Markets Live: Banks slam ASX into reverse
A powerful two-day rally in the ASX came to an abrupt end as banks swung from gains to losses, while a bumper jobs number pushes the Aussie higher.
A powerful two-day rally in the ASX came to an abrupt end as banks swung from gains to losses, while a bumper jobs number pushes the Aussie higher.
The ASX's strong two-day rally came to an abrupt end, as weak oil and the US rate hike proved reason enough for shares to retrace some of their recent gains.
The Australian dollar hit a two-month high on Thursday, boosted by positive local jobs data and a fall in the greenback after weak US inflation data.
Bell Potter veteran trader Richard Coppleson says by far the "biggest reason" markets are recovering was the positive boost from surging superannuation funds.
Weak consumer sentiment data is the latest worrying sign for those expecting another rate cut, but optimists insist the slowdown is temporary.
A record number of global fund managers believe sharemarkets to be overvalued after years of overstimulative monetary policy.
Wall Street ended lower, and the ASX is poised to open about 0.5 per cent lower, with futures pointing to a 30-point drop at the open.
Federal Reserve officials forged ahead with an interest-rate increase and additional plans to tighten monetary policy despite growing concerns over weak inflation.
One senior trader has attributed the ASX's second day of strong performances to investors cramming funds into superannuation accounts.
There are plenty of worries playing on the minds of iron ore investors, but Deutsche Bank says the slide is no doomsday scenario.
There is $27 billion worth of extra value waiting to be unlocked from eight ASX-listed stocks, says Credit Suisse, and activist investors are the ones with the keys.
Shares set to build on Tuesday's big day with more gains at the open.
The Australian dollar hit a two-month high on Thursday, boosted by positive local jobs data and a fall in the greenback after weak US inflation data.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7601 | 0.7597 | 0.0012rise | 0.16% rise |
AUD/EUR | 0.6796 | 0.6791 | 0.0031rise | 0.46% rise |
Updated: June 15, 2017 - 5:20PM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 11,964,716,649 | 2,703,615,026 | 1,203,215 |
Industrial | 9,774,168,363 | 1,432,293,587 | 971,315 |
Mining | 2,169,129,996 | 1,270,911,793 | 226,966 |
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
RRP | REALM RESOURCES LTD | 0.145rise | 0.041 | 0.041 |
ENT | ENTERPRISE METALS | 0.055rise | 0.035 | 0.045 |
ELS | ELSIGHT LTD | 0.195rise | 0.160 | 0.000 |
EQE | EQUUS MINING LTD | 0.023rise | 0.019 | 0.020 |
RND | RAND MINING LTD | 2.950rise | 2.470 | 2.150 |
LVH | LIVEHIRE LIMITED | 0.615rise | 0.520 | 0.540 |
IEL | IDP EDUCATION LTD | 5.100rise | 4.640 | 4.825 |
ASB | AUSTAL LIMITED | 2.020rise | 1.840 | 1.865 |
MLB | MELBOURNE IT LIMITED | 2.970rise | 2.760 | 2.640 |
BTC | BIOTECH CAPITAL | 0.155rise | 0.145 | 0.145 |
Updated: June 15, 2017 - 4:14PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
DMC | DIGIMATIC GROUP LTD | 0.050fall | 0.075 | 0.078 |
EFE | EASTERN IRON | 0.008fall | 0.011 | 0.011 |
SUR | SUN RESOURCES NL | 0.003fall | 0.004 | 0.004 |
MRQ | MRG METALS LIMITED | 0.007fall | 0.009 | 0.009 |
PCH | PROPERTY CONNECT | 0.004fall | 0.005 | 0.006 |
ICS | ICSGLOBAL LIMITED | 0.980fall | 1.200 | 1.220 |
QUR | QUANTUM RESOURCES | 0.009fall | 0.011 | 0.011 |
LCA | LITIGATION CAP LTD | 0.380fall | 0.460 | 0.490 |
1ST | 1ST GROUP LTD | 0.030fall | 0.036 | 0.036 |
ANP | ANTISENSE THERAPEUT. | 0.025fall | 0.030 | 0.031 |
Updated: June 15, 2017 - 4:10PM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Australia WeTouch Technology Limited | AWT | 31/07/2017 | 0.40 |
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 |
Galena Mining Limited | G1A | 10/07/2017 | 0.20 |
Golden Mile Resources Ltd | G88 | 29/05/2017 | 0.20 |
Kelly Partners Group Holdings Limited | KPG | 20/06/2017 | 1.00 |
Oliver's Real Food Limited | OLI | 14/06/2017 | 0.30 |
WAM Microcap Limited | WMI | 28/06/2017 | 1.10 |
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