ASX snaps losing streak as CSL soars
Shares nudged higher thanks to some buying in the banks, but slides in Telstra and energy stocks as well as investor caution kept a cap on gains.
Jens is the markets and breaking news editor, based in Sydney.
Shares nudged higher thanks to some buying in the banks, but slides in Telstra and energy stocks as well as investor caution kept a cap on gains.
Faltering domestic growth rather is likely to keep investors on their toes this week but fears of an impending sharp correction in the sharemarket seem overdone.
New records in global shares lit a fire under the ASX on the final day of trade, with Friday's solid gains helping shares eke out a small gain over the week.
Australia's shrinking yield advantage over the US has stirred the Aussie dollar bears, but the currency is deemed unlikely to plunge hard.
The sharemarket recouped early losses on Thursday, as gains in resource stocks offset a terrible session for retailers.
The Australian dollar took a hit after a surprise cut to China's credit ratings, but local shares have steadied following initial wobbles.
The reflation trade that fuelled last year's rally still has life in it, the world's largest asset manager says.
Shares rise, led by miners and energy stocks, taking leads from Wall Street as well as strong metal prices.
Talk of a new tax on the big banks and an underwhelming CBA trading update triggered a vicious sell-off in the big four lenders.
A likely improvement in the budget outlook should keep the rating agencies at bay, despite more spending for infrastructure.
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Shares end marginally higher, as gains in the big banks offset a dive in Telstra shares, amid an overall cautious mood.
Shares extend yesterday's rally, led up by the big banks and energy stocks, while BHP gives back some of yesterday's outsized jump.
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Shares advanced after solid gains across mining and energy stocks helped the ASX overcome selling in the big banks.
The local sharemarket extended Tuesday's strong gains to hit another near two-year high, with banks once again at the vanguard of the rally.
The ASX hits a fresh 2017 closing high thanks to a surprisingly strong performance of the big banks.
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