Australian Market Significantly Lower

RTTNews | Před 643 dny
Australian Market Significantly Lower

(RTTNews) - The Australian stock market is significantly lower on Thursday, extending the losses in the previous two sessions, with the benchmark S&P/ASX 200 falling below the 7,200 level, following the broadly negative cues from global markets overnight, with losses across most sectors, led by mining stocks amid weaker metals prices.

The benchmark S&P/ASX 200 Index is losing 64.20 points or 0.89 percent to 7,192.90, after hitting a low of 7,184.60 earlier. The broader All Ordinaries Index is down 63.20 points or 0.85 percent to 7,398.40. Australian stocks ended significantly lower on Wednesday.

Among major miners, BHP Group is losing almost 4 percent and Fortescue Metals is down almost 1 percent, while Rio Tinto and Mineral Resources are slipping more than 1 percent each.

Oil stocks are mixed. Santos is edging down 0.1 percent and Woodside Energy is losing almost 1 percent, while Beach energy is gaining more than 3 percent and Origin Energy is edging up 0.3 percent.

In the tech space, Afterpay owner Block, Appen and WiseTech Global are losing more than 1 percent each, while Xero is edging down 0.5 percent. Zip is gaining almost 1 percent. Among the big four banks, Commonwealth Bank, Westpac and National Australia Bank are edging down 0.3 to 0.5 percent each, while ANZ Banking is losing almost 1 percent. Among gold miners, , Northern Star Resources and Gold Road Resources are losing more than 1 percent each, while Resolute Mining is gaining almost 3 percent. Evolution Mining and Newcrest Mining are flat.

In other news, shares in Austal are surging more than 4 percent after the shipbuilder won a $143 million contract with the US Navy.

In the currency market, the Aussie dollar is trading at $0.638 on Thursday.

On Wall Street, stocks saw further downside during trading on Wednesday after ending the previous session mostly lower. The major averages all decreased on the day, with the tech-heavy Nasdaq showing a notable decline.

The major averages climbed off their worst levels in afternoon trading but remained firmly negative. The Nasdaq tumbled 148.48 points or 1.1 percent to 13,872.47, the S&P 500 slid 31.35 points or 0.7 percent to 4,465.48 and the Dow fell 198.78 points or 0.6 percent to 34,443.19.

The major European markets have all also moved to the downside on the day. While the French CAC 40 Index slumped by 0.8 percent, the U.K.'s FTSE 100 Index and the German DAX Index both edged down by 0.2 percent.

Crude oil prices extended recent gains and moved higher on Wednesday, lifting the futures contract to a fresh nine-month closing high - fueled by the decision by Russia and Saudi Arabia to extend production cuts. West Texas Intermediate crude oil futures for October ended higher by $0.85 or 1 percent at $87.54 a barrel.

read more
Gold Dips As US-China Trade Talks Continue

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.
RTTNews | Před 1 h 19 min
Crude Oil Prices Fade As US-China Talks Progress

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.
RTTNews | Před 1 h 24 min
Canadian Dollar Appreciates Amid Risk Appetite

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.
RTTNews | Před 2 h 5 min
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.
RTTNews | Před 3 h 30 min
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
RTTNews | Před 3 h 46 min
TSX Up Marginally; Energy Stocks Rise

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
RTTNews | Před 4 h 53 min
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | Před 5 h 29 min
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | Před 8 h 24 min