ASX up 0.5% despite sell-off on Wall Street overnight
The ASX200 index picked up where it left off in the last seven days, gaining 0.5% to reach 6210.30 points. This seven-month high was reached despite a retreat in the market on Wall Street last night with the Dow Jones closing down 0.58% and the NASDAQ dropping 0.80%.
The banks continue to perform strongly with Australia’s largest bank, Commonwealth Bank (CBA) up 0.89%. However, it was the miners that stole the show with BHP adding 2.05% today even with talks of China imposing import restrictions on their coal.
Talks of a potential November interest-rate cut also was a key contributor to the price action today which economists see as a likely course of action by the RBA to help kick-start the economy.
Gainers and Losers
The biggest gainers on Thursday were:
- Whitehaven Coal +11.6%
- Pro Medicus +7.7%
- Eagers Automotive +6.1%
- Pendal Group +5%
- Ingenia Communities +4.9%
The biggest declines were:
- Zip Co -7.5%
- IDP Education -6.1%
- Nearmap -6%
- Avita Therapeutics -3.9%
- Bravura Solutions -3.7%
New to investing? Read about How to keep your investment decisions simple.
This article does not take into account the investment objectives, financial situation or needs of a particular person or entity. Before acting on any investment strategy or advice you should first consult with your current ASIC accredited investment professional or seek out a compliant investment professional for such.