Month: May 2018

Market Wrap – 1st June 2018

Market Summary The Australian market closed higher on Thursday, ending what can best be described as a ‘month of -two-halves’ in the positive. With respect to yesterday’s trading session, the overall index was driven by the energy and resources sectors, as oil and iron ore rebounded following recent downward pressure). Note that the index-heavy ‘big …

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Market Wrap – 31st May 2018

Market Summary The Australian market was plagued by political uncertainty in the European region (in particular Italy); closing at its lowest level since April 30. Interestingly, the financial sector alone wiped 27.6 points from the index, with the ‘big-five banks’ (including Macquarie Group) all closing firmly in the negative (ranging from 0.85% to 2.45% lower). …

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Market Wrap – 30th May 2018

Market Summary The Australian market edged higher on Tuesday, as the index-heavy ‘big-four’ banks led the index higher. More specifically, Commonwealth Bank, National Bank and Westpac rose 1.06%, 0.82% and 0.5% respectively; whereas Australia and New Zealand Banking Group fell a very slight 0.04%, after trading in the positive until the last thirty minutes of …

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Market Wrap – 24th May 2018

Market Summary The Australian market fell for a fifth consecutive trading session on Wednesday. As the Australian market has become accustomed to, losses are driven by weakness in the ‘big-four’ banks. Joining the banks yesterday was Santos Limited (ASX: STO),  after rejecting a final proposed takeover offer from US-bade Harbour Energy for $7 per share …

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Market Wrap – 23rd May 2018

Market Summary Despite a strong lead overnight from the United States, the Australian market recorded its largest daily loss for two months on Tuesday, as the index-heavy ‘big four banks’ (with the Royal Commission dragging) as well as telecommunications leader Telstra (downgraded by UBS with a target price of $2.80 as it has concerns over …

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Market Wrap – 22nd May 2018

Market Summary The Australian market closed lower in the first session of the new trading week after shares in index leader (by market-capitalisation) Commonwealth Bank of Australia fell to a 20-month low. The follows a Fairfax Media publication in which it highlighted the fraudulent activation of children bank accounts simply to boost performance against targets. …

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Market Wrap – 21st May 2018

Market Summary The Australian market closed lower on Friday to wrap up a volatile, yet opportunistic week of trading. Similarly, the US indices were lower on Friday (the Dow Jones Industrial Average was flat) as investor concern persist in relation to the trade negotiation progression between China and the United States. However, there is speculation …

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