Latest news with #US63.55
Yahoo
24-04-2025
- Business
- Yahoo
ASX 200 jumps on US-China tariff rumours
The Australian sharemarket posted its best week of the year after reports emerged US President Donald Trump is looking to soften his tariffs on China. The benchmark ASX 200 index finished up 47.70 points or 0.60 per cent to 7,968.20. The broader All Ordinaries also rose 49.90 points or 0.61 per cent to finish the trading week at 8,175.10. The Aussie dollar is trading around US63.55 cents. On an overall positive day for the markets, eight of the 11 sectors finished in the green, led by health care and material stocks. Australia's market along with much of Asia rose on the back of renewed hopes of a softening in the tariff war between the US and China. Mr Trump previously added tariffs on every trading partner starting at 10 per cent, with China facing the highest rates of 145 per cent. Overnight, reports emerged Mr Trump would downgrade these tariffs to 50 to 65 per cent lifting world markets. Commonwealth Bank director mining and energy commodities Vivek Dhar said the price of iron ore has risen on the back of US-China trade talks and strengthening seasonal demand for the commodity. 'Iron ore spot prices rose back above $US100 per tonne this week on stimulus hopes in China and as US President Trump said he's willing to 'substantially' pare back tariffs on China,' he said. This helped support the major miners. BHP shares jumped 0.90 per cent to $28.06, Rio Tinto traded higher up 0.96 per cent to $114.92 and Fortescue Metals rose 1.04 per cent to $15.52. Mineral Resources had the strongest day among the miners, up 5.93 per cent to $18.23. It was also a strong day trading for the big four banks. Westpac added 1.1 per cent to $32.04 and ANZ jumped 1.55 cent to $28.84. Commonwealth Bank was up 0.6 per cent to $164.72 after a strong run this week and NAB also added 0.6 per cent to $35.11. IG market analyst Tony Sycamore said while equity markets responded positively to the overnight headlines, investors appeared to have glossed over comments from Treasury Secretary Scott Bessent, who said discussions with China have not commenced. 'With only three trading sessions remaining, the ASX200 is up 1.5 per cent in April, on track to snap a two-month losing streak,' he said. 'This is a remarkable outcome after being down over 8.5 per cent earlier in the month.' Uranium stocks also enjoyed a strong day of trading, with three of them making up the top 5 on the ASX 200. Paladin Energy continued its surge higher on strong results released earlier in the week up 12.09 per cent to $5.560. Deep Yellow jumped 9.62 per cent to $1.025 and Boss Energy rose 8.42 per cent to $2.830. In company news, sleep disorder company ResMed surged 8.51 per cent to $36.08 on the back of improving revenue. The newly listed Generation Develop Group slumped on its quarterly earnings update down 14.85 per cent to $4.13. Sign in to access your portfolio
Perth Now
24-04-2025
- Business
- Perth Now
Best week of the year: ASX jumps on tariff talk
The Australian sharemarket posted its best week of the year after reports emerged US President Donald Trump is looking to soften his tariffs on China. The benchmark ASX 200 index finished up 47.70 points or 0.60 per cent to 7,968.20. The broader All Ordinaries also rose 49.90 points or 0.61 per cent to finish the trading week at 8,175.10. The Aussie dollar is trading around US63.55 cents. On an overall positive day for the markets, eight of the 11 sectors finished in the green, led by health care and material stocks. Australia's market along with much of Asia rose on the back of renewed hopes of a softening in the tariff war between the US and China. Camera Icon Shares jumped after reports of US will back down from its aggressive tariff policy. NewsWire / Max Mason-Hubers Credit: News Corp Australia Mr Trump previously added tariffs on every trading partner starting at 10 per cent, with China facing the highest rates of 145 per cent. Overnight, reports emerged Mr Trump would downgrade these tariffs to 50 to 65 per cent lifting world markets. Commonwealth Bank director mining and energy commodities Vivek Dhar said the price of iron ore has risen on the back of US-China trade talks and strengthening seasonal demand for the commodity. 'Iron ore spot prices rose back above $US100 per tonne this week on stimulus hopes in China and as US President Trump said he's willing to 'substantially' pare back tariffs on China,' he said. This helped support the major miners. BHP shares jumped 0.90 per cent to $28.06, Rio Tinto traded higher up 0.96 per cent to $114.92 and Fortescue Metals rose 1.04 per cent to $15.52. Mineral Resources had the strongest day among the miners, up 5.93 per cent to $18.23. It was also a strong day trading for the big four banks. Westpac added 1.1 per cent to $32.04 and ANZ jumped 1.55 cent to $28.84. Commonwealth Bank was up 0.6 per cent to $164.72 after a strong run this week and NAB also added 0.6 per cent to $35.11. Camera Icon Eight of the 11 sectors finished in the green. NewsWire / Max Mason-Hubers Credit: News Corp Australia IG market analyst Tony Sycamore said while equity markets responded positively to the overnight headlines, investors appeared to have glossed over comments from Treasury Secretary Scott Bessent, who said discussions with China have not commenced. 'With only three trading sessions remaining, the ASX200 is up 1.5 per cent in April, on track to snap a two-month losing streak,' he said. 'This is a remarkable outcome after being down over 8.5 per cent earlier in the month.' Uranium stocks also enjoyed a strong day of trading, with three of them making up the top 5 on the ASX 200. Paladin Energy continued its surge higher on strong results released earlier in the week up 12.09 per cent to $5.560. Deep Yellow jumped 9.62 per cent to $1.025 and Boss Energy rose 8.42 per cent to $2.830. In company news, sleep disorder company ResMed surged 8.51 per cent to $36.08 on the back of improving revenue. The newly listed Generation Develop Group slumped on its quarterly earnings update down 14.85 per cent to $4.13.
News.com.au
24-04-2025
- Business
- News.com.au
Best week of the year: ASX jumps on tariff talk
The Australian sharemarket posted its best week of the year after reports emerged US President Donald Trump is looking to soften his tariffs on China. The benchmark ASX 200 index finished up 47.70 points or 0.60 per cent to 7,968.20. The broader All Ordinaries also rose 49.90 points or 0.61 per cent to finish the trading week at 8,175.10. The Aussie dollar is trading around US63.55 cents. On an overall positive day for the markets, eight of the 11 sectors finished in the green, led by health care and material stocks. Australia's market along with much of Asia rose on the back of renewed hopes of a softening in the tariff war between the US and China. Mr Trump previously added tariffs on every trading partner starting at 10 per cent, with China facing the highest rates of 145 per cent. Overnight, reports emerged Mr Trump would downgrade these tariffs to 50 to 65 per cent lifting world markets. Commonwealth Bank director mining and energy commodities Vivek Dhar said the price of iron ore has risen on the back of US-China trade talks and strengthening seasonal demand for the commodity. 'Iron ore spot prices rose back above $US100 per tonne this week on stimulus hopes in China and as US President Trump said he's willing to 'substantially' pare back tariffs on China,' he said. This helped support the major miners. BHP shares jumped 0.90 per cent to $28.06, Rio Tinto traded higher up 0.96 per cent to $114.92 and Fortescue Metals rose 1.04 per cent to $15.52. Mineral Resources had the strongest day among the miners, up 5.93 per cent to $18.23. It was also a strong day trading for the big four banks. Westpac added 1.1 per cent to $32.04 and ANZ jumped 1.55 cent to $28.84. Commonwealth Bank was up 0.6 per cent to $164.72 after a strong run this week and NAB also added 0.6 per cent to $35.11. IG market analyst Tony Sycamore said while equity markets responded positively to the overnight headlines, investors appeared to have glossed over comments from Treasury Secretary Scott Bessent, who said discussions with China have not commenced. 'With only three trading sessions remaining, the ASX200 is up 1.5 per cent in April, on track to snap a two-month losing streak,' he said. 'This is a remarkable outcome after being down over 8.5 per cent earlier in the month.' Uranium stocks also enjoyed a strong day of trading, with three of them making up the top 5 on the ASX 200. Paladin Energy continued its surge higher on strong results released earlier in the week up 12.09 per cent to $5.560. Deep Yellow jumped 9.62 per cent to $1.025 and Boss Energy rose 8.42 per cent to $2.830. In company news, sleep disorder company ResMed surged 8.51 per cent to $36.08 on the back of improving revenue.
West Australian
24-04-2025
- Business
- West Australian
Best week of the year: ASX jumps on tariff talk
The Australian sharemarket posted its best week of the year after reports emerged US President Donald Trump is looking to soften his tariffs on China. The benchmark ASX 200 index finished up 47.70 points or 0.60 per cent to 7,968.20. The broader All Ordinaries also rose 49.90 points or 0.61 per cent to finish the trading week at 8,175.10. The Aussie dollar is trading around US63.55 cents. On an overall positive day for the markets, eight of the 11 sectors finished in the green, led by health care and material stocks. Australia's market along with much of Asia rose on the back of renewed hopes of a softening in the tariff war between the US and China. Mr Trump previously added tariffs on every trading partner starting at 10 per cent, with China facing the highest rates of 145 per cent. Overnight, reports emerged Mr Trump would downgrade these tariffs to 50 to 65 per cent lifting world markets. Commonwealth Bank director mining and energy commodities Vivek Dhar said the price of iron ore has risen on the back of US-China trade talks and strengthening seasonal demand for the commodity. 'Iron ore spot prices rose back above $US100 per tonne this week on stimulus hopes in China and as US President Trump said he's willing to 'substantially' pare back tariffs on China,' he said. This helped support the major miners. BHP shares jumped 0.90 per cent to $28.06, Rio Tinto traded higher up 0.96 per cent to $114.92 and Fortescue Metals rose 1.04 per cent to $15.52. Mineral Resources had the strongest day among the miners, up 5.93 per cent to $18.23. It was also a strong day trading for the big four banks. Westpac added 1.1 per cent to $32.04 and ANZ jumped 1.55 cent to $28.84. Commonwealth Bank was up 0.6 per cent to $164.72 after a strong run this week and NAB also added 0.6 per cent to $35.11. IG market analyst Tony Sycamore said while equity markets responded positively to the overnight headlines, investors appeared to have glossed over comments from Treasury Secretary Scott Bessent, who said discussions with China have not commenced. 'With only three trading sessions remaining, the ASX200 is up 1.5 per cent in April, on track to snap a two-month losing streak,' he said. 'This is a remarkable outcome after being down over 8.5 per cent earlier in the month.' Uranium stocks also enjoyed a strong day of trading, with three of them making up the top 5 on the ASX 200. Paladin Energy continued its surge higher on strong results released earlier in the week up 12.09 per cent to $5.560. Deep Yellow jumped 9.62 per cent to $1.025 and Boss Energy rose 8.42 per cent to $2.830. In company news, sleep disorder company ResMed surged 8.51 per cent to $36.08 on the back of improving revenue. The newly listed Generation Develop Group slumped on its quarterly earnings update down 14.85 per cent to $4.13.
The Age
24-04-2025
- Business
- The Age
ASX rises for second day after Trump's softer tone sparks global rally
The Australian sharemarket has continued to rise through the morning, extending a global sharemarket rally that started on Wednesday when President Donald Trump appeared to back off his criticism of the US Federal Reserve and softened his tough talk on the trade war against China. The S&P/ASX 200 was up 44.9 points, or 0.6 per cent, to 7965.40 as of 12.59pm AEST. Six of the local bourse's 11 industry sector were in the green, with miners, the big banks and tech stocks driving the market gains. The Australian dollar was trading at US63.55¢, slightly down from this morning. It's the ASX's last trading session this week, with the exchange closed on Friday for Anzac Day. The local market rose 1.3 per cent on Wednesday after Trump said he has no intention to fire the Fed's chair and that his 145 per cent tariffs on China imports would end up being much lower. Gold miner Newmont jumped 4.2 per cent, despite posting its highest quarterly costs in at least nine years, as gold rebounded from a steep, but brief decline following Trump's more conciliatory tone. Bullion this week surged past $US3,500 an ounce for the first time, as Trump's tariff agenda and geopolitical tensions prompted investors to seek havens. Iron ore giants BHP, Fortescue and Rio Tinto also pushed higher, up 1.1 per cent, 1.8 per cent and 1.1 per cent, respectively, amid expectations that America's tariffs on China won't be as punitive now as initially flagged, and become less damaging for Australia's biggest export market. The big four banks were also all trading stronger by lunchtime, with CBA - the largest stock on the ASX - up 0.4 per cent, Westpac adding 0.9 per cent, National Australia Bank rising 1 per cent and ANZ Bank up 1.3 per cent. Mining and financial stocks make up more than half of the ASX, so even smaller moves can drive the market. IT stocks followed their peers on Wall Street higher, with local tech giant WiseTech Global up 2.9 per cent, while accounting software firm Xero rose 1.1 per cent. But it was dual-listed sleep device maker ResMed which posted the biggest rise this morning, climbing 6.9 per cent, after it reported an 8 per cent increase in revenue to US$1.3 billion ($2 trillion) for the third quarter. Other top gainers were US-focussed home sidings maker James Hardie, which was up 3.6 per cent, and rare earths miner Lynas, which was up 2.7 per cent.
