The Australian sharemarket reached a new high on Tuesday, as the S&P/ASX 200 Index climbed 1.3%, or 108.9 points, to 8409.1 by mid afternoon, breaking above the 8400 threshold for the first time. All 11 sectors traded higher, led by strong performances in technology and energy stocks.
Weebit Nano Limited is currently exhibiting a strong upward trend, with its stock price experiencing significant gains following a recent capital raise.
Stocks closed higher overnight, driven by a rally in big tech and Tesla ahead of key earnings from Nvidia and comments from Federal Reserve officials.
The Australian sharemarket remained flat early Monday afternoon, with the S&P/ASX 200 steady at 8285.5 points after slipping 0.1% last week. Gains in commodity-linked stocks balanced declines in health and technology sectors.
Elders Limited ELD:ASX Earnings Update
Investors started to abandon the Trump trade on Friday driven by concerns about slower interest-rate cuts and reactions to President-elect Donald Trump’s cabinet selections.
A wrap of the week in markets from the boys at MPC Markets.
We cover stocks, politics, opportunities on the ASX and geopolitics
Australian shares edged higher at midday, with the S&P/ASX 200 Index rising 0.3% (24.7 points) to 8248.7, buoyed by gains across 10 of 11 sectors. Utilities led, with APA Group advancing 3.2% after reiterating its FY2025 EBITDA guidance, supported by a Q1 revenue increase to $256.4 million from $237.6 million.
Stocks spent the session lower overnight as the Trump rally burnt out and persistent inflation gave the Fed room to slow the pace of cuts, a sentiment echoed by Chairman Powell in a speech in Dallas around the market close
A rally in technology and major banks lifted the Australian sharemarket, with the S&P/ASX 200 Index rising 0.2% (14.1 points) to 8207.5. Gains in six of eleven sectors were led by a 5.9% surge in Xero, which reported a 51% rise in EBITDA to $311.7 million and a 76% increase in net profit to $95 million for the half-year. Major banks were all in the green, with Commonwealth Bank up 1.3%.
The markets never lie, and in the wake of Donald Trump’s election victory, they’re sending a clear message to Australian investors
Technically, the stock is showing signs of strength, suggesting a potential uptrend or breakout may be forming. This technical strength, combined with the fundamental financial improvements, provides a compelling case for investors. Additionally, after falling 45% in 8 months, the stock is now trading at its lowest revenue multiple in some time. This valuation, coupled with the company’s strong position in the growing network-as-a-service market, presents a favorable risk-reward profile for potential buyers.
