugs off trade tensions

The Australia sharemarket closed at a three month high thanks to trade talks between the US and China, the Commonwealth Bank hitting a record high and the RBA minutes signalling further rate cuts are coming. The benchmark ASX 200 index gained 52.60 points or 0.63 per cent during Tuesday's trading to close at 8,466.70. The broader All Ordinaries also finished heavily in the green up 53.40 points or 0.62 per cent to 8,690.90. The Australian dollar slumped throughout the trading day, down 0.67 per cent and is now buying 64.53 US cents. On the strongest day of trading so far in June, nine of the 11 sectors finished in the green, led by the big four banks, consumer staples and telecommunication services. ASX jumps to three month high. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia CBA shares closed up 1.26 per cent to $178.64, hitting a new record high on Tuesday. The rest of the big four are also trading higher, Westpac shares rose 1.37 per cent to $32.62, NAB shares rallied 1.19 per cent to close at $38.19 and ANZ shares finished heavily in the green up 1.31 per cent to $29.36. Telecommunications businesses were also trading higher. Telstra shares jumped 1.04 per cent to $4.87, while REA group was up 0.35 per cent to $241.13 and Car Group closed in the green up 0.37 per cent to $35.55. It was a mixed day for the major miners with only Fortescue metals trading higher up 0.13 per cent to $15.02. Rio Tinto shares dropped 0.66 per cent to $110.02 and BHP lagged down 0.58 per cent to $37.56. Part of the strong day on the ASX came from the back of potential trade talks between the US and China, with senior financial market analyst Kyle Rodda said the markets were shrugging off simmering trade tensions. 'Despite the doubling of aluminium and steel tariffs and some spicy rhetoric by the US and China about trade relations, Wall Street erased an early loss to end the session broadly higher,' he said. Nine of the 11 sectors finished in the green. NewsWire / Max Mason-Hubers Credit: News Corp Australia In other positive news for the ASX, the RBA's minutes of monetary policy was released, with CBA economist Belinda Allen saying it confirms the RBA is taking on a more dovish tone. 'A July rate cut is 'live' given the discussion in the minutes, together with market pricing and RBA economic forecasts conditioned on a terminal rate cut of 3.2 per cent,' she said. 'We continue to expect two more rate cuts this cycle and favour an August and September cut.' In company news, shares in IDP Education plunged after the language testing and student placement company's latest announcement. It says global uncertainty has seen its language test volumes fall 18 to 20 per cent while student placement volumes have slumped 28 to 30 per cent. Treasury Wine Estates rose 0.49 per cent to $8.14 after lowering its guidance and the loss of a key distributor in the US, for its premium wine division. Shares in gambling company PointBet entered a trading halt as it waits to announce the decision of a $353m acquisition of the business by Japanese competitor MIXI. Pizza retailer Domino's shares were also in the red down 2.20 per cent to $21.76 after announcing leadership changes to its Japanese arm to support the 'next phase of its business turnaround'.

CBA's record high helps drag ASX 200 higher
CBA's record high helps drag ASX 200 higher

News.com.au

time8 hours ago

  • News.com.au

CBA's record high helps drag ASX 200 higher

The Australia sharemarket closed at a three month high thanks to trade talks between the US and China, the Commonwealth Bank hitting a record high and the RBA minutes signalling further rate cuts are coming. The benchmark ASX 200 index gained 52.60 points or 0.63 per cent during Tuesday's trading to close at 8,466.70. The broader All Ordinaries also finished heavily in the green up 53.40 points or 0.62 per cent to 8,690.90. The Australian dollar slumped throughout the trading day, down 0.67 per cent and is now buying 64.53 US cents. On the strongest day of trading so far in June, nine of the 11 sectors finished in the green, led by the big four banks, consumer staples and telecommunication services. CBA shares closed up 1.26 per cent to $178.64, hitting a new record high on Tuesday. The rest of the big four are also trading higher, Westpac shares rose 1.37 per cent to $32.62, NAB shares rallied 1.19 per cent to close at $38.19 and ANZ shares finished heavily in the green up 1.31 per cent to $29.36. Telecommunications businesses were also trading higher. Telstra shares jumped 1.04 per cent to $4.87, while REA group was up 0.35 per cent to $241.13 and Car Group closed in the green up 0.37 per cent to $35.55. It was a mixed day for the major miners with only Fortescue metals trading higher up 0.13 per cent to $15.02. Rio Tinto shares dropped 0.66 per cent to $110.02 and BHP lagged down 0.58 per cent to $37.56. Part of the strong day on the ASX came from the back of potential trade talks between the US and China, with senior financial market analyst Kyle Rodda said the markets were shrugging off simmering trade tensions. 'Despite the doubling of aluminium and steel tariffs and some spicy rhetoric by the US and China about trade relations, Wall Street erased an early loss to end the session broadly higher,' he said. In other positive news for the ASX, the RBA's minutes of monetary policy was released, with CBA economist Belinda Allen saying it confirms the RBA is taking on a more dovish tone. 'A July rate cut is 'live' given the discussion in the minutes, together with market pricing and RBA economic forecasts conditioned on a terminal rate cut of 3.2 per cent,' she said. 'We continue to expect two more rate cuts this cycle and favour an August and September cut.' In company news, shares in IDP Education plunged after the language testing and student placement company's latest announcement. It says global uncertainty has seen its language test volumes fall 18 to 20 per cent while student placement volumes have slumped 28 to 30 per cent. Treasury Wine Estates rose 0.49 per cent to $8.14 after lowering its guidance and the loss of a key distributor in the US, for its premium wine division. Shares in gambling company PointBet entered a trading halt as it waits to announce the decision of a $353m acquisition of the business by Japanese competitor MIXI. Pizza retailer Domino's shares were also in the red down 2.20 per cent to $21.76 after announcing leadership changes to its Japanese arm to support the 'next phase of its business turnaround'.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store