Markets Live: Banks lead ASX comeback
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Bargain hunting among the oversold big banks as well as gains in the miners lead the ASX higher in afternoon trade.
Bargain hunting among the oversold big banks as well as gains in the miners lead the ASX higher in afternoon trade.
Altair CIO's bold decision to liquidate his Australian shares funds is highly contrarian. But his view that not all is well on the ASX is not.
Pressure is building for the lucky country.
Was Philip Parker's decision to get out of the market a principled and brave decision, a cop-out, or something else altogether?
With so many markets closed it was really a day to forget and the leads for the Aussie open are thin on the ground.
The euro area still needs expansive monetary stimulus to restore stable inflation, the European Central Bank chief said.
Altair Asset Management will liquidate its Australian shares funds and return "hundreds of millions" of dollars back to clients, citing an impending property market "calamity".
With no overseas cues to guide investor sentiment, selling in the banks and miners dragged the ASX 200 down 0.8 per cent towards 5700 points.
Global political uncertainty and fully valued share markets have investors turning to long-term megatrends to secure attractive returns.
The Australian dollar may fall below US70¢ by year end as one of its key drivers, the Aussie-US bond spread, dwindles to almost zero.
The British elections are getting tighter, which could mean a nervy couple of weeks for pound traders.
Local shares are set to start the week in positive territory on what is expected to be a light trading session with markets in China, the UK and the US closed for holidays.
The Australian dollar may fall below US70¢ by year end as one of its key drivers, the Aussie-US bond spread, dwindles to almost zero.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7428 | 0.7424 | -0.0012fall | -0.16% fall |
AUD/EUR | 0.6675 | 0.667 | 0.0010rise | 0.15% rise |
Updated: May 30, 2017 - 3:10PM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 2,697,754,987 | 1,102,579,355 | 813,472 |
Industrial | 2,272,624,579 | 499,650,350 | 695,988 |
Mining | 379,056,161 | 602,706,661 | 114,444 |
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
MEI | METEORIC RESOURCES | 0.039rise | 0.015 | 0.014 |
AFR | AFRICAN ENERGY RES | 0.090rise | 0.076 | 0.053 |
PFM | PACIFIC MINING LTD | 0.400rise | 0.350 | 0.350 |
CGR | CML GROUP LTD | 0.305rise | 0.270 | 0.280 |
VAN | VANGO MINING LTD | 0.070rise | 0.062 | 0.063 |
USF | US PRIVATE FUND | 2.400rise | 2.270 | 2.290 |
COI | COMET RIDGE LIMITED | 0.165rise | 0.160 | 0.160 |
SM1 | SYNLAIT MILK LTD | 3.850rise | 3.750 | 3.300 |
IEM | ISHS MSCI EMG MKTETF | 57.500rise | 56.270 | 53.820 |
ATL | APOLLO TOURISM | 1.410rise | 1.380 | 1.394 |
Updated: May 30, 2017 - 3:15PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
AHL | AHALIFE HOLDINGS LTD | 0.031fall | 0.039 | 0.035 |
BMP | BUYMYPLACE LIMITED | 0.150fall | 0.180 | 0.250 |
MRM | MMAOFFSHOR | 0.150fall | 0.180 | 0.215 |
PNX | PNX METALS LIMITED | 0.011fall | 0.013 | 0.015 |
AHX | APIAM ANIMAL HEALTH | 0.670fall | 0.785 | 1.100 |
UBN | URBANISE.COM LTD | 0.060fall | 0.069 | 0.084 |
CTO | CITIGOLD CORP LTD | 0.008fall | 0.009 | 0.010 |
GTG | GENETIC TECHNOLOGIES | 0.008fall | 0.009 | 0.009 |
AB1 | ANIMOCA BRANDS CORP | 0.025fall | 0.028 | 0.031 |
CXU | CAULDRON ENERGY LTD | 0.036fall | 0.040 | 0.045 |
Updated: May 30, 2017 - 3:12PM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Alderan Resources Limited | AL8 | 29/05/2017 | 0.20 |
Biomics Biopharma Limited | BBM | 02/06/2017 | 0.20 |
Bryah Resources Limited | BYH | 31/05/2017 | 0.20 |
Contango Global Growth Limited | CQG | 23/06/2017 | 1.10 |
Eagle Health Holdings Limited | EHH | 29/06/2017 | 0.40 |
Golden Mile Resources Ltd | G88 | 29/05/2017 | 0.20 |
Imagion Biosystems Limited | IBX | 30/05/2017 | 0.20 |
Oliver's Real Food Limited | OLI | 14/06/2017 | 0.30 |
WAM Microcap Limited | WMI | 28/06/2017 | 1.10 |
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