ASX slips in final session as gold miners shine
Gold miners look set to end the year on a bright note, while selling in blue-chip names pushes the sharemarket lower in early trade on the final, shortened session of 2016.
Patrick Commins writes on Markets specialising in Equity Markets, Currencies, Debt Markets. Based in our Sydney newsroom, Patrick is Markets deputy editor and has over six years experience as a journalist.
Gold miners look set to end the year on a bright note, while selling in blue-chip names pushes the sharemarket lower in early trade on the final, shortened session of 2016.
Last time that rates were higher in the US than in Australia, the Aussie dollar plunged as low as 48 US cents. Could it fall again this low?
Many Australian shareholders will remember 2016 as the year miners roared back to life after a painfully long period in the doldrums, helping the ASX 200 to an impressive annual gain of 7 per cent.
Gains in resources and banks saw the ASX reverse early losses to hit a new high on 2016's second to last trading day.
Shares dipped in early trading as investors trim their holdings in the major banks and a host of listed trusts trade without the rights to their distributions.
Late profit-taking in the miners has pushed shares lower in a shortened pre-Christmas session, as Tatts rejects a competing offer from a Macquarie-led consortium.
The Australian dollar on Thursday night hit its lowest point since May as the currency is under pressure from a resurgent greenback and weakness in the iron ore price.
The Dow Jones index is now within spitting distance of 20,000 points for the first time. But is this a bullish or bearish signal?
After failing to raise rates all year, the market would be more shocked if the US Federal Reserve failed to tighten policy on Thursday.
All around the world, investors are asking: is this it?
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