Monday Market Madness 19th March 2018
The divergence between leading economic indicators and other economic data continued with the latest NAB monthly business survey reporting another record high since it first began in 1997. This stands in contrast to tepid economic and wage growth for the average consumer.
Monday Market Madness 12th March 2018
Last week the Reserve Bank left the cash rate at 1.50% unchanged since August 2016. In the Board minutes, weak consumer inflation and wage inflation were cited as ongoing concerns as inflation continues to track below the Bank’s core target of 2%-3%. Some market observers have fixated on the reference to leading indicators as a sign that wage inflation may be reappearing. However, the Board was content with leaving policy settings unchanged and its Statement reflected this with minimal changes from the February 6 session.
Monday Market Madness 12th February 2018
The Australian share market turned around a weak start to the day to close higher, as bargain hunters bought stocks beaten up in Monday and Tuesday’s plunge. The benchmark S&P/ASX200 index was up 0.2 per cent at 5,890.7 points at 1630 AEDT, after falling 0.3 per cent in early trade. The Australian dollar is weaker against the US dollar, which is outperforming all major currencies as commodity prices ease. The local currency was at 78.25 US cents at 1630 AEDT, from 78.77 US cents on Wednesday. Ahead of the local open SPI futures were 104 points lower at 5,708.
Monday Market Madness 5th February 2018
The Australian stock market was somewhat volatile last week. The week had a solid start on Monday. This was then followed by a risk sell off, reaching the week lows early Wednesday morning. But, finally recovered into the end of the week. Investors pushed the market back above the 6000 level by Thursday. This was amid ongoing optimism for economic growth at home and overseas and a solid reporting season expected.
Monday Market Madness 29th January 2018
The Australian stock market recorded a steady performance last week. Investors pushed the market back to levels last seen at the middle of January. This is amid ongoing optimism for economic growth at home and overseas. The benchmark S&P/ASX 200 index gained 0.8% to 6055 points after falling by 1.1% last week. All major industry groups finished the week in positive territory. IT, Health Care and Energy were the best performing sectors.
Monday Market Madness 22nd January 2018
The Australian stock market recorded a poor performance last week and extended its losing streak to four sessions on Friday, as Investors contrasted a raft of company updates with sharp gains on Wall Street made amid optimism over corporate earnings trends. The benchmark ASX 200 index fell by 1.1% to 6006 points. Resources (Energy -4.3% and Materials -2.5%) and Telecom (-4.5%) stocks were at the forefront of losses. Consumer stocks took up residence on the other side of the spectrum.
Monday Market Madness 8th January 2018
Happy New Year!!! The pattern continues in 2018 with equities; the Dow Jones Industrial Average has sailed past 25,000 for the first time as the bull market rages on. Stocks rallied around the world on signs the global economic expansion that pushed benchmarks to records in 2017 remains intact.
Monday Market Madness 18th December 2017
The Australian market was modestly higher last week, helped by some Mergers & Acquisitions activity. Westfield spiked as the shopping mall giant announced that Europe’s largest listed property group, Unibail-Rodamco, wants to acquire Westfield in a cash and scrip offer valuing the company at A$10.01 per security as at 11 December.
Monday Market Madness 27th November 2017
The Australian market followed buoyant global markets higher last week. The Reserve Bank of Australia released minutes of its November board meeting which showed policymakers warning of “considerable uncertainty” about how quickly wages growth and inflation might pick up. This is despite the labour market performing more strongly than the central bank had expected over the past year. The market, however, shrugged off the central bank’s concerns over weak wages growth and soft inflation.
