The local share market has gained ground after Democrats and Republicans in Washington reached a deal over the weekend to avoid a cataclysmic debt default. While the US debt-ceiling deal still needs to pass Congress – which is not assured, with some conservatives and progressives finding fault with it – shares on the Australian Securities…
Australian Stock Market Finishs 2022 Down 5.45 Percent
The local share market has ended a dismal year with a bit of a whimper. After being up as many as 53 points in early trading and again close to that by late afternoon, the benchmark S&P/ASX200 index fell steadily in the final 30 minutes of trading to close Friday up just 18.6 points, or…
Australian Stocks Near Five-Month High
The local share market has jumped to a six-day high and is close to its best level in five and a half months. The benchmark S&P/ASX200 index was up 35 points to 7174.3 at noon AEDT on Tuesday, a rise of 0.49 percent. The broader All Ordinaries was up 32.8 points to 7367.9, a 0.45…
Australian Stocks Plunge 2.6 Percent
The local stock exchange has dropped sharply, tumbling along with markets around the world after a worse-than-expected US inflation report raised the prospect of even more aggressive rate hikes in the world’s largest economy. The benchmark S&P/ASX200 dropped 184 points in the first 10 minutes of trading on Wednesday and more or less treaded water…
Australian Stock Exchange Rises Again in Fourth Day of Gains
The local share market has closed higher for a fourth straight day, finishing above the 7000 level for the first time in two and a half weeks ahead of another monthly report on U.S. inflation. The benchmark S&P/ASX200 index on Tuesday closed up 45.2 points, or 0.65 per cent, to 7009.7. The broader All Ordinaries…
Australian Shares Rally After Three Losing Sessions
The Australian stock market has gained momentum after experiencing losses for three sessions, with share prices of major energy and financial companies trending up. The benchmark S&P/ASX200 index went up 92.7 points, or 1.42 percent, to 6,632.6 at 1200 AEST on July 4. At the same time, the All Ordinaries index, which tracks the 500…
Australian Stock Market Drops to 19-Month Low
The Australian Securities Exchange (ASX) has plummeted to the lowest level since November 2020 as international markets fell due to intensified worries about the world economy. As of noon on June 17, the benchmark S&P/ASX200 index dropped 2.23 percent to 6,452.9, while All Ordinaries went down 2.12 percent to 6,641.7. “The backdrop for equities right…
Australian Telco Giant CEO Andrew Penn Announces Retirement
Andrew Penn, the chief executive officer (CEO) of Australian telecommunications giant Telstra, has announced his intention to retire after more than seven years in the role. Telstra Chairman John Mullen said Penn, who joined the company as CFO in 2012 and has been the CEO since 2015, would leave with a positive and enduring legacy….
Virucidal Spray for the Common Cold to Be Listed on ASX
An Australian pharmaceutical firm that is developing the first virus-killing nasal spray for colds is set to be listed on the ASX on Jan. 28. Firebrick Pharma co-founder Peter Molloy said he’s been working on the spray, Nasodine, for almost ten years as a treatment for the common cold. “It appeared to me that if…
Shares Stumble on ASX as High Inflation Worries Investors
Shares took the second sharpest nosedive of the year on the ASX when higher than expected inflation data intensified fears that the Reserve Bank of Australia would push up interest rates. The market exacerbated early losses on Jan. 25 after the December quarter data showed the annual inflation rate increased to 3.5 percent. This higher…
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