Written by 1:39 pm Interesting Reads, News, Popular Blogs, SLIDER, Trending News

Australian Stock Market Hits Record on Monday Amid Growth Sector Surge

Australian Stock Market Hits Record on Monday Amid Growth Sector Surge
Sharing is caring

The Australian stock market index was in for a surprise as it made a positive record on Monday. Investors were more interested in growing companies, like mining and technology, because they expected the central banks might stop increasing interest rates soon.

Australian Share Market Today

The leading Australian stock market index, the S&P/ASX 200, increased by 1%. It gained 69.3 points and reached 7142.5 around 12:56 pm AEDT. Almost all areas, except energy and utilities, showed positive results.

ASX Jumps With Gold and Other Miners

According to the Australian finance review on the stock market, companies that dig for valuable stuff (like gold) increased by 1.8%. This made companies like Evolution and Northern Star, which deal with gold, gain 3.7% and 4.3%, respectively. Big players in iron ore, BHP and Rio Tinto, also got more robust, increasing by 2.1% and 2.2%, respectively.

Education-related companies, like IDP Education, rose by 2.5%. In the area of things people buy for fun, companies like Wesfarmers went up by 0.7%, and Aristocrat Leisure went up by 1%.

Technology companies, like Xero and WiseTech, went up by 2%. Data centre operator NEXTDC had a significant gain of 3.8%, helping the technology sector recover from losses last week.

On the other hand, companies in utilities (like electricity and gas) went down by 2%. Origin, an energy company, lost 3.9% because people think shareholders might say no to a hefty $20 billion deal to buy the company by Brookfield and EIG on Monday. Insurance company QBE and energy company AGL also had significant losses, going down by 3.4% and 2.1%, respectively, because energy companies generally went down by 1.2%.

Latest Finance News Australia

There was a big celebration on Wall Street as the stock market had an excellent week on the Australian share market for the fifth time today. The main index, called the S&P 500, increased by 0.6%, reaching its highest point in over a year. The Dow Jones Industrial Average also did well, closing 0.8% higher, and the Nasdaq composite added 0.6%. More companies gained than lost, with about six winners for every one loser on the New York Stock Exchange.

The recent gains in the Australian stock market index followed its most robust performance over a year. Investors on Wall Street are becoming more hopeful that the Federal Reserve might lower interest rates early next year. This positive expectation has led investors to become more active in buying stocks, contributing to the ongoing upbeat mood in the financial markets.


The Content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content), is a service of COLITCO LLP and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is not a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Colitco LLP is neither licensed nor qualified to provide investment advice through this platform. Users should inquire about any investments, and Colitco LLP strongly suggests the users seek advice from a financial adviser, stockbroker, or other professional (including taxation and legal advice), as necessary. Colitco, at this moment, disclaims any liabilities to any user for any direct, indirect, implied, punitive, special, incidental, or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Colitco LLP. Some images/music used on this website are copyrighted to their respective owner(s). Colitco LLP does not claim ownership of any pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions, or are believed to be in the public domain. We have used reasonable efforts to accredit the head wherever it was indicated as or found to be necessary.

Visited 27 times, 1 visit(s) today

Sharing is caring
Close Search Window