Nadine McGrath

After a topsy-turvy week the ASX has closed the week in the red, down 0.83% but finished Friday?s session 0.5% higher at 7308 points. Uilities led the gainers by 1.18% while consumer staples companies were the laggards, down 0.93%.

Looking at the top 5 biggest gainers in afternoon trade, Southern Cross Media was the best performing stock gaining 6.53%. Boral added 6.38%. Pinnacle Investment Management rose 5.05%. Tassal Group and Adbri rose higher by 5.04% and 4.88% respectively.

New Hope Corporation was the worst performing stock on the ASX/200, down 7.61%. Pilbara Minerals was lower by 3.88% with Jumbo Interactive also losing ground at 3.32%. Wisetech Global and Seven Holdings finished lower, down 2.76% and 2.64% respectively.

Making headlines, Australian coal producers may be forced to self-insure, while the exit of the big four banks will cause international financials may force international lenders to quit lending to the sector, Whitehaven Coal told a federal parliamentary inquiry. Global insurers, along with banks and other industries, have come under increasing pressure from shareholders and climate activists to stop facilitating fossil-fuel mining projects, which Whitehaven said was having an impact on operating costs.

In further news, Seven Group has raised its all-cash offer in Boral from $6.50 a share to $7.30 on the condition it secures acceptances necessary to increase its stake to 29.5% by July 2. The offer would increase to $7.40 if Seven Group secures acceptances necessary to raise its stake to 34.5% by July 7. Shares in Boral rose upon news of the increased offer.

The Aussie dollar is trading higher against the Greenback and is currently buying 75.97 US cents, 84 Japanese Yen and 63.59 Euro cents.

Bitcoin is trending higher, trading at US$34,494 at 4:52 PM AEST.

In commodities, iron ore is 1.27% lower at US$206.74 per metric ton while gold has risen to 0.23% to now be worth US$1,779.24 an ounce. West Texas Crude oil is up 0.30% at US$73.30 per barrel while Brent oil is also higher by 0.49% at US$75.56 per barrel.

The ASX has seasawed in morning trade as investor sentiment took a hit following news four local Sydney areas will be locked down due to rising Covid-19 cases. The market rose 0.4% at the open but dropped back to an intraday low of 7295.5 points. It has since rallied 31 points to be at 7305.4 at 12.28pm. The materials sector is leading the gainers by 1.14% while health care companies are down 0.83%.

Looking at the top 5 biggest gainers in morning trade, Southern Cross Media is the best performing stock gaining 6.03%. Tassal is up 5.32% with The a2 Milk Company also adding 4.59%. Bluescope Steel and Pinnacle Investment Management are currently trading higher by 4.06% and 3.12% respectively.

New Hope Corporation is the worst performing stock on the ASX/200, currently down 6.52%. Wisetech Global is lower by 3.13% with Woolworths also losing ground at 2.81%. Jumbo Interactive and Virgin Money Uk Plc are currently trading lower, down 2.49% and 2.26% respectively.

Making headlines, the board of lithium miner Pilbara Minerals has approved a staged restart at its Ngungaju operation during the December quarter. Pilbara also forecasts record spodumene concentrate shipments of 96,000 dmt should be achieved for the June 2021 quarter, exceeding guidance of 75,000 to 96,000 dmt.

In further news, Flight Centre will grant share rights to employees who continue at the company until the end of 2022. Under the 'global recovery rights' program participants will receive a one-off grant of 250 share rights which will vest in February.

The Aussie dollar is trading higher against the Greenback and is currently buying 75.91 US cents, 84 Japanese Yen and 63.58 Euro cents.

Bitcoin is trending higher, trading at US$35,227 at 12:30 PM AEST.

In commodities, iron ore is 1.27% higher at US$206.74 per metric ton while gold has fallen to 0.20% to now be worth US$1,778.76 an ounce. West Texas Crude oil is up 0.32% at US$73.08 per barrel while Brent oil is also higher by 0.49% at US$75.56per barrel.

June 24 -- The ASX has closed 0.3% lower to 7275.3 points. The health care sector led declines, down 1.8% while information technology was higher by 2.07%.

Looking at the top 5 biggest gainers in afternoon trade, Jumbo Interactive was the best performing stock gaining 8.07%. Pro Medicus rose 6.9% with Afterpay also adding 6.18%. Perenti Global and Pilbara Minerals are trading higher by 3.69% and 3.40% respectively.

Woolworths was the worst performing stock on the ASX/200, down 11.2%. Northern Star Resources was lower by 3.69% with Boral also losing ground at 3.63%. Charter Hall and Csl traded lower, down 3.06% and 2.6% respectively.

Making headlines, Dan Murphy?s and BWS bottle shop owner Endeavour Group today made its debut on the ASX following its separation from parent company Woolworths. Shareholders of Australia?s largest supermarket received one Endeavour share for each security held. Shares in Woolworths fell heavily today without the benefit of the liquor and hotel business. The closing price for Endeavour shares was $6.02.

The Aussie dollar is trading higher against the Greenback and is currently buying 75.82 US cents, 84 Japanese Yen and 63.51 Euro cents.

Bitcoin is trending higher, trading at US$32,970 at 5:21 PM AEST.

In commodities, iron ore is 2.28% higher at US$209.40 per metric ton while gold has fallen to 0.01% to now be worth US$1,777.08 an ounce. West Texas Crude oil is up 0.32% at US$73.08 per barrel while Brent oil is also higher by 0.51% at US$75.19 per barrel.

June 23 -- The ASX has closed the mid-week session 0.6% lower at 7298.5 points as COVID-19 restrictions hit greater Sydney and undermined investor sentiment. Health care stocks led the declines, down 1.36% while the information technology was higher by 1.1%.

Looking at the top 5 biggest gainers in afternoon trade, Washington H Soul Pattinson & Company was the best performing stock gaining 8.46%. Boral was up 4.53% with Bravura Solutions also adding 3.43%. Appen and Afterpay traded higher by 3.28% and 3.17% respectively.

Cooper Energy was the worst performing stock on the ASX/200, down 5.88%. Pro Medicus was lower by 5.27% with GWA also losing ground at 3.65%. Flight Centre Travel and InvoCare traded lower, down 3.52% and 3.11% respectively.

Making headlines, Australia?s exports rose by $3.7b or 11% in May to hit $39.2b, driven primarily by iron ore exports, according to Australian Bureau of Statistics figures released today. Despite ongoing trade tensions with Beijing, the value of iron ore exports to china grew by $2.2 billion or 20% in May.

The Aussie dollar is trading lower against the Greenback and is currently buying 75.52 US cents, 83.74 Japanese Yen and 63.34 Euro cents.

Bitcoin is trending higher, trading at US$33,942 at 5:16 PM AEST. In commodities, iron ore was 2.87% lower at US$210.19 per metric ton while gold has risen 3.46% to now be worth US$1,780.92 an ounce. West Texas Crude oil is down 0.37% at US$72.85 per barrel while Brent oil is lower by 0.12% at US$74.81 barrel.

June 23 -- The ASX is lower at midday with health care leading declines, down -1.44% while information technology is higher by 1.54%.

Looking at the top 5 biggest gainers in morning trade, Pilbara Minerals is the best performing stock gaining 6.55%. Washington H Soul Pattinson & Company is up 4.92% with Bravura Solutions also adding 4%. Afterpay and Pinnacle Investment Management are trading higher by 3.01% and 2.51% respectively.

Cooper Energy is the worst performing stock on the ASX/200, currently down 3.14%. Avita Medical is lower by 2.96% with Santos also losing ground at 2.67%. Flight Centre Travel and Bank of Queensland are currently trading lower, down 2.43% and 2.38% respectively.

Making news, Woolworths will face a $50m non-cash impairment charge from its metro food stores network as sales from COVID-19 have negatively impacted CBD and key public transit locations. Woolworths announced the charge is in relation to store and lease assets across 13 stores within the network.

In further news, the Commonwealth Bank has forecast the Reserve Bank of Australia will lift the official cash rate to 0.25% from 0.1% in November 2022. The CBA has forecast it will hike the rate to 0.5% in December 2022, followed by three increases in 2023 to be at 1.25% by Q3.

The Aussie dollar is trading lower against the Greenback and is currently buying 75.41 US cents, 84 Japanese Yen and 63.25 Euro cents.

Bitcoin is trending higher, trading at US$33,862 at 12:18 PM AEST.

In commodities, iron ore has dropped 2.87% to US$204.74 per metric ton while gold has risen 2.0% to now be worth US$1,780.97 an ounce. West Texas Crude oil is up 2.57% at US$73.12 per barrel while Brent oil is lower by 0.12% at US$74.81 per barrel.

June 22 -- The ASX has clawed back much of yesterday?s heavy losses to have its best day in more than three months. The market has closed up 106.9 points to 7342.2, recovering much of yesterday?s falls. Energy stocks led the gainers by 2.24% while health care companies were down 0.63%.

Pilbara Minerals was the best performing stock gaining 7.41%. Igo was up 6.22% with Bank of Queensland also adding 5.47%. Galaxy Resources and Worley traded higher by 4.94% and 4.48% respectively making up the top five leading stocks within the ASX/200.

Bravura Solutions was the worst performing company on the ASX, down 4.11%. Nufarm waas lower by 2.17% with Appen also losing ground at 1.79%. JB Hi-Fi and Southern Cross Media Group traded lower, down 1.59% and 1.49% respectively.

Making headlines, Hancock Prospecting?s Canadian Investment Riversdale Resources has had its flagship project knocked back by the provincial government. A review panel in Alberta ruled development of Riversdale?s Grassy Mountain Coal project was not in the public interest, knocking back the mine.

In further news, Vocus Group shareholders have approved its $3.5 b takeover by Voyage Australia, a company owned by a consortium comprising of Macquarie Infrastructure and Real Assets Management along with its managed funds and Aware Super. The sale of Australia?s fourth-ranked telecom player is still subject to approval of the New South Wales Supreme Court later this month.

Let?s look now at currencies and the Aussie dollar is trading lower against the Greenback and is currently buying 75.17 US cents, 83 Japanese Yen and 63.13 Euro cents.

Bitcoin is trending down, trading at US$32,521 at 4:51 PM AEST.

In commodities, iron ore is 1.54% lower at US$210.79 per metric ton while gold has risen 0.04%% to now be worth US$1,784.05 an ounce. West Texas Crude oil is up 2.57% at US$73.12 per barrel while Brent oil is higher by 1.89% at US$74.90 per barrel.

June 22 -- The Australian sharemarket has regained much of yesterday's heavy losses. The ASX is higher at midday at 7336 with financials leading the gainers by 2% while health care companies are down 0.35%.

Igo is the best performing stock gaining 5.72%. Pilbara Minerals is up 5.56% with Avita Medical also adding 4.55%. Worley and Resolute Mining are currently trading higher by 4.53% and 4.23% respectively making up the top five leading stocks within the ASX/200.

Cooper Energy is the worst performing company on the ASX, down 2%. Southern Cross Media is lower by 1.73% with Perenti Global also losing ground at 1.54%. Appen and Csl are trading lower, down 1.15% and 1.11%.

Making headlines, two of Australia's oldest investment houses Washington H Soul Pattinson (WHSP) and Milton have agreed to a merger that creates a top 50 ASX listed firm with a market cap of $10.8 billion. WHSP have announced Milton's independent directors had recommended shareholders accept an all-scrip merger with an implied value of $6 security.

The news has sent shares in brickmaker, property investor and investment company Brickworks to record highs. Australia's biggest brickmaker also owns 39.4% of WHSP as part of a wider investment portfolio. Shares in Brickworks were up 3% and went high as $24.09 today following the announcement.

The Aussie dollar is trading lower against the Greenback and is currently buying 75.19 US cents, 83 Japanese Yen and 63.16 Euro cents. Bitcoin is trending down, trading at US$32,700 at 12:18 PM AEST.

In commodities, iron ore is 1.54% lower at US$210.79 per metric ton while gold has risen 0.12% to now be worth US$1785.48 per ounce. West Texas Crude oil is up 0.35% at US$71.29 per barrel while Brent oil is higher by 1.89% at US$74.90/barrel.

June 21 -- The Australian sharemarket has shed around $40 billion today closing 1.8% lower to a near three-week low of 7235.3 points. Financials led declines, down 3.42% while consumer staples were higher by 0.22%.

Jumbo Interactive was the best performing stock gaining 2.89%. Afterpay was up 2.46% with Altium also adding 2.08%. Metcash and Ramsay Health Care traded higher by 1.98% and 1.47% respectively making up the top five leading stocks within the ASX/200.

NRW Holdings was the worst performing company on the ASX, down 7%. Perenti Global was lower by 6.47% with Amp also losing ground at 6.02%. G.U.D. Holdings and Mineral Resources finished lower, down 5.86% and 5.45%.

Making headlines, the Australian sharemarket today joined other markets world-wide to follow Wall Street's lead and tumble over rising interest rate fears. The market hit a two-week low of 7216.6 points at intraday. The fall comes after St Louis US Federal Reserve official James Bullard said rates may rise in late 2022, about a year earlier than expected.

In further news, national retail trade lifted 0.1% in May, well below the market expectations of 0.4%, according to the latest Australian Bureau of Statistics preliminary retail trade data. Victoria?s retail trade fell 1.5% as the state finished May in a fourth lockdown that hurt consumer confidence and dragged down the national figure. Retail trade lifted 0.7% excluding the Victorian Result.

In currencies the Aussie dollar is trading lower against the Greenback and is currently buying 74.85 US cents, 82 Japanese Yen and 63.1 Euro cents.

Bitcoin is trending down, trading at US$32,997 at 5:22 PM AEST.

In commodities, iron ore is 1.12% higher at US$210.19 per metric ton while gold has fallen 14.4% to now be worth US$1,792.

West Texas Crude oil is up 0.6% at US$71.64 per barrel while Brent oil is lower by 0% at US$71.23/barrel."

June 21 -- The ASX has plummeted in morning trade and is having its worst day in almost four months. Suggestions by US Federal Reserve officials at the end of last week that interest rates may rise as early as 2022 has seen a heavy sell-off on both Wall Street and locally. At 12.13pm the market is down 141.2 points to 7227.7.

The Financial sector is leading declines, down 3.22% while consumer staples is higher by 0.36%.

Jumbo Interactive is the best performing stock gaining 2.01%. Ramsay Health Care is up 1.36% with Unibail-Rodamco-Westfield also adding 1.3%. Charter Hall Retail REIT and BWP Trust are currently trading higher by 1.29% and 0.93% respectively making up the top five leading stocks within the ASX/200.

NRW Holdings is the worst performing company on the ASX, down 6.87%. G.U.D. Holdings is lower by 5.38% with Amp also losing ground at 5.22%. QBE Insurance and ARB are currently trading lower, down 5.03% and 4.49%.

Making headlines, The Commonwealth Bank will sell CommInsure General Insurance to the South African headquartered Hollard Group. The deal, which is still subject to approval from the Australian Prudential Regulatory Authority, is expected to be complete in mid 2022. It involves a $625m upfront payment for CommInsure with further deferred payments due from Hollard if certain business milestones are reached.

In further news, Boral will sell its North American building products business for US$2.15 billion to a subsidiary of Westlake Chemical. The transaction won?t result in the payment for tax in Australia or the US as a result of carried forward losses with proceeds adding Boral's surplus.

In commodities, iron ore is 1.12% higher at US$210.19 per metric ton while gold has fallen 14.4% to now be worth US$1,792.

West Texas Crude oil is up 0.6% at US$71.64 per barrel while Brent oil is lower by 0% at US$71.23/barrel."

The ASX has finished 0.1% higher to close at 7368 points. Information technology led the gainers by 3.53% while energy companies were down 1.9%.

Clinuvel Pharmaceuticals was the best performing stock gaining 7.25%. Afterpay was up 6.45% with Webjet also adding 6.43%. Whitehaven Coal and Flight Centre Travel traded higher by 5.82% and 5.09% respectively making up the top five leading stocks within the ASX/200.

Cooper Energy was the worst performing company on the ASX, leading declines down 3.85%. Santos was lower by 3.55% with Newcrest Mining also losing ground at 2.95%. Oil Search and BHP finished lower, down 2.89% and 2.45%.

Making headlines, Woolworths shareholders have today overwhelmingly approved the demerger of the $12b Endeavour Group. The liquor retailer and hotels business will start trading as a stand alone entity on the ASX from June 24.

In further news, Westpac forecasts the Reserve Bank of Australia may start hiking interest rates in early 2023. Westpac?s chief economist Bill Evans today said by early 2023 the conditions for a rate increase around full employment and inflation are likely to have been reached.

The Aussie dollar is trading lower against the Greenback and is currently buying 75.27 US cents, 83 Japanese Yen and 63.28 Euro cents. Bitcoin is trending down, trading at US$37,403 at 4:55 PM AEST.

In commodities, iron ore is 1.12% higher at US$210.19 per metric ton while gold has fallen 51.3% to now be worth US$1,807.

West Texas Crude oil is down 1.11% at US$71.04 per barrel while Brent oil is lower by 0% at US$71.23/barrel.