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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.

 
MARKET REPORTS LATEST NEWS

Morning (AM) Market Report

US President Trump's limited trade deal with China removes a major hurdle for Apple and other technology stocks that have already surged this year to record highs.

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Afternoon (PM) Market Report

The Australian share market has closed higher, with mining stocks rallying on news that the US would roll back tariffs on China as part of an interim trade deal.


Friday, 13th December, 2019

The ASX200 index closed on Friday up 30.9 points, or 0.46 percent, to 6,739.7 points, while the broader All Ordinaries was up 33.8 points, or 0.5 percent, to 6,844.6 points.

There was no official word from the White House but multiple US news sources were reporting that Trump had signed off on the trade deal after China promised to buy more US farm goods. The Aussie dollar hit a five-month high of 69.40 cents against its US counterpart before retreating to a six-week high on word of the trade deal, but anyone expecting a big market rally was disappointed.

Miners and oil companies were some of the biggest gainers, as commodity prices surged on hopes for more global growth. Cooper miner OZ Minerals gained 4.9 percent to $11.20, while Bluescope Steel rose 5.2 percent to $15.21, in the biggest gains since August for both companies. BHP rose 1.9 percent to $39.35, Rio Tinto gained 1.6 percent to $100.60 and South32 rose 2.9 percent to $2.88.

Virgin Money gained 7.7 percent to $3.77 after the Conservatives won a clear majority in the UK election, giving the Tories a clear mandate for Brexit and causing a surge in the British pound. Fund managers also rallied on hopes that a resolution to the Brexit uncertainty would lead UK investors to re-enter the market. Magellan Financial was up 3.7 percent, Platinum Asset Management gained 7.6 percent, Pendal Group climbed 8.1 percent, Janus Henderson rose 3.8 percent and AMP was up 4.3 percent. Bond yields rose around 12 percent - indicating less demand for the safe haven asset - and bond proxy stocks fell as well.

Property trusts were down 2.2 percent, with Mirvac down 4.3 percent, Vicinity Centres falling 2.3 percent and Goodman Group down 2.8 percent. The big banks all gained, with ANZ up 2.0 percent to $24.71, NAB up 1.4 percent to $25.15, Westpac climbing 1.7 percent to $24.48 and Commonwealth up 0.4 percent to $80.06.

The Aussie dollar is buying 69.24 US cents, up from 68.81 US cents on Thursday.

Equities / Fixed Interest Close Change % Change 
All Ordinaries 6845 34 0.50
S&P/ASX 200 6740 31 0.46
Currency Close Pts Change % Change 
$A vs $US 0.6923 -- --
$A vs GBP 0.5151

0.0012

0.23
$A vs EUR 0.6201 0.0011 0.18
$A vs YEN 75.91 0.15 0.20
$A vs $NZ

1.0462

0.0001

0.01

MARKET REPORTS LATEST NEWS
18 December 2018

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Office Hours 

With the commencement of Daylight Saving in the Southern States on Sunday the 6th of October, 2019 ASX trading hours (in Queensland) change to 9:00am - 3:00pm from Monday the 7th of October, 2019.

 

Our office hours remain as 8.30am - 5.00pm.