Australian Market Significantly Higher

RTTNews | 108 days ago
Australian Market Significantly Higher

(RTTNews) - Australian shares are trading significantly higher on Wednesday, extending the gains in the previous four sessions, with the benchmark S&P/ASX 200 moving a tad above the 8,000 mark, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks. The benchmark S&P/ASX 200 Index is gaining 60.30 points or 0.76 percent to 8,002.80, after touching a high of 8,004.20 earlier. The broader All Ordinaries Index is up 60.50 points or 0.74 percent to 8,227.20. Australian stocks ended slightly higher on Tuesday.

Among major miners, BHP Group and Rio Tinto are gaining more than 2 percent each, while Mineral Resources is advancing almost 4 percent and Fortescue Metals is adding almost 2 percent.

Oil stocks are mostly higher. Woodside Energy and Beach energy are adding more than 1 percent each, while Santos is up almost 2 percent and Origin Energy is gaining almost 1 percent.

In the tech space, Appen is advancing almost 2 percent, WiseTech Global is gaining almost 3 percent, Xero is edging up 0.4 percent and Zip is adding more than 2 percent, while Afterpay owner Block is losing more than 1 percent.

Among the big four banks, Commonwealth Bank, National Australia Bank and Westpac is gaining almost 1 percent each, while ANZ Banking is adding more than 2 percent.

Among gold miners, Evolution Mining and Northern Star Resources are edging up 0.1 to 0.2 percent each, while Resolute Mining and Newmont are gaining more than 2 percent each. Gold Road Resources is adding more than 1 percent.

In economic news, Australia's monthly Consumer Price Index (CPI) increased 2.4 percent on year in February 2025, down from a four-month high of 2.5 percent in the previous month, and below market expectations of 2.5 percent. This marked the lowest inflation rate since last November. The annual trimmed mean inflation edged down to 2.7 percent from 2.8 percent in January.

In the currency market, the Aussie dollar is trading at $0.630 on Wednesday.

On the Wall Street, stocks showed a lack of direction over the course of the trading day on Tuesday following the rally seen in the previous session. The major averages bounced back and forth across the unchanged line before eventually closing in positive territory for the third straight day.

The Nasdaq climbed 83.26 points or 0.5 percent to 18,271.86, the S&P 500 rose 9.08 points or 0.2 percent to 5,776.65 and the Dow inched up 4.18 points or less than a tenth of a percent to 42,587.50.

The major European markets also all moved to the upside on the day. While the U.K.'s FTSE 100 Index rose by 0.3 percent, the French CAC 40 Index and the German DAX Index both jumped by 1.1 percent.

Crude oil prices dipped on Tuesday on reports Russia and Ukraine have agreed to a partial ceasefire covering the Black Sea. West Texas Intermediate Crude oil futures for May closed lower by $0.11 at $69.00 a barrel.

read more
Swiss Market Ends Sharply Lower

Swiss Market Ends Sharply Lower

The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
RTTNews | 21h 54min ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment

European Stocks Close Weak As Trade War Fears Hurt Sentiment

European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
RTTNews | 22h 10min ago
Canadian Market Remains Weak On Tariff Concerns

Canadian Market Remains Weak On Tariff Concerns

After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
RTTNews | 22h 50min ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 1 day ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 1 day ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 1 day ago