After plunging at the start of the year, the ASX is up almost two percent on the week. The S&P/ASX 200 Index closed the session 1.14% higher at 7,268.3 points. The only sectors that finished lower on the ASX today were energy and materials, dragged down by falling prices for oil and iron ore. The remaining sectors, however, more than made up for the underperformers. Tech stocks, for example, gained more than four percent.
Australian shares were down across the board today, with the All Technology Index down 0.6 per cent. On Wall Street, technology stocks and names dipped more than three percent, including BNPL, which reported disappointing results. The ASX was held up to some degree by mining giants, which managed to hold their own despite the negative market conditions. In the following paragraphs, we will discuss the ASX’s performance today. The following charts show what to expect for the stock market during a weekday.
The S&P/ASX 200 Index finished 0.98% lower at 7,217.3 points. The S&P/ASX 200 was down 3.8% on Monday. US inflation hit 7.5% today, causing technology shares and names to plummet. However, mining giants held the ASX back to some extent. The market has been dominated by tech stocks this week. Therefore, investors should look for a positive update on this stock for today.
The S&P/ASX 200 Index closed 0.98% lower at 7,217.3 points on Monday. It failed to continue its winning streak, with the All Technology index down 4.42%. The broader markets were impacted by the slump in BNPL’s shares, while the S&P 500 fell 3%. In contrast, mining giants held up the ASX to some extent. But the overall tone on the ASX was downbeat.
The S&P/ASX 200 index finished 0.9% lower on Tuesday, with the SPI futures index jumping 41 points. Brent crude oil prices rose, but iron ore fell. AMP, AGL, and Nuix all posted updates on their websites. The ASX also announced that the investigation into the collapse of a major coal mine had been partially completed. The ASX has been down for more than a month, but it’s not lost hope.
Despite its positive performance, the ASX failed to maintain its recent momentum on Monday, with the S&P/ASX 200 finishing 0.98% lower at 7,217.3 points. Despite the positive sentiment, tech shares fell, with Apple (AAPL) and BNPL (NBL) both dropping more than two per cent. The mining giants, however, held up the ASX to some extent. It’s worth remembering that the ASX isn’t open on weekends and holidays.
During the last week, Po Valley Energy, an Italian gasfield development company, made its debut on the ASX. The proceeds from the sale of shares will be used to carry out a gas field development program in Northern Italy. The company has a rapidly expanding pipeline of new projects and has a growing project portfolio. This makes it a good investment opportunity for investors in Australia. The ASX has a history of regulating energy companies, but it’s important to make sure you’re aware of the risks involved before you buy.
