To use chat, please login.
Back to contacts

Australian Market Significantly Lower

RTTNews | 66 days ago
Australian Market Significantly Lower

(RTTNews) - The Australian stock market is significantly lower on Thursday, giving up the gains in the previous two sessions, with the benchmark S&P/ASX 200 falling below the 7,000 mark, following the broadly negative cues from Wall Street overnight, as traders reacted to the US Fed's decision to continue raising interest rates despite recent turmoil in the banking industry.

The benchmark S&P/ASX 200 Index is losing 58.00 points or 0.83 percent to 6,957.60, after hitting a low of 6,950.30 earlier. The broader All Ordinaries Index is down 63.00 points or 0.88 percent to 7,137.70. Australian stocks ended significantly higher on Wednesday.

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

Oil stocks are mostly lower. Origin Energy, Santos and Woodside Energy are edging down 0.2 to 0.3 percent each, while Beach energy is edging up 0.2 percent. In the tech space, Appen and Zip are losing almost 3 percent each, while Xero is down almost 2 percent, WiseTech Global is slipping almost 1 percent and Afterpay owner Block is declining more than 5 percent.

Among the big four banks, Commonwealth Bank and Westpac are edging down 0.3 to 0.4 percent each, while National Australia Bank and ANZ Banking are losing almost 1 percent each. Among gold miners, Northern Star Resources is gaining almost 2 percent, Evolution Mining is adding more than 2 percent, Newcrest Mining is up more than 1 percent and Resolute Mining is edging up 0.5 percent, while Gold Road Resources is edging down 0.4 percent.

In the currency market, the Aussie dollar is trading at $0.671 on Thursday.

On Wall Street, stocks showed a lack of direction throughout much of the session on Friday before coming under pressure in the final hour of trading. The major averages all moved sharply lower, with the tech-heavy Nasdaq pulling back after reaching its best intraday level in over a month.

The major averages finished the session at their worst levels of the day. The Dow plunged 530.49 points or 1.6 percent to 32,030.11, the Nasdaq tumbled 190.15 points or 1.6 percent to 11,669.96 and the S&P 500 dove 65.90 points or 1.7 percent to 3,936.97.

Meanwhile, the major European markets moved to the upside on the day. While the U.K.'s FTSE 100 Index climbed by 0.4 percent, the French CAC 40 Index rose by 0.3 percent and the German DAX Index inched up by 0.1 percent.

Crude oil futures settled higher on Wednesday after data showed that crude inventories rose by 1.117 million barrels last week. West Texas Intermediate Crude oil futures for May settled at $70.90 a barrel, gaining $1.23 or 1.8 percent.

read more
Swiss Market Ends On Firm Note On Positive Global Cues

Swiss Market Ends On Firm Note On Positive Global Cues

The Switzerland stock market briefly slipped into negative territory a little before noon on Friday, but recovered and gained in strength as the session progressed to eventually close on a bright note.
RTTNews | 1 day ago
U.S. Dollar Rebounds As Core PCE Inflation Picks Up

U.S. Dollar Rebounds As Core PCE Inflation Picks Up

The U.S. dollar rebounded against its major counterparts in the New York session on Friday, as stronger-than-expected core personal consumption expenditure price index for April strengthened expectations for another interest rate hike from the Federal Reserve.
RTTNews | 1 day ago
U.S. Consumer Sentiment Deteriorates Less Than Previously Estimated In May

U.S. Consumer Sentiment Deteriorates Less Than Previously Estimated In May

Consumer sentiment in the U.S. deteriorated less than previously estimates in the month of May, according to revised data released by the University of Michigan on Friday. The report said the consumer sentiment index for May was upwardly revised to 59.2 from the preliminary estimate of 57.7. Economists had expected the index to be unrevised.
RTTNews | 1 day ago
U.S. Consumer Price Growth Reaccelerates In April

U.S. Consumer Price Growth Reaccelerates In April

Consumer price growth in the U.S. reaccelerated in the month of April, according to a report released by the Commerce Department on Friday. The report said the annual rate of consumer price growth accelerated to 4.4 percent in April after slowing to 4.2 percent in March.
RTTNews | 1 day ago
U.S. Durable Goods Orders Unexpectedly Continue To Surge In April

U.S. Durable Goods Orders Unexpectedly Continue To Surge In April

A report released by the Commerce Department on Friday unexpectedly showed a continued surge in new orders for U.S. manufactured durable goods in the month of April. The Commerce Department said durable goods orders jumped by 1.1 percent in April after spiking by 3.3 percent in March.
RTTNews | 1 day ago
Novavax Says Nuvaxovid Recommended For Full Marketing Authorization For COVID In EU

Novavax Says Nuvaxovid Recommended For Full Marketing Authorization For COVID In EU

Biotechnology company Novavax, Inc. (NVAX) announced Friday that Nuvaxovid (NVX-CoV2373) has been recommended for full Marketing Authorization (MA) for use as a primary series in individuals aged 12 and older and as a booster in individuals aged 18 and older for the prevention of COVID-19 in the European Union (EU).
RTTNews | 1 day ago