Skip to main content

Closing Bell 30 November

Sophia Mavridis
November 30, 2022

In the first hour of trade, the Australian share market was lower ahead of the monthly inflation reading, however when CPI was announced at 11:30am, good news boosted the market. The monthly consumer price index advanced 6.9% in the year to October, slowing from September’s record high of 7.3%, and below market consensus of a 7.4% gain.  The reading showed a softer rise in food prices than previously, however prices were rising across most food categories, with prices rising the most in fruit and vegetables and meat and seafoods. The RBA expects inflation to peak at the end of the year at around 8%.

In other economic news, October residential building approvals slid 6.4% on the year.

The materials sector advanced today, with lithium miners lifting the group. Coal miners were also buoyant, with Whitehaven Coal (ASX:WHC) and New Hope Corporation (ASX:NHC) closing with solid gains. The energy sector was the best performer, advancing 1.8%, followed by real estate stocks. Financials on the other hand, were weighed down by insurance companies, with Insurance Australia (ASX:IAG), Suncorp (ASX:SUN) and QBE Insurance (ASX:QBE) all in the red. And utilities, consumer staples and healthcare were the worst performing sectors.

Looking at the AX200 leaderboard, Sayona Mining (ASX:SYA) jumped over 12% today, followed by Whitehaven Coal (ASX:WHC), New Hope (ASX:NHC) and Lake Resources (ASX:LKE). The worst performing stock was gold miner St Barbara (ASX:SBM).

The Australia dollar is slightly up, with 1 Aussie dollar buying US$0.67, 55.85 British Pence, 92.81 Japanese Yen, and NZ$1.08.

Weekly Wrap 25 October

Bell Direct
October 25, 2024

Morning Bell 24 October

Bell Direct
October 24, 2024

Morning Bell 23 October

Bell Direct
October 23, 2024

Morning Bell 22 October

Bell Direct
October 22, 2024

Morning Bell 21 October

Bell Direct
October 21, 2024

Weekly Wrap 18 October

Bell Direct
October 18, 2024

Morning Bell 17 October

Bell Direct
October 17, 2024

Morning Bell 16 October

Grady Wulff
October 16, 2024

Morning Bell 15 October

Bell Direct
October 15, 2024

Morning Bell 14 October

Bell Direct
October 14, 2024

Weekly Wrap 11 October

Bell Direct
October 11, 2024

Morning Bell 10 October

Bell Direct
October 10, 2024