The sharemarket's seemingly relentless rise towards the elusive 6000-point threshold suffered a setback on Wednesday, as heavy selling in the big banks and major miners handed the ASX its worst session in six weeks.
Investors have savaged Vocus Group after it unveiled its second profit downgrade in seven months.
Claudio Borio's work with Philip Lowe 15 years ago may tell us whether the RBA governor will ultimately hike rates to tame a housing bubble.
The ASX's seemingly relentless rise towards the elusive 6000-point threshold suffered a setback on Wednesday after heavy selling in the big banks.
Apple reported a surprise fall in iPhone sales for the second quarter on Tuesday, indicating that customers had held back purchases in anticipation of the 10th-anniversary edition launch of the company's most important product.
​The US dollar will likely continue to be on a gentle weakening pattern, said the chief executive at DoubleLine Capital.
The local sharemarket is set to drift lower at the open, following global markets down as investor caution returned.
The US Federal Reserve is expected to leave policy untouched this week, a moment of calm.
The largest auto makers in the US sparked concerns that years of high-flying demand are over.
Disappointing ANZ earnings triggered a sell-off in the big banks on Tuesday, but gains in property trusts helped limit the losses.
If investors are counting on the banks to help take the index over the 6000 line, they may be disappointed.
Analysts are optimistic another OPEC production cut agreement will eventuate but the prospect of surging shale activity in the US has investors wary.
​The US dollar will likely continue to be on a gentle weakening pattern, said the chief executive at DoubleLine Capital.
| Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
|---|---|---|---|---|
| AUD/USD | 0.7461 | 0.7453 | -0.0082fall | -1.09% fall |
| AUD/EUR | 0.6838 | 0.6829 | -0.0064fall | -0.93% fall |
| Updated: May 4, 2017 - 4:00AM | ||||
| Sector | Turnover ($AU) | Volume | Trades |
|---|---|---|---|
| Market total | 6,007,354,338 | 2,166,126,464 | 1,156,012 |
| Industrial | 4,751,961,041 | 1,017,911,637 | 965,639 |
| Mining | 1,239,150,411 | 1,147,786,891 | 185,865 |
| Code | Name | New Highs | Last Week | Last Month |
|---|---|---|---|---|
| GSC | GLOBAL GEOSCIENCE | 0.215rise | 0.170 | 0.190 |
| IMC | IMMURON LIMITED | 0.700rise | 0.590 | 0.590 |
| BNR | BULLETIN RES LTD | 0.040rise | 0.034 | 0.039 |
| KEY | KEY PETROLEUM | 0.007rise | 0.006 | 0.007 |
| PAC | PACIFIC GRP LTD | 5.940rise | 5.190 | 5.190 |
| GED | GOLDEN DEEPS | 0.034rise | 0.030 | 0.033 |
| MLB | MELBOURNE IT LIMITED | 2.430rise | 2.224 | 2.303 |
| GFL | GLOBAL MASTERS FUND | 1.990rise | 1.860 | 1.860 |
| WTC | WISETECH GLOBAL LTD | 6.290rise | 5.890 | 5.890 |
| API | AUSTRALIAN PHARM. | 2.380rise | 2.230 | 2.230 |
| Updated: May 3, 2017 - 6:50PM | ||||
| Code | Name | New Lows | Last Week | Last Month |
|---|---|---|---|---|
| BML | BOTSWANA METALS LTD | 0.001fall | 0.002 | 0.002 |
| MXR | MAXIMUS RESOURCES | 0.001fall | 0.002 | 0.002 |
| SRN | SUREFIRE RESCS NL | 0.001fall | 0.002 | 0.001 |
| EMX | ENERGIA MINERALS LTD | 0.022fall | 0.039 | 0.038 |
| GCR | GOLDEN CROSS | 0.012fall | 0.019 | 0.014 |
| IVX | INVION LTD | 0.002fall | 0.003 | 0.002 |
| VOC | VOCUS GROUP LTD | 2.350fall | 3.310 | 3.010 |
| AHF | AUS DAIRY FARMS | 0.100fall | 0.137 | 0.137 |
| LIT | LITHIUM AUSTRALIA NL | 0.092fall | 0.125 | 0.125 |
| KIS | KING ISLAND | 0.031fall | 0.042 | 0.042 |
| Updated: May 3, 2017 - 6:50PM | ||||
| Company | Security Code | Float date | Issue $ |
|---|---|---|---|
| Alderan Resources Limited | AL8 | 29/05/2017 | 0.20 |
| Biomics Biopharma Limited | BBM | 02/06/2017 | 0.20 |
| Benjamin Hornigold Limited | BHD | 10/05/2017 | 1.00 |
| Bingo Industries Limited | BIN | 03/05/2017 | 1.80 |
| Big River Industries Limited | BRI | 01/05/2017 | 1.46 |
| Eagle Health Holdings Limited | EHH | 29/06/2017 | 0.40 |
| Elsight Limited | ELS | 19/05/2017 | 0.20 |
| Morphic Ethical Equities Fund Limited | MEC | 03/05/2017 | 1.10 |
| Manuka Resources Ltd | MKR | 17/05/2017 | 0.20 |
| Mobilicom Limited | MOB | 02/05/2017 | 0.20 |
| MSL Solutions Limited | MPW | 04/05/2017 | 0.25 |
| Takor Group Ltd | TKO | 15/05/2017 | 0.20 |
| UUV Aquabotix Ltd | UUV | 28/04/2017 | 0.20 |
Save articles for later.
Subscribe for unlimited access to news. Login to save articles.
Return to the homepage by clicking on the site logo.
