Markets Live: Miners resist broad selloff
Local shares fall with materials the only sector posting a gain, after a choppy session on Wall Street that was dominated by politics.
Jens is the markets and breaking news editor, based in Sydney.
Local shares fall with materials the only sector posting a gain, after a choppy session on Wall Street that was dominated by politics.
Miners such as BHP are a bright spot in a market stuck in a tight trading range ahead of key central bank events.
Wall Street's positive mood spilled over to the local sharemarket, though buying lost some momentum in afternoon trade.
Wall Street's positive mood spilled over to the local sharemarket on Monday, though buying lost some momentum in afternoon trade.
Shares fall into the red as gains in the big banks evaporate and investors remain cautious following Friday's selloff.
Eurozone stocks are in favour and Macron's victory has only added to the region's popularity, but that makes it particularly vulnerable for profit taking.
Shares rebounded strongly from Wednesday's thrashing, while late news of a state-based bank tax undercut solid bank gains.
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.
Weak consumer sentiment data is the latest worrying sign for those expecting another rate cut, but optimists insist the slowdown is temporary.
The Australian market looks "tough", while Wall Street is still a great place to invest despite some "crazy valuations", State Street fund manager Olivia Engel says.
Search pagination
Save articles for later.
Subscribe for unlimited access to news. Login to save articles.
Return to the homepage by clicking on the site logo.