A choppy session for the ASX today with a fairly deep sell-off into a lunchtime low before the market moved higher throughout the afternoon, closing at new post COVID highs. Ultimately the market looks primed to breakout on the upside with the ASX 200 now only ~1% below the 7000 milestone.
The ASX 200 saw the best of the days gains in the morning with a high of 6915, the highest level in six weeks however sellers emerged and we ended around 30points below the session high.
A positive session to round out the month and quarter for Aussie stocks, although there was a massive MOC (market on close) order that saw the ASX 200 fall 30 points in the match (between 4pm & 4.10pm).
News that Brisbane is likely to go into a longer lockdown as the UK variant of the virus claims cases in the sunshine state has seen stocks sold off today as consistent selling from the open pushed the local market down nearly 100pts from the early session highs. A Byron Bay hens party seems to be the catalyst with the entertainment bringing more than was bargained for just as support from Job Keeper rolls off. Australia was a clear under performer from a regional perspective today as the material sector provided the biggest weight on the market overall.
The ASX lost ground today, selling off from early strength. The Brisbane lockdown kept the bulls at bay with rising case numbers coinciding with job keeper support rolling off.
The magnet at 6800 continues to attract the ASX today with early weakness bought into with particular focus on Healthcare and consumer names. The market closed ~20pts off its highs but still managed a 0.5% gain. Of particular note was the variation in performance across some of the banking names – CBA stood out with a gain of more than 1% while WBC was off 0.98% today.
A choppy session for the ASX today with a fairly deep sell-off into a lunchtime low before the market moved higher throughout the afternoon, closing at new post COVID highs. Ultimately the market looks primed to breakout on the upside with the ASX 200 now only ~1% below the 7000 milestone.
The ASX 200 saw the best of the days gains in the morning with a high of 6915, the highest level in six weeks however sellers emerged and we ended around 30points below the session high.
A positive session to round out the month and quarter for Aussie stocks, although there was a massive MOC (market on close) order that saw the ASX 200 fall 30 points in the match (between 4pm & 4.10pm).
News that Brisbane is likely to go into a longer lockdown as the UK variant of the virus claims cases in the sunshine state has seen stocks sold off today as consistent selling from the open pushed the local market down nearly 100pts from the early session highs. A Byron Bay hens party seems to be the catalyst with the entertainment bringing more than was bargained for just as support from Job Keeper rolls off. Australia was a clear under performer from a regional perspective today as the material sector provided the biggest weight on the market overall.
The ASX lost ground today, selling off from early strength. The Brisbane lockdown kept the bulls at bay with rising case numbers coinciding with job keeper support rolling off.
The magnet at 6800 continues to attract the ASX today with early weakness bought into with particular focus on Healthcare and consumer names. The market closed ~20pts off its highs but still managed a 0.5% gain. Of particular note was the variation in performance across some of the banking names – CBA stood out with a gain of more than 1% while WBC was off 0.98% today.
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