The ASX drifted lower on the second day of trading in the new year after investors sold off technology stocks on Wall Street and reined in their bets on the scale of interest rate cuts in the US.
The S&P/ASX200 closed 27.3 points,or 0.3 per cent lower,at 7590.8 on Friday,weighed down by all 11 sectors,which were trading in the red.
The Australian sharemarket is within 14 points of setting an all-time high after the local index rallied again on the back of rising iron prices.
The Australian sharemarket’s rally ran out of puff on the last trading day before Christmas and finished flat,despite early morning futures indicating the local bourse would rise in line with strong gains on Wall Street.
The Australian sharemarket has hit a 10-month high led by gains in all 11 sectors amid rising hopes that interest rates relief is coming.
The float of the Australian dollar 40 years ago today forged a shock absorber that helped the country weather decades of economic turbulence and to punch above its weight in global financial markets.
Coles raised the cost of 20 items it had previously “locked” to help households budget,as supermarkets face an inquiry on their pricing during the cost-of-living crisis.
Marketed as “the cruise that never ends”,Miray Cruises’ Life at Sea voyage will never set sail. And passengers are still out hundreds of thousands of dollars.
Soon after landing in the top-seat of Australian politics in 1983,Bob Hawke floated the Australian dollar. Here’s how it shaped our inflation battle.
After a mixed session,the Australian sharemarket closed 0.5 per cent higher as all sectors except energy and utilities companies advanced.
Anyone contemplating travelling to the US would be encouraged by a sudden jump in the value of the Australian dollar over the past fortnight. Here’s what is behind it.