Gold Stocks Reverse Trend, On Strongest Day In Years: Here’s Why
The ASX 200 Materials sector is coming off one of its strongest sessions in years, having added 7.55% in a notable shift of momentum. Under the surface, there were a swathe of mid-tier and major gold producers breaking decisively above their long-term 200-day simple moving averages, a technical milestone that signals a potential shift from…
ASX 200 Back Above 9,000 As All Ords Moves Green YTD
The ASX 200 reclaimed the psychological 9,000 level yesterday, setting the stage for an open at 9,065.10. We are coming off a session that saw dramatic sector rotation, a blockbuster M&A move in data centres, and the aftershocks of a Democratic “blue wave” in the U.S. midterm elections. The S&P/ASX 200 has added 1.8% week-to-date…
Catalyst Metals Shares Rebound 18% From Oversold Level
Catalyst Metals shares (ASX: CYL) just flipped a multi-year low, to an 18.34% gain, snapping a slide that had left the stock deeply oversold and down 44% this year even after the bounce. It was a huge rebound for the Materials sector, with the XMJ flipping the script on trend to gain 7.55% on Thursday….
Nasdaq Composite Down 5%: Have Midterms Shifted Ground Under AI Trade?
A Democratic sweep in the U.S. midterm elections yesterday has sent shockwaves through technology markets today, driving the Nasdaq Composite down more than five percent in early trading and erasing over half of its year-to-date gains in a matter of hours. The selloff, concentrated in semiconductor hardware, memory suppliers, and high-beta AI stocks, marks one…
NAB Shares Under Pressure Following FY Results: The Latest Look
National Australia Bank shares (ASX:NAB) came under pressure, as full-year results delivered a double blow to holders. A $1.35 billion one-off software charge, alongside a near-doubling of credit impairment provisions were enough to push cash earnings sharply below expectations, all on one of the ASX 200’s strongest days in months. The NAB share price fell…
Amcor Shares Fall Red on Year Following Earnings: Here’s Why
Amcor shares (ASX:AMC) fell sharply today, down 7.79% to $62.11 off the back of the latest quarterly print, where a guidance cut hit sentiment even against healthy revenue growth. If we need a reminder about the forward looking nature of markets, this a good example of guidance taking precedent over previous results. Earnings Miss, and…
BHP Shares Reclaim Key Level as Materials Sector Catches A Bid
The mining sector put up one of its strongest recoveries in recent memory on Thursday, with market leader BHP (ASX: BHP) rallying as a shift in risk appetite floated all resource boats on the day. The BHP share price rounded out the session at A$59.00, a gain of 6.19% that breached a key technical level….
Eagers Automotive Today’s ASX 200 Laggard, As Shares Make New Low
Eagers Automotive shares (ASX: APE) were the worst performer on the ASX 200 today, falling 13.22% to A$16.61 on volume more than six times average. This brought a new 52 week low at A$15.77 intraday before some stabilisation into the close. The past year has seen the APE share price fall 49.42%, despite record first-half…
NextDC Shares Jump 50% as Goodman and Digital Realty Raid the Register
NextDC shares (ASX: NXT) just rounded out a mighty day on the ASX, leading all gainers with a 50.84% day to $9.85 after Goodman Group and Digital Realty Trust moved to acquire a stake of up to 9.9% at $9.50 per share. The bookbuild price represented a 45.5% premium to the prior close, and the…
BHP Shares Test Bear Market Territory, As Momentum Shifts
BHP shares (ASX:BHP) came within a whisker of a technical bear market yesterday, as the pullback from highs narrowed the gap at the top of the index for market cap lead. The BHP share price touched an intraday low of A$54.67 before recovering slightly to close at A$55.56, a decline of 1.52% on the session,…
