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Afternoon (PM) Market Report

The Australian share market has edged higher and hit another 11-and-a-half year peak in the process. Mining giants hit multiyear highs on the backs of surging iron ore prices and energy stocks moved higher after attacks on two fuel tankers in the Gulf of Oman, but banks and consumer shares dragged down the market.


Friday, 14th June, 2019

The ASX200 index closed up 11.6 points, or 0.19 percent, to 6,554 points, while the broader All Ordinaries was up 14.5 points, or 0.22 percent, to 6,633.6.

Miners were the biggest gainers on Friday, collectively up two percent after the price of iron ore surged to a five-year high of over $US110 a tonne. Iron ore giant Fortescue Metals gained 5.5 percent to hit a more than 10-year high of $8.80. BHP was up 1.9 percent to an eight-year high of $40.30 and Rio Tinto gained 3.4 percent to an 11-year high of $105.34.

The energy sector was up 1.7 percent as a whole as the price of Brent crude jumped over four percent to US$62 following the attack on the oil tankers, which the US blamed on Iran. Woodside Petroleum gained 1.9 percent to $35.03, Santos was up 2.6 percent to $7 and Oil Search gained 1.5 percent to also close at $7. But the big four banks were all lower, with ANZ down 0.7 percent to $28.22, Commonwealth down 0.8 percent to $79.77, NAB down one percent to $26.73, and Westpac down 0.9 percent to $27.88.

AMP was down 5.8 percent to $2.11 after regulator APRA issued new licence conditions on AMP Super. Consumer discretionary shares were collectively down 0.7 percent, with Wesfarmers falling 1.7 percent to $35.66, while consumer staples dipped 0.4 percent.

Afterpay Touch shares continued to fall on regulatory concerns, closing down 4.3 percent, and investment manager Challenger fell another 6.5 percent after announcing on Thursday its profit would be at the lower range of guidance.

The Aussie dollar is buying 69.02 US cents, from 69.09 US cents on Thursday.

Equities / Fixed Interest Close Change % Change 
All Ordinaries 6634 15 0.22
S&P/ASX 200 6554 12 0.18
Currency Close Pts Change % Change 
$A vs $US 0.6899 -0.0008 -0.12
$A vs GBP 0.5448

0.0001

0.02
$A vs EUR 0.6118 -0.0006 -0.10
$A vs YEN 74.66 -0.20 -0.27
$A vs $NZ

1.0542

0.0005

0.05