Table of Contents
Thursday Evening Wrap – Market Summary
The S&P/ASX 200 saw a notable increase, closing 101.1 points higher at 9,019.1, marking a gain of 1.13%. This impressive surge was buoyed by positive movements across all sectors, with the market hitting a new all-time high.
Sector Highlights:
- Industrials (XNJ) led the charge with a substantial gain of 3.4%, primarily driven by Brambles (BXB), which surged 13.2%.
- Consumer Staples (XSJ) and Consumer Discretionary (XDJ) both rose by 2.1%, boosted by notable performances from Super Retail (SUL) with a 12.3% increase.
- Positive recovery was observed in the battery metals and rare earths sectors, with Pilbara Minerals (PLS) up 5.2% and Lynas Rare Earths (LYC) rising 4.5% after recent losses.
Market Overview
| Indices Performance: | Index | Value | % Change |
|---|---|---|---|
| ASX 200 | 9,019.1 | +1.13% | |
| All Ordinaries | 9,284.2 | +1.16% | |
| Small Ordinaries | 3,506.0 | +1.18% | |
| All Technology | 4,295.5 | +0.68% | |
| Emerging Companies | 2,505.4 | +1.25% |
Currency:
- AUD/USD is slightly down at 0.6417, dropping 0.25%.
US Futures:
- S&P 500: 6,414.25 (+0.02%)
- Dow Jones: 44,965.0 (-0.07%)
- Nasdaq: 23,345.5 (+0.09%)
Blue Chip Movements
Top Gainers:
| Company | Last Price | Change $ | Change % | 1yr % |
|---|---|---|---|---|
| Brambles (BXB) | $26.30 | +$3.07 | +13.2% | +67.4% |
| Telix Pharmaceuticals (TLX) | $18.10 | +$1.18 | +7.0% | -7.3% |
| Downer EDI (DOW) | $7.34 | +$0.41 | +5.9% | +51.0% |
Top Losers:
| Company | Last Price | Change $ | Change % | 1yr % |
|---|---|---|---|---|
| Sonic Healthcare (SHL) | $25.05 | -$3.69 | -12.8% | -10.1% |
| James Hardie Industries (JHX) | $28.98 | -$3.02 | -9.4% | -42.9% |
Technical Analysis Overview
Nasdaq and ASX 200 Analysis
- The Nasdaq Composite displayed signs of resilience despite recent volatility.
- The S&P/ASX 200 demonstrated strong upward momentum, with technical indicators suggesting ongoing demand.
Economic Indicators
Recent data showed a significant uptick in the S&P Global Australia Composite PMI:
- Composite PMI: 54.9 (up from 53.8 in July)
- Services PMI: 55.1 (up from 54.1 in July)
- Manufacturing PMI: 52.9 (up from 51.3 in July)
These figures indicate a robust expansion in the Australian economy, reflective of strengthening business conditions and increased demand across sectors.
Upcoming Events
- Economic indicators to watch include the EU and US Flash PMIs being released on Thursday, and the Jackson Hole Symposium where market sentiments could shift based on Fed comments.
Conclusion
Today’s market performance reflects a surge in investor confidence, despite minor setbacks in certain sectors. The resilience shown by the ASX 200 and positive economic indicators suggest a solid foundation for future growth as we await further developments from key economic events ahead.
Investors should remain vigilant as we navigate through these dynamic market conditions.
