Market Wraps

Market Wrap – 20th June 2018

Market Summary The Australian market closed slightly lower on Tuesday, after a solid open which saw the index rise more than 0.6%. Performing strongly on Tuesday, healthcare heavyweight CSL Limited (ASX: CSL) rose to a new-record high as the company continues to rally on the back of a strengthening US currency. Despite such, pessimism kicked

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Market Wrap – 19th June 2018

Market Summary The Australian market closed slightly higher as global trade tension continued to linger. Surprisingly (we are in 2018 after all!), the ‘big four’ banks drove the market higher; all (with the exception of Westpac) gaining in excess of 1% in Monday’s trading session. Further, businesses highly exposed to the US market went well

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Market Wrap – 18th June 2018

Market Summary The Australian market had its strongest single-day session since July 2017, rising 1.29% on Friday. As a result, the AX 200 recovered losses made earlier in the week, to close up 48.8 points (approximately 0.8%) for the trading week. US markets closed lower on Friday, though bounced off lows reached early in the

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Market Wrap – 15th June 2018

Market Summary The Australian market fell on Thursday as the index was dragged down by losses on index heavyweight, Commonwealth Bank of Australia (ASX: CBA), which hit a level not seen for almost five years (note that the stock fell 1.07% on Thursday to close at $67.45).  Interestingly, the index fell on the open, before

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Market Wrap – 14th June 2018

Market Summary  The Australian market fell on Wednesday as investors remained relatively cautious ahead of the US Federal Reserve’s interest rate decision. For Australian investors, the key in not the potential for an interest rate rise (as such was much anticipated), but rather in the rate hike projections for the rest of the year (whether

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Market Wrap – 13th June 2018

Market Summary The Australian market rose on Tuesday; the first session of a shortened trading week. Nonetheless, company-specific news took a back seat, to the much-anticipated summit between US President Donald Trump and North Korean Leader Kim Jong Un. Both leaders admitted that the meeting went better than both anticipated, and culminated in the signing

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Market Wrap – 12th June 2018

Market Summary The Australian market closed lower on Friday. Nonetheless, the ASX 200 rose just shy of 1% for the overall trading week, driven by US employment data that overwhelmingly exceeded market expectations. Major indices rose on Friday, however, remained put with the commencement of the G7 summit in Canada. Interestingly, Donald Trump had utilised

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Market Wrap – 8th June 2018

Market Summary The Australian market closed higher on Thursday; with broad support found from the ‘big four’ banks (shocker!), as well as the energy and materials sector, following continued gains to base metal prices. To the contrary, recently-maligned AMP, fell to their lowest ever closing price ($3.62), as Slater and Gordon became the fourth law

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Market Wrap – 7th June 2018

Market Summary The Australian market closed higher on Wednesday, essentially recovering the losses incurred in the previous trading session. The Australian market was led by the resource sector with a rise in base metal prices; whereas the index-heavy big-four banks, dragged the index (as has been the story for 2018!). The US markets rose on

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Market Wrap – 6th June 2018

Market Summary The Australian market closed lower on Tuesday despite economic data which support the strengthening of the Australian economy moving forward. Specifically, this stemmed from stronger-than-expected government spending as well as a narrowing current account deficit, for the first quarter of the 2018 calendar year. However, such optimism did not carry over into the

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