Markets Live: Miners dig deep
Shares overcome a weak start to finish the session higher as investors jump into miners following the weekend's National People's Congress in China, while Navitas is smashed after an earnings downgrade.
Shares overcome a weak start to finish the session higher as investors jump into miners following the weekend's National People's Congress in China, while Navitas is smashed after an earnings downgrade.
BHP and Rio Tinto helped pull the sharemarket back from early losses on Monday, a welcome reverse of last week's falls.
Macroeconomic events have largely driven market sentiment in recent years, however some quant traders are now betting on a return to fundamentals.
Although iron ore's price gains defied predictions in 2016, many analysts now believe new supply, high inventories, and insufficient demand are setting iron ore up for sharp losses in the second half of this year.
The very first investor in what would become Snap was an Australian living in the US, whose initial $641,000 on behalf of his firm Lightspeed eventually led to billions in gains.
Local shares are poised to open higher after Janet Yellen all but confirmed US rates will rise this month.
It's more than a lifestyle outfit.
Warning signs are starting to appear as investors look beyond the now all-but-confirmed March US interest rate increase.
Shares overcome a weak start to finish the session higher as investors jump into miners following the weekend's National People's Congress in China, while Navitas is smashed after an earnings downgrade.
Neither soaring house prices nor a more hawkish US central bank will sway the RBA when it meets on Tuesday, but a rate hike may loom later in the year.
The Australian share market is set to open higher on Monday, clawing back roughly half the losses brought on by a fall in the US.
The S&P; 500 and Nasdaq closed out their sixth straight week of gains with a flat session.
Deutsche Bank is nearing a plan to boost its capital by $14 billion, through an equity offering and a partial asset sale.
The Australian dollar has plunged below the US76¢ mark amid a resurgence in its US counterpart.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7584 | 0.758 | -0.0014fall | -0.18% fall |
AUD/EUR | 0.7168 | 0.716 | 0.0022rise | 0.31% rise |
Updated: March 7, 2017 - 6:48AM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 3,657,356,750 | 2,108,468,215 | 913,238 |
Industrial | 2,751,160,121 | 658,235,201 | 735,358 |
Mining | 894,284,636 | 1,449,990,273 | 175,146 |
David Samra, awarded for his stock-picking during and after the 2008 financial crisis, says now's the time for a steady hand and no emotion.
The Sydney software company just released its first quarterly earnings report since listing on the Nasdaq late last year.Â
Markets are in a well-oiled "death spiral," analysts at Citigroup say.
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
OVR | OVERLAND RESOURCES | 0.018rise | 0.011 | 0.012 |
SAS | SKY AND SPACE GLOBAL | 0.245rise | 0.195 | 0.175 |
IVT | INVENTIS LIMITED | 0.018rise | 0.015 | 0.015 |
AC8 | AUSCANN GRP HLGS LTD | 0.440rise | 0.385 | 0.410 |
IRD | IRON ROAD LTD | 0.200rise | 0.180 | 0.180 |
SWJ | STONEWALL RES LTD | 0.020rise | 0.018 | 0.018 |
MOD | MOD RESOURCES LTD | 0.063rise | 0.057 | 0.053 |
RDS | REDSTONE RESOURCES | 0.022rise | 0.020 | 0.011 |
GSC | GLOBAL GEOSCIENCE | 0.140rise | 0.135 | 0.140 |
WAT | WATERCO LIMITED | 1.580rise | 1.540 | 1.500 |
Updated: March 6, 2017 - 4:26PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
HHM | HAMPTON HILL MINING | 0.015fall | 0.030 | 0.030 |
ZYB | ZYBER HOLDINGS LTD | 0.005fall | 0.008 | 0.007 |
MEM | MEMPHASYS LTD | 0.003fall | 0.004 | 0.003 |
KRC | KING RIVER COPPER | 0.005fall | 0.006 | 0.006 |
WLF | WOLF MINERALS | 0.065fall | 0.078 | 0.073 |
NVT | NAVITAS LIMITED | 4.120fall | 4.890 | 4.330 |
SKN | SKIN ELEMENTS LTD | 0.120fall | 0.140 | 0.150 |
SRO | SHAREROOT LTD | 0.006fall | 0.007 | 0.007 |
RVA | REVA MEDICAL, INC | 0.865fall | 1.000 | 0.880 |
XPE | XPED LIMITED | 0.022fall | 0.025 | 0.026 |
Updated: March 6, 2017 - 6:50PM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Automotive Solutions Group Ltd | 4WD | 16/12/2016 | 1.00 |
Ardea Resources Ltd | ARL | 09/01/2017 | 0.20 |
Axsesstoday Ltd | AXL | 21/12/2016 | 1.00 |
Blockchain Global Ltd | BCG | 0.20 | |
Blackstone Minerals Ltd | BSX | 20/12/2016 | 0.20 |
Cobalt Blue Holdings Ltd | COB | 19/12/2016 | 0.20 |
Davenport Resources Ltd | DAV | 27/10/2016 | 0.75 |
Dreamscape Networks Ltd | DN8 | 02/12/2016 | 0.25 |
Dragontail Systems Ltd | DTS | 10/11/2016 | 0.20 |
E2 Metals Ltd | E2M | 02/12/2016 | 0.20 |
Eildon Capital Ltd | EDC | 02/02/2017 | 1.06 |
Freehill Mining Limited | FHS | 12/12/2016 | 0.20 |
GetSwift Ltd | GSW | 0.20 | |
HearMe Out Limited | HMO | 13/12/2016 | 0.20 |
Horizon Gold Ltd | HRN | 14/12/2016 | 0.40 |
India Fund Limited | INF | 1.00 | |
Inghams Group Limited | ING | 07/11/2016 | 4.14 |
Integrated Payment Technologies Limited | IP1 | 02/12/2016 | 0.20 |
I Synergy Group Limited | IS3 | 22/12/2016 | 0.20 |
Kalium Lakes Ltd | KLL | 19/12/2016 | 0.20 |
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