Latest news with #Ordinaries
The Advertiser
9 hours ago
- Business
- The Advertiser
Australian shares snap five-week winning streak
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback. Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback. Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback. Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback.
West Australian
21-05-2025
- Business
- West Australian
ASX 200 continues to climb on Wednesday after RBA rate cut
Australia's sharemarket continued its post RBA rate cut bounce during Wednesday's trading and is now within touching distance of the record highs set at the start of the year. The S&P/ASX 200 rose 0.5 per cent, or by 43.5 points, to 8,386.8 points at the close. The broader All Ordinaries also traded heavily in the green gaining 38.30 points or 0.45 per cent to 8,611.70, setting a new 50-day high. On an overall positive day for Australian investors, nine of the 11 sectors finished higher, led by energy, utilities, healthcare and bourse heavy financials. It was a good day for the oil producers, with Woodside gaining 1.16 per cent to $21.75 and Santos jumped 1.26 per cent to $6.45. In the healthcare sector, ResMed climbed 4.01 per cent, while Fisher & Paykel Healthcare gained 3.08 per cent to $33.84 and CSL closed 0.48 per cent higher to $245.21. All four major banks were also in the green led by CBA which continues to reset record highs, up 1.48 per cent to $174.98. NAB also jumped during Wednesday's trading up 1.16 per cent to $37.64, while ANZ gained 0.31 per cent to $28.85 Westpac firmed 0.22 per cent to $31.57. senior financial market analyst Kyle Rodda said Wednesday's market rally was an extension of the gains led by Tuesday afternoon's rate cut. 'The follow through from yesterday's dovish cut from the RBA propelled the ASX200 higher today, with the index hitting a three month high and retesting the 8,400 level,' he said. 'The gain was broadbased, but utilities stocks led the way with heavy-weighted energy and materials stocks also supporting the market – the former rising after a jump in oil prices this morning on reports that Israel was preparing to strike Iranian nuclear facilities.' The Australian dollar continued to climb against the US up a further 0.5 per cent against the greenback to 64.51 US cents, on the back of the continued sell-off of the US dollar. Mr Rodda said the firming of the Aussie dollar despite more cuts coming from the RBA, could be due to the Japanese government raising interest rates. 'Another ominous sign is the simultaneous drop in the value of US Treasuries and US futures today, indicating the persistence of the 'sell-America' narrative being driven by a weaker growth outlook and diminished confidence in US government and institutions,' he said. In company news, Westpac has announced it is cutting up to 1500 roles in its biggest cut in a decade as the major bank looks to simplify processes and use more technology under its project known as Unite. James Hardie's share price was down 6.1 per cent to $36.10, after the company announced its quarterly update which showed a 1 per cent decline in net sales. Shares in wearable performance tracking device and analytic tools, Catapult surged 13.7 per cent to $4.89 after a strong full-year result and an optimistic outlook, saying it can capitalise on the billions spent on sport each year.
Perth Now
21-05-2025
- Business
- Perth Now
ASX extends winning streak post RBA cut
Australia's sharemarket continued its post RBA rate cut bounce during Wednesday's trading and is now within touching distance of the record highs set at the start of the year. The S&P/ASX 200 rose 0.5 per cent, or by 43.5 points, to 8,386.8 points at the close. The broader All Ordinaries also traded heavily in the green gaining 38.30 points or 0.45 per cent to 8,611.70, setting a new 50-day high. On an overall positive day, nine of the 11 sectors finished in the green. Picture Newswire/ Gaye Gerard. Credit: News Corp Australia On an overall positive day for Australian investors, nine of the 11 sectors finished higher, led by energy, utilities, healthcare and bourse heavy financials. It was a good day for the oil producers, with Woodside gaining 1.16 per cent to $21.75 and Santos jumped 1.26 per cent to $6.45. In the healthcare sector, ResMed climbed 4.01 per cent, while Fisher & Paykel Healthcare gained 3.08 per cent to $33.84 and CSL closed 0.48 per cent higher to $245.21. All four major banks were also in the green led by CBA which continues to reset record highs, up 1.48 per cent to $174.98. NAB also jumped during Wednesday's trading up 1.16 per cent to $37.64, while ANZ gained 0.31 per cent to $28.85 Westpac firmed 0.22 per cent to $31.57. senior financial market analyst Kyle Rodda said Wednesday's market rally was an extension of the gains led by Tuesday afternoon's rate cut. 'The follow through from yesterday's dovish cut from the RBA propelled the ASX200 higher today, with the index hitting a three month high and retesting the 8,400 level,' he said. 'The gain was broadbased, but utilities stocks led the way with heavy-weighted energy and materials stocks also supporting the market – the former rising after a jump in oil prices this morning on reports that Israel was preparing to strike Iranian nuclear facilities.' The Australian dollar continued to climb against the US up a further 0.5 per cent against the greenback to 64.51 US cents, on the back of the continued sell-off of the US dollar. Mr Rodda said the firming of the Aussie dollar despite more cuts coming from the RBA, could be due to the Japanese government raising interest rates. The Australian dollar continues to strengthen despite further rate cuts on the horizon. NewsWire / Max Mason-Hubers Credit: News Corp Australia 'Another ominous sign is the simultaneous drop in the value of US Treasuries and US futures today, indicating the persistence of the 'sell-America' narrative being driven by a weaker growth outlook and diminished confidence in US government and institutions,' he said. In company news, Westpac has announced it is cutting up to 1500 roles in its biggest cut in a decade as the major bank looks to simplify processes and use more technology under its project known as Unite. James Hardie's share price was down 6.1 per cent to $36.10, after the company announced its quarterly update which showed a 1 per cent decline in net sales. Shares in wearable performance tracking device and analytic tools, Catapult surged 13.7 per cent to $4.89 after a strong full-year result and an optimistic outlook, saying it can capitalise on the billions spent on sport each year.
