Markets
Insights on global financial markets, including stocks, currencies, and more.
The Australian sharemarket finished slightly lower on Friday as major banking stocks retraced yesterday's gains. The S&P/ASX 200 Index closed down 16.6 points or 0.2% to 8,310.4, finishing the week with marginal gains of 0.2%. Eight of 11 sectors finished higher, despite losses in the financials and communication services sectors, following the market’s 1.4% gain on Thursday. ANZ Group dipped 1.8%, National Australia Bank lost 1.7%, and Commonwealth Bank declined 1.2%. Meanwhile, the materials sector added 0.4% overall, with BHP up 0.2%, Fortescue Metals adding 1.8% and Champion Iron up 2.2%. Mining giant Rio Tinto bucked the trend, finishing 0.7% lower after Bloomberg reported that it is in merger discussions with Glencore. If completed, the deal would surpass BHP as the largest mining group globally. Among data releases, annual economic growth in China reached 5.4% in Q4 2024, beating market expectations of 5% growth. Among individual companies, Insignia Financial rose 6.5% after CC Capital increased its takeover bid to $4.60 per share, valuing the offer at A$3.1 billion. The revised bid follows Bain Capital’s move earlier in the week to match CC Capital’s prior $2.9 billion offer. Lynas Rare Earths d
Gold prices have stalled their three-day rally at monthly highs as traders pause for profit-taking ahead of the inaugural ceremony of U.S. President-elect Donald Trump next Monday. By 3:45 pm AEDT (4:45 am GMT) spot gold was trading flat at US$2,715.47 per ounce. The precious metal showed limited reaction to stronger-than-expected economic data from China, the world’s largest consumer of gold. China’s fourth-quarter GDP grew by 5.4% year-on-year, surpassing estimates of 5%, alongside better-than-forecast retail sales and industrial production figures. Despite the positive economic data, optimism surrounding China's growth is dampened by lingering concerns about its struggling property market and potential tariffs proposed by the incoming U.S. administration. Meanwhile, expectations of dovish U.S. Federal Reserve policies continue to support gold prices. Following slightly weaker-than-expected inflation data, markets anticipate at least two interest rate cuts in 2024. This outlook has pressured U.S. Treasury yields and the U.S. dollar, reinforcing demand for the non-yielding precious metal. In addition, comments from Federal Reserve Governor Christopher Waller also weighed on Treasury yields and the dollar. Speaking
Oil prices climbed on Friday, extending their rally to a fourth consecutive weekly gain and returning to five-month highs as market sentiment was buoyed by concerns over supply disruptions. By 3:15 pm AEDT (4:15 am GMT) Brent crude futures gained $0.38, or 0.5%, to trade at $81.67 per barrel, recovering from a 0.9% decline in the previous session, while U.S. West Texas Intermediate (WTI) crude futures rose $0.58, or 0.7%, to $79.26 per barrel after a 1.7% drop on Thursday. The upward pressure on prices follows the Biden administration's latest sanctions targeting Russia’s oil producers and related industries. The measures, part of broader sanctions aimed at Moscow’s military and sanctions-evasion networks, have disrupted global oil supply chains. Russia's key customers are now seeking alternative suppliers, leading to increased shipping rates as they source barrels from distant regions. In the Middle East, maritime security officials announced that Yemen's Houthi militia is expected to halt attacks on vessels in the Red Sea following a ceasefire agreement in Gaza between Israel and Hamas. Despite the anticipated ceasefire, uncertainty lingers. Houthi leaders have indicated they will closely monitor the cease
Asia-Pacific markets opened lower on Friday as investors awaited a series of economic reports from China. By 11:35 am AEDT (12:35 am GMT), South Korea’s Kospi 200 eased 0.3%, Japan’s Nikkei 225 slipped 1.2%, and Australia’s S&P/ASX 200 was down 0.1%. China is set to release its industrial output and retail sales data for December, alongside fourth-quarter GDP figures. Markets estimate China’s GDP growth for the quarter at 5% year-on-year, up from 4.6% in the prior quarter. Overnight in the U.S., major indices lost early gains, with the S&P 500 and Dow ending three-day winning streaks amid weakness in technology stocks. The S&P 500 dropped 0.2% to close at 5,937.34, while the tech-heavy Nasdaq Composite declined 0.9% to 19,338.3. The Dow Jones Industrial Average slipped 0.2% to 43,153.1. Chinese equities ended higher on Thursday. The Shanghai Composite Index added 0.3% to 3,236, with the CSI 300 up 0.1% to 3,800.4. Hong Kong’s Hang Seng Index also added 0.3% to close at 19,286.1. In India, the BSE SENSEX gained 0.3%, closing at 76,724.1. European markets ended Thursday on a positive note. In the U.K., the FTSE 100 rose 1.1%, closing at 8,391.9, Germany’s DAX climbed 0.4% to 20,655.4, and Fra
U.S. stock futures moved slightly lower on Thursday night (Friday AEDT) following a mixed session that saw the Dow Jones Industrial Average and the S&P 500 end their three-day winning streak. Futures tied to the Dow fell 41 points, or 0.1%, while S&P 500 futures dipped 0.1%, and Nasdaq 100 futures slid 0.2%. In after-hours trading, J.B. Hunt Transport Services plunged 9.2% after missing analysts’ expectations for its fourth-quarter earnings. Meanwhile, Rivian Automotive gained 5.1% after finalising a US$6.6 billion loan agreement with the U.S. Department of Energy's Loan Programs Office to support the construction of its new manufacturing facility in Stanton Springs North, Georgia. During Thursday’s regular trading session, the Dow and S&P 500 lost 0.2% apiece, while the Nasdaq Composite fell 0.9%. Despite the losses, all three major indices remain on track to close the week with gains. Investors are awaiting a series of bank earnings reports set to be released before Friday’s market open, including results from State Street, Citizens Financial, Truist Financial, and Regions Financial. Additionally, market participants will be closely monitoring the latest data on building permits and housing star
