The Australian sharemarket declined on Thursday, weighed down by profit-taking in major banks and miners, following Wall Street’s sharpest fall in a month. The S&P/ASX 200 dropped 0.5% to 8342.3 by 2pm, while the All Ordinaries fell 0.6%. Nine of 11 sectors traded lower, led by energy.
ASX Rallies on RBA Rate Cut and Dovish Outlook
The Australian sharemarket climbed on Wednesday, buoyed by the Reserve Bank of Australia’s decision to cut interest rates by 25 basis points to 3.85%, with the S&P/ASX 200 rising 0.7% to 8398.1—less than 2% from its record high. Ten of the 11 sectors advanced, led by banks and utilities, as bond yields fell and rate cut expectations firmed.
The ASX extended gains after the Reserve Bank of Australia delivered a widely expected 25 basis point rate cut—its second for the year—lifting the S&P/ASX 200 by 0.5% intraday. All 11 sectors traded higher, led by financials, technology, and real estate.
The Australian sharemarket snapped its longest winning streak since August, retreating alongside US futures amid renewed risk-off sentiment. The S&P/ASX 200 fell 0.5% or 42.1 points to 8301.6 by 2pm, ending an eight-session rally. The All Ordinaries dropped 0.6%, with materials and energy stocks leading the decline.
Newmont Corporation (NEM) is a gold company and a producer of copper, zinc, lead, and silver. The Company’s portfolio of assets, prospects and talent is anchored in mining jurisdictions in Africa, Australia, Latin America and Caribbean, North America, and Papua New Guinea
ASX Eyes Weekly Gain as Rate Cut Bets Boost Sentiment
The ASX is poised to end the week on a high, supported by mounting expectations of rate cuts following soft economic data from both Australia and the US. By 2pm, the S&P/ASX 200 was up 0.5% to 8341.4, heading for its eighth consecutive gain and a 1.4% rise over the week.
The S&P 500 rose for a fourth consecutive session, gaining 0.41% to close at 5,916.93, as easing U.S.-China trade tensions and falling Treasury yields lifted market sentiment. The Dow Jones Industrial Average advanced 271.69 points (+0.65%) to 42,322.75, while the Nasdaq Composite edged down 0.18% to 19,112.32 despite strong tech performance earlier in the week.
ASX Edges Higher Amid Cautious Sentiment
Australian shares edged higher on Thursday, mirroring a modest Wall Street advance as investors awaited fresh catalysts. The S&P/ASX 200 rose 0.2% to 8299.8 points by 2pm, reversing early losses. Technology led gains, while energy and resources lagged.
FireFly Metals is a Company engaged in mineral exploration and evaluation at the Green Bay Copper-Gold Project in Newfoundland and Labrador, Canada, the Pickle Crow Gold Project in Ontario, Canada and the Limestone Well Vanadium-Titanium Project in Western Australia
The ASX 200 edged 0.1% lower to 8260 by 2pm, with losses in Macquarie Group and Aristocrat Leisure offsetting strength in energy stocks. The All Ordinaries also slipped 0.1%, as the local market showed muted movement despite a strong overnight rally on Wall Street, led by Nvidia’s 5.6% jump after US President Trump eased AI chip export restrictions.
The Australian sharemarket rallied on the back of a global rebound, as the US and China agreed to a 90-day truce in their trade dispute, easing tariff tensions and restoring investor confidence. The S&P/ASX 200 climbed 0.5% to 8270.4 by midday, led by gains in technology and energy sectors. The All Ordinaries also rose 0.5%.
The Australian sharemarket edged higher on Monday, supported by gains in energy and mining stocks ahead of anticipated updates on US-China trade negotiations. The S&P/ASX 200 rose 0.2% to 8248.8 near 2pm, with energy leading sector gains as seven of eleven sectors traded in the green.
