The benchmark ASX 200 closed up 0.16 per cent at 8831.30 on Wednesday, after a late rally on a choppy day of trade. Eight of 11 sectors finished higher, led by telecommunications and the major banks. The market had opened higher but fell after Reserve Bank deputy governor Andrew Hauser said inflation was materially worse than expected. Money markets took this as a sign of another rate rise on Melbourne Cup day. NextDC shares dropped 41.72 per cent after it cut its earnings guidance by more than a third.
Shares in data centre operator NextDC fell more than 40 per cent on Wednesday after returning to trade following a suspension. The ASX200 still finished the day in positive territory. Reserve Bank deputy Andrew Hauser said the central bank faces tough choices, as a growing share of businesses think higher inflation may be the new normal. This has raised expectations of a rate hike in November.
The ASX 200 fell 28.80 points, or 0.33 per cent, to 8816.90 on Tuesday, after recovering from early falls of more than 1 per cent. Shares in BHP slumped 1.59 per cent after the miner reported copper output of 400,000 tonnes in the three months to September, 19 per cent lower than the previous quarter. National Australia Bank also fell 1.75 per cent after announcing 2500 job cuts to simplify its operating model. Technology stocks recovered, with WiseTech Global, Xero and Technology One all rising, while Commonwealth Bank edged up 0.14 per cent.
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Australia's sharemarket closed higher on Monday, with the benchmark ASX 200 up 0.44 per cent to 8845.70. Energy producers and the major banks led gains, offsetting falls in technology stocks that followed a sell-off on Wall Street. Cleanaway shares surged 20.24 per cent after it agreed to sell to Swedish private equity group EQT for $9.3bn. Challenger climbed 19.29 per cent after it said it was considering a takeover bid from Japanese Daiichi Life worth $7.8bn. Ampol shares fell 2.51 per cent despite reporting that refined fuel margins had jumped more than 120 per cent.
Mining and technology stocks lifted the ASX 200 by 1 per cent to 8806.70 points on Friday, rescuing the index from a difficult week. BHP rose 3.50 per cent and WiseTech Global climbed 9.01 per cent. Health stocks also gained, while supermarket giant Coles fell 1.52 per cent. Cleanaway shares dropped 6.1 per cent as investors await a $9.4bn takeover offer from Swedish group EQT, at $3.13 a share. Zip shares rose 2.4 per cent after its US chief executive resigned.
Australian shares fell on Wednesday, led by a sell-off in the major banks and weaker gold prices. The benchmark ASX 200 dropped 56 points, or 0.64 per cent, to 8727.90. Commonwealth Bank led the bank declines, slumping 2.16 per cent to $151.17. Miners including BHP and gold producers also fell. Telstra and Superloop gained. Defence shipbuilder Austal soared 10.13 per cent after telling shareholders it had two bidders.
Australia's sharemarket closed flat on Tuesday as strong gains in the major banks offset a steep fall in technology and mining stocks. The benchmark ASX 200 rose 0.01 per cent to 8783.90. Chinese chipmaker competition and a hawkish Reserve Bank weighed on sentiment. Commonwealth Bank rose 2.32 per cent. Raiz shares plunged 32.00 per cent after reporting potentially material tax liabilities dating back to 2015.
The ASX 200 rose 0.8% to 8,783 points on Monday, supported by miners and financial stocks. Telstra shed 2.5% as global telecom shares fell over fears of competition from SpaceX. Iron ore prices lifted miners, with BHP up 2.5%. Oil prices rose in the morning before easing, after a US-brokered energy ceasefire was announced over the weekend. Wage growth slowed in September, according to a Commonwealth Bank survey, which said annual wage growth held at 3.3%.
The Australian sharemarket has fallen 0.8 per cent in a second straight session, led by declines in major miners and banks. BHP dropped more than 2 per cent, while Fortescue also lost ground amid concerns about China's demand for Australian iron ore. Energy stocks like Woodside and Ampol rose, along with supermarket giants Coles and Woolworths. The Australian dollar is trading at around 69.5 US cents.
