Tag Archives: CommSec

Australian stocks: Australian stocks are making cautious gains ahead of US election results | Instant News


Australian Shares closed higher on a caution note, as traders braced for jitters during US Presidential election week gold stock lead profit as uncertainty sparked bids for the safe-haven metal on Monday.

S & P / ASX 200 index closed up 0.4% at 5,951.30, following Friday’s 0.6% drop.

Global markets await hotly contested US elections, with Democrat Joe Biden taking the national lead over President Donald Trump. Nevertheless, Trump remains competitive in states that can determine White House elections.

“Some attention is turning to the outcome of who will hold the Senate, as the Biden White House without Democrats’ control of the Senate could still mean it is difficult to slow progress on a new fiscal stimulus package,” said James Tao, market analyst at CommSec.

Wall Street, along with global markets, has swayed wildly in volatility in the weeks leading up to US elections over the implementation of a stimulus deal to revive the pandemic-hit economy.

However, the market was cheered up after data from China signaled that factory activity in October had expanded at its fastest pace in a decade.

On the domestic front, the Australian gold index rose 1.1%, helped by rising gold prices, as increasing global uncertainty attracted investors to gold security.

Catalyst Metals was up 6.1% while Bellevue Gold was up 4%.

That heavyweight financial sector rose 0.4% after the nation’s second-largest lender Westpac posted full-year results and said it intends to return to its semi-annual dividend cycle.

“Westpac Bank this morning announced its intention to continue dividends. This is a positive for the finances today,” Smoling said.

AMP Ltd jumped 10% after the wealth manager said a proposed takeover offer from Ares Management implies a 21% premium to Friday’s closing price.

New Zealand’s benchmark S & P / NZX 50 index slumped 0.1% to 12,070.83.

Heartland Group Holdings fell 5.2% while Pacific Edge fell 4.2%.

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National Australia Bank: Australian stocks ended lower on fears of a prolonged economic recovery | Instant News


Australian stocks closed nearly 1% lower on Thursday, following losses on Wall Street, as new economic data from the United States cast doubt on the global recovery and hurt energy and local stocks. technology company.

The benchmark ASX 200 index closed 0.8% lower at 5,875.9. The index experienced the biggest increase in more than two months in the previous session.

Data showed US business activity fell in September, while a separate survey revealed business growth in the eurozone stalled. Both data sets raise concerns about global growth.

Fear dragged on global oil prices, with Beach Energy and Oil Search leading the decline among Australian energy stocks. Top gas producer Woodside Petroleum fell 2%.

James Tao, a market analyst at CommSec, saying any concerns over the US recovery “are not a good sign,” adding that growth concerns in Europe other than COVID-19 pose problems for a market that has rallied on hopes of a recovery in the economy.

Tech stocks were among the top losers, with Afterpay slumping more than 6% after announcing the resignation of its chief financial officer.

The drop at Westpac Banking Corp also weighed on after agreeing to pay a fine of A $ 1.3 billion ($ 915.07 million). But stocks pared losses later as some investors saw the fine mark an end to 10 months of uncertainty.

Among the “Big Four” peers, the Australian and New Zealand Banking Group and National Australia Bank up 0.1% -0.4%, meanwhile Commonwealth Bank of Australia lost 0.1%.

In New Zealand, the benchmark NZX 50 index edged down 0.1%.

Telecom provider Chorus made up the largest percentage of lags behind the benchmark, ending lower for the fourth straight session.

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Australian stocks fell for the second week as Covid-19 cases rose, disappointing US data | Instant News


By Soumyajit Saha

That Australian benchmark index fell on Friday to its lowest close in three weeks, posting a second consecutive weekly decline as gains corona virus cases raise fears of tighter lockouts and dismal data from the United States destroys risk sentiment.

The country recorded the deadliest day of the coronavirus pandemic on Thursday with 14 deaths, bringing the total death toll from the virus to 190, more than half of them in Victoria.

“That we can see tighter restrictions on Victoria because it continues to see improvements Covid-19 cases and groups that develop … will have a big impact on the overall economic performance of the country because they contribute a fair amount of output, “said James Tao, market analyst at CommSec.

Further weighing on sentiment, data showed that the US economy suffered the biggest blow since the Great Depression in the second quarter, largely due to the slump caused by viruses.

The S & P / ASX 200 index fell 2 percent to 5,927.8 points and fell 1.6 percent for the week. The index is up 0.5 percent for this month.

Among sectors, the energy subindex dropped by 4 percent to reach its lowest level in 2-1 / 2 months, with Woodside Petroleum and Santos Ltd. give up 2 percent and 3 percent, respectively.

Electric and gas retailers Original Energy down nearly 5 percent as it posted a decline in fourth-quarter revenue from its share in the Australia Pacific LNG (APLNG) project. Finance fell 2.8 percent, with the “big four” banks losing between 2.2 percent and 3.3 percent. Mining stocks fell 2.4 percent, with global miners BHP Group and Rio Tinto dropped 2.9 percent and 2.4 percent respectively.

AMP Ltd’s wealth manager is the biggest loser on the index, having said they expect underlying profits to be more than half in the first half.

New Zealand’s S & P / NZX 50 benchmark index ended 0.3 percent higher, helped by gains between health and industry stocks.

The index is up 0.8 percent for the week, and posted a 2.4 percent rise this month.

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Australian shares close higher on Fed pledges, technology shares shine | Instant News


Australian stock closed higher on Thursday as investors welcomed the Federal Reserve’s statement that they would use “various tools” to support the virus-ravaged US economy, with an additional increase in technology stocks ahead of a series of major US earnings.

The S & P / ASX 200 index closed 0.74% higher at 6,051.1, halting two consecutive sessions of decline.

Fed policymakers reiterated pledges to keep interest rates near zero for as long as needed to recover from a coronavirus pandemic, but warned that “the economic path will be highly dependent on the path of the virus”.

“The fact that the US Federal Reserve has some pretty dovish comments gives investors little confidence that there will be support, although we continue to see major cases Covid-19 in Australia, “said James Tao, a market analyst at Commsec.

Australia reports a record surge in new Covid-19 cases with at least 13 deaths and more than 700 new infections mainly in the state of Victoria.

“We have lower US futures at the moment, so we can see the US market giving back some of the recent gains … that might lead to a softer start for Aussie stocks tomorrow,” Tao said.

However, he said, “That is one situation where you cannot look too far ahead with much certainty.”

Most major sub-indices closed higher, with gold stocks the only drag after the gold price fell.

Technology shares led gains with a 2.4% increase, marking their best session in more than a week, afterwards Facebook , Apple and the Google Alphabet closed overnight higher than their earnings.

Among the top gainers, Afterpay Ltd and WiseTech Global rose 1.6% and 5.9% respectively.

Energy stocks closed 1% higher, helped by heavyweights Woodside Petroleum and Santos Ltd.

In New Zealand, the benchmark S & P / NZX 50 index rose 0.8% to 11,692.02, with top gainers Mainfreight Ltd and A2 Milk Co each rose by almost 3%.

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Australian shares close higher on Fed pledges, technology shares shine | Instant News


Australian stock closed higher on Thursday as investors welcomed the Federal Reserve’s statement that they would use “various tools” to support the virus-ravaged US economy, with an additional increase in technology stocks ahead of a series of major US earnings.

The S & P / ASX 200 index closed 0.74% higher at 6,051.1, halting two consecutive sessions of decline.

Fed policymakers reiterated pledges to keep interest rates near zero for as long as needed to recover from a coronavirus pandemic, but warned that “the economic path will be highly dependent on the path of the virus”.

“The fact that the US Federal Reserve has some pretty dovish comments gives investors little confidence that there will be support, although we continue to see major cases Covid-19 in Australia, “said James Tao, a market analyst at Commsec.

Australia reports a record surge in new Covid-19 cases with at least 13 deaths and more than 700 new infections mainly in the state of Victoria.

“We have lower US futures at the moment, so we can see the US market giving back some of the recent gains … that might lead to a softer start for Aussie stocks tomorrow,” Tao said.

However, he said, “That is one situation where you cannot look too far ahead with much certainty.”

Most major sub-indices closed higher, with gold stocks the only drag after the gold price fell.

Technology shares led gains with a 2.4% increase, marking their best session in more than a week, afterwards Facebook , Apple and the Google Alphabet closed overnight higher than their earnings.

Among the top gainers, Afterpay Ltd and WiseTech Global rose 1.6% and 5.9% respectively.

Energy stocks closed 1% higher, helped by heavyweights Woodside Petroleum and Santos Ltd.

In New Zealand, the benchmark S & P / NZX 50 index rose 0.8% to 11,692.02, with top gainers Mainfreight Ltd and A2 Milk Co each rose by almost 3%.

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