Australian shares dip as Trump rally loses steam | Enterprise & Market Information
The native share market has slipped a bit, taking a break after three straight days of gain fuelled by the inauguration of Donald Trump.
Shortly after midday AEDT on Thursday, the benchmark S&P/ASX200 index was down 27.8 factors, or 0.33 per cent, to eight,402.0, whereas the broader All Ordinaries had dropped 28.4 factors, or 0.33 per cent, to eight,652.1.
In a single day the S&P500 hit a document intraday high however ended short of a new closing high.
“Today was all about equities as markets temporarily shrugged off Trump policy uncertainty and instead focused on a swathe of corporate earnings and a big tech rally fuelled by AI stocks,” ANZ researchers Brian Martin and Daniel Hynes wrote in a shopper notice.
Eight of the ASX’s 11 sectors had been decrease at noon, with power, tech and telecommunications greater.
Supplies was the most important mover, dropping 1.1 per cent as BHP slipped equally, Fortescue dropped 2.4 per cent and Rio Tinto retreated 0.9 per cent.
All of the large banks had been down as effectively, with NAB, ANZ and CBA all dipping 0.2 per cent and Westpac retreating 0.3 per cent.
Praemium had grown 11.8 per cent to a two-year high of 85 cents after the wealth management platform reported that it had $62.1 billion funds underneath administration at 12 months finish, up 29 per cent from a 12 months in the past.
Rival Netwealth climbed 2.0 per cent to $30 after reporting it had $101.6 billion in funds underneath administration, after $4.5 billion in fourth-quarter inflows, a document for the company.
Elsewhere, Santos had climbed 0.6 per cent after reporting it made $US430 million in fourth-quarter free money stream, and $1.9 billion for the total 12 months.
Cyclopharm had superior 12.3 per cent to a one-year high of $2.28 after asserting a new settlement with a US health care supplier would enable for the use of Cyclopharm’s lung imaging agent Technegas in up to 169 nuclear medication departments.
The Australian greenback in the meantime was close to a one-month high in opposition to its US counterpart, shopping for 62.74 US cents, from 62.66 US cents at close of business Wednesday.
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