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Markets Live: ASX eyes 6000 points
Investors jump into shares buoyed by record highs and climbing confidence on Wall St, with banks leading the charge as ABS data shows inflation edging higher.
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.
Investors jump into shares buoyed by record highs and climbing confidence on Wall St, with banks leading the charge as ABS data shows inflation edging higher.
Inflation is up, but it's not happy reading: Prices for essentials such as petrol and power show the biggest jumps as wages are barely lifting and debts are high. It doesn't bode well for consumer spending.
ASX starts the week on the front foot after France's first round of presidential polling produces a market-friendly result, which helped push the euro to a five-month high.
Shares snap a three-session losing streak, thanks in large part to gains in the banks and as investors continued to jump into telcos.
Investors snap up beaten-up iron ore miners and telco stocks, but it's not enough to offset selling in the big banks and energy names.
Geopolitical tensions and further falls in iron ore sparked broad and solid selling on the sharemarket, while TPG is smashed as telcos stumble.
Caught between overheating property markets and signs of a moderating economy, the RBA will be praying for a solid jobs number this week.
Shares advanced after solid gains across mining and energy stocks helped the ASX overcome selling in the big banks.
Veteran emerging markets investor Mark Mobius says Asian business people are less vexed about Donald Trump than their Western counterparts.
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.
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