Burrell Stockbroking and Superannuation is a longstanding Queensland company providing full stockbroking, superannuation, wealth management and advisory services to private clients, Not-for-Profit and other investment organisations.
US stocks rallied on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns.MORE >
The Australian share market has given up all of its strong early gains and then some, falling by more than 1.5 percent for a second day.
Friday, 3rd April, 2020
The ASX200 benchmark index finished down 86.8 points, or 1.68 percent, after being up as much as 92.5 points, or 1.8 percent, in early trade. The All Ordinaries index closed down 81.8 points, or 1.58 percent, at 5,106.9.
Every sector aside from mining and energy were lower, with industrials the biggest loser, down 4.6 percent as toll road operator Transurban fell 6.3 percent and Sydney Airport fell 4.4 percent. The energy sector surged by 10 percent in early trade after the oil price rallied 25 percent as US President Trump tweeted he had reached a deal with Saudi Arabia and Russia to cut oil output in the face of a market glut. But the gains - and oil prices - faded later in the day as doubts emerged about the deal, with the sector finishing just 0.3 percent ahead. Oil Search closed up 4.6 percent, or $2.73, but Woodside Petroleum, Origin Energy and Santos were all up less than 0.5 percent and Beach Energy finished flat. The heavyweight miners enjoyed a solid performance, with BHP up 1.6 percent to $30.33, Rio Tinto climbing 1.8 percent to $88.93 and Fortescue Metals gaining 5.7 percent to $10.56.
The big four banks finished lower, with Westpac down 2.9 percent to $15.51, ANZ falling 2.2 percent to $15.79, CBA down 1.9 percent to $60.11 and NAB down 2.4 percent to $15.62. In healthcare, blood products giant CSL closed down 1.4 percent to $30.41 and Ramsay Health Care fell 4.6 percent to $56.84. The consumer discretionary sector was the second worst-performer, down 4.2 percent, as Wesfarmers fell 3.4 percent to $34.67 and Aristocrat Leisure dropped 3.8 percent to $20.68.
The Australian dollar is buying 60.67 US cents, down from 61.80 US cents as the market closed on Thursday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6061||0.0001||0.02|
|$A vs GBP||0.4899||
|$A vs EUR||
|$A vs YEN||65.45||-0.01||-0.01|
|$A vs $NZ||
With the conclusion of Daylight Saving in the Southern States on Sunday the 5th of April, 2020 ASX trading hours (in Queensland) change to 10:00am - 4:00pm as of Monday the 6th of April.
Our office hours remain as 8.30am - 5.00pm.