Markets Live: ASX breaks new ground
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The ASX continues to push higher after hitting a near-two year peak yesterday, as banks and miners climb in unison, while Fairfax shares spike to their highest since 2011 on talk of a private equity offer.
The ASX continues to push higher after hitting a near-two year peak yesterday, as banks and miners climb in unison, while Fairfax shares spike to their highest since 2011 on talk of a private equity offer.
With Wall Street defying gravity, most are looking elsewhere for value but some investors are still drawn to the US market.
The bulls have taken over again as the US and European market caught a bid with triple digit gains in the DOW and solid gains in the commodities space. The bullish picture for equities remains as the blame game around the failed repeal of the Obama healthcare act and politics in general take a back seat once again to real economic growth.
Fed vice chair Stanley Fischer said policymakers' median estimate for two more rate hikes this year "seems about right".
US consumer confidence surged to a more than 16-year high in March amid growing labour market optimism.
Solomon Lew's raid on Myer's shares this week will determine the future of the grand old dame of Australian department store retailing.
The ASX surged to its highest close in two years on Tuesday, thanks to a strong performance by the big banks.
With US equity markets deemed ripe for a correction, an increasing number of global fund managers are eyeing European stocks.
The ASX continues to push higher after hitting a near-two year peak yesterday, as banks and miners climb in unison, while Fairfax shares spike to their highest since 2011 on talk of a private equity offer.
Bill Gross and Pacific Investment Management Co have settled a breach of contract suit the money manager filed in 2015.
Iron ore fell, extending its retreat from its February peak to 14 per cent, as Chinese steel inventories edge ever higher.
It is a stretch to believe anyone has really bought into the idea that the Trump administration can really deliver on far-reaching tax reform. But what we can see, is that to a large extent it isn't going to worry them too much either. This is a Teflon market where literally nothing sticks.
Myer's shares have soared 18 per cent after a mystery buyer snapped up a significant stake in the company in a late spree.
Mexico's peso is undervalued by as much as 10 per cent, according to the governor of the nation's central bank.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7645 | 0.7644 | 0.0011rise | 0.14% rise |
AUD/EUR | 0.7067 | 0.7065 | 0.0007rise | 0.10% rise |
Updated: March 29, 2017 - 11:40AM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 1,521,877,444 | 886,521,460 | 287,394 |
Industrial | 1,218,095,797 | 282,705,178 | 232,413 |
Mining | 275,670,247 | 603,620,859 | 52,308 |
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 |
---|---|---|---|---|
ESE | ESENSE-LAB LTD | 0.570rise | 0.430 | 0.295 |
TLG | TALGA RESOURCES | 0.510rise | 0.410 | 0.435 |
MMJ | MMJ PHYTOTECH LTD | 0.830rise | 0.670 | 0.365 |
AFR | AFRICAN ENERGY RES | 0.064rise | 0.054 | 0.045 |
AMO | AMBERTECH LIMITED | 0.200rise | 0.170 | 0.160 |
FXJ | FAIRFAX MEDIA LTD | 1.145rise | 1.030 | 0.960 |
GTK | GENTRACK GROUP LTD | 3.760rise | 3.400 | 3.300 |
MDC | MEDLAB CLINICAL LTD | 0.960rise | 0.900 | 0.845 |
KGL | KGL RESOURCES LTD | 0.450rise | 0.425 | 0.315 |
SOL | SOUL PATTINSON (W.H) | 18.160rise | 17.540 | 16.750 |
Updated: March 29, 2017 - 11:48AM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
KTA | KRAKATOA RESOURCES | 0.064fall | 0.210 | 0.210 |
MJP | MARTIN AIRCRAFT LTD | 0.110fall | 0.125 | 0.130 |
YOW | YOWIE GROUP | 0.380fall | 0.425 | 0.425 |
HFR | HIGHFIELD RES LTD | 0.850fall | 0.935 | 1.000 |
SBB | SUNBRIDGE GROUP LTD | 0.012fall | 0.013 | 0.014 |
YPB | YPB GROUP LTD | 0.125fall | 0.135 | 0.155 |
SRY | STORY-I LIMITED | 0.043fall | 0.046 | 0.046 |
MZZ | MATADOR MINING LTD | 0.225fall | 0.240 | 0.000 |
ALF | AUSTRALIAN LEADERS | 1.270fall | 1.345 | 1.290 |
NRT | NOVOGEN LIMITED | 0.067fall | 0.069 | 0.081 |
Updated: March 29, 2017 - 11:48AM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Visioneering Technologies, Inc. | CTI | 27/03/2017 | 0.42 |
De.mem Limited | DEM | 21/03/2017 | 0.20 |
G Medical Innovations Holdings Limited | GMV | 31/03/2017 | 0.20 |
Magmatic Resources Limited | MAG | 24/03/2017 | 0.20 |
Morphic Ethical Equities Fund Limited | MEC | 03/05/2017 | 1.10 |
Mobilicom Limited | MOB | 05/05/2017 | 0.20 |
Moelis Australia Pty Ltd | MOE | 10/04/2017 | 2.35 |
Retech Technology., Co Limited | RTE | 20/04/2017 | 0.50 |
Scout Security Limited | SCT | 21/04/2017 | 0.20 |
Tinybeans Group Pty Ltd | TNY | 31/03/2017 | 1.00 |
Todd River Resources Limited | TRT | 24/03/2017 | 0.20 |
URB Investments Limited | URB | 07/04/2017 | 1.10 |
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