Closing Bell

Uranium-focused stocks Paladin Energy and Boss Energy soared 11.1% and 12.9%, respectively, after Trump indicated potential tariffs on Canadian uranium.

The Australian sharemarket recovered losses on Tuesday afternoon, with the S&P/ASX 200 Index rising 0.7% by 2:23 pm, reversing a morning dip spurred by U.S. President Donald Trump’s tariff plans. Trump’s proposal to impose 25% tariffs on Mexico and Canada by February 1 caused the Australian dollar to drop 0.7% to US62.48¢.

The ASX rose on Monday as investors anticipated Donald Trump’s inauguration as the 47th U.S. president. The S&P/ASX 200 gained 0.5%, closing at 8347.4, while the All Ordinaries rose 0.4%. Nine out of 11 sectors advanced, although communications and energy stocks ended in the red.

The Australian sharemarket edged lower on Friday afternoon, weighed down by declines in the financial and communication services sectors. The S&P/ASX 200 Index slipped 0.1% or 10.1 points to 8316.9 at mid afternoon, following a 1.4% gain on Thursday. Major banks led the losses, with Commonwealth Bank falling 1%.

The S&P/ASX 200 Index maintained its 1.4% gain, trading 123.8 points higher at 8327.1 by mid afternoon Thursday, while the All Ordinaries rose 1.3%. All 11 sectors advanced, led by banks and technology stocks, as global markets rallied on a softer US consumer price index reading, easing inflation concerns.

The Australian sharemarket reversed earlier gains to close marginally lower on Wednesday, with the S&P/ASX 200 slipping 0.04% (3.5 points) to 8227.5. The All Ordinaries fell similarly, reflecting a subdued trading session as investors awaited key US inflation data.

The Australian sharemarket edged higher on Tuesday, rebounding from a two-week low as bargain hunters entered the market. The S&P/ASX 200 Index rose 0.3%, or 27.2 points, to 8219 by mid-afternoon, with nine of 11 sectors posting gains. The All Ordinaries gained 0.4%. However, trading volumes remained thin.

The Australian sharemarket extended losses on Monday following a surprise uptick in US jobs data that dashed hopes for an imminent Federal Reserve rate cut. By late afternoon, the S&P/ASX 200 index had dropped 1.3%, or 111.5 points, to 8182.6.

Australian shares dropped on Friday, led by declines in the banking and consumer staples sectors. The S&P/ASX 200 Index reversed early gains, down 0.5% to 8287.1

Australian shares pulled back on Thursday, with the S&P/ASX 200 shedding 0.4 per cent (30.1 points) to 8319. All 11 main sectors ended in negative territory, led by weakness in energy and industrials. Oil prices dipped, dragging Woodside Energy 1.1 per cent lower, while Transurban lost 0.5 per cent. A 0.8 per cent lift in November retail sales undercut expectations and clouded hopes for a quick rate cut next month, despite concerns that spending may have been spread throughout the month.

The Australian sharemarket commenced 2025 with gains, driven by momentum trading and a rally in energy stocks. The S&P/ASX 200 climbed 0.5% to close at 8201.2, recovering from a volatile morning session that briefly dipped into negative territory. Ten of the 11 sectors advanced, led by energy, materials, and real estate, each gaining over 1%, while consumer staples ended slightly lower.

ASX Leaders and Losers for 2024