Australian Market Significantly Higher

RTTNews | 884 days ago
Australian Market Significantly Higher

(RTTNews) - The Australian stock market is significantly higher on Monday, extending the gains in the previous three sessions, with the benchmark S&P/ASX 200 staying below the 7,200 level, following the broadly positive cues from global markets on Friday, with gains across most sectors, led by mining stocks after iron ore and gold prices firmed.

Data showing a drop in U.S. wage growth and a contraction in U.S. service sector activity in the month of December also helped ease concerns about aggressive policy tightening by the US Federal Reserve.

The benchmark S&P/ASX 200 Index is gaining 58.30 points or 0.82 percent to 7,167.90, after touching a high of 7,186.20 earlier. The broader All Ordinaries Index is up 61.80 points or 0.85 percent to 7,370.60. Australian stocks closed significantly higher on Friday.

Among the major miners, Rio Tinto is edging up 0.2 percent, BHP Group is gaining almost 2 percent and Mineral Resources is advancing more than 3 percent, while Fortescue Metals is edging down 0.5 percent. OZ Minerals is flat.

Oil stocks are higher. Woodside Energy and Santos are gaining more than 1 percent, while Beach energy is advancing almost 3 percent and Origin Energy is edging up 0.2 percent.

Among tech stocks, Afterpay owner Block is gaining almost 4 percent, Appen is adding almost 1 percent, Xero is advancing more than 2 percent, WiseTech Global is up more than 1 percent and Zip is rising almost 2 percent.

Gold miners are strong. Northern Star Resources is gaining more than 1 percent, Evolution Mining, Newcrest Mining are adding more than 2 percent, Gold Road Resources is edging up 0.4 percent and Resolute Mining is surging 4.5 percent.

Among the big four banks, Commonwealth Bank and Westpac are gaining almost 1 percent each, while National Australia Bank and ANZ Banking are adding more than 1 percent each.

In the currency market, the Aussie dollar is trading at $0.690 on Monday.

On Wall Street, stocks turned in a fine performance on Friday after opening on a slightly cautious note, and the major averages all ended with strong gains.

The Dow ended with a gain of 700.53 points or 2.13 percent at 33,630.61. The S&P 500 surged 86.98 points or 2.28 percent at 3,895.08, while the Nasdaq climbed 264.05 points or 2.56 percent to 10,569.29.

The major European markets also moved to the upside on the day. The U.K.'s FTSE 100 climbed 0.87 percent, Germany's DAX advanced 1.2 percent, and France's CAC 40 ended stronger by 1.47 percent.

Crude oil prices settled flat on Friday as fears of a global recession raised concerns about the outlook for energy demand. West Texas Intermediate Crude oil futures for February settled at $73.77 a barrel, up just 10 cents from the previous close.

read more
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 39 minutes ago
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | 48 minutes ago
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 49 minutes ago
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
RTTNews | 52 minutes ago
DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data

German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus. If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
RTTNews | 1h 1min ago
Asian Shares Climb On Trade Talk Optimism

Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
RTTNews | 2h 40min ago
Commodity Currencies Slide Amid Crude Oil Price Drop

Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
RTTNews | 3h 7min ago