Thanks @Quantum Torus, @Ravgnome and AM Loungers. It was a Bay City Rollers Memorial Party in the Lounge last night. Also some timely reminders that we are all here for the same reason so why the hell some people feel they have to personally attack others is beyond me.
The Swedes were victorious against Switzerland this morning with a 1-0 scoreline. The England vs Colombia match got quite heated at times with Colombia's last minute goal putting the match into extra time and the dreaded penalty shootout. England join Russia and Croatia who also made it into the quarter finals via this nail biting path.
Australian shares have finished stronger, with gains in financial, energy and health care stocks outweighing losses in the mining sector.
The benchmark S&P/ASX200 index rose 32.4 points, or 0.52 per cent, to 6,210.2 points, while the broader All Ordinaries index gained 29.5 points, or 0.47 per cent, to 6,302.8 points.
CommSec market analyst Steven Daghlian said there was strong support for banking stocks, despite a sluggish start for the sector in the morning after Wall Street ended higher overnight.
"This is a sector that has been sold quite heavily for most of the year, they certainly have not been a standout part of the market," Mr Daghlian said.
"They're still down about four per cent if you look at the financial industry as a whole and that compares to the broader market, which is up about 2.5 per cent."
Commonwealth Bank rose 1.8 per cent to $73.97, National Australia Bank gained 1.2 per cent to $27.74, ANZ rose 0.9 per cent to $28.08 and Westpac added 0.7 per cent to $29.39.
Tuesday's gain was only the second in eight days on the ASX, and trading volumes were lighter than usual with some people away from work because of the school holidays, Mr Daghlian said.
The energy sector finished 0.9 per cent higher, thanks to strong gains in Caltex and Woodside Petroleum.
Bucking the broader market was the materials sector, as commodity prices fall overnight on concerns about the economic impact of China's trade dispute with the US, Shaw and Partners senior private client adviser Craig Sidney said.
Iron ore dropped 0.7 per cent, and gold and copper fell to six and seven month lows, respectively.
BHP Billiton and Rio Tinto fell 1.6 per cent to $33.05 and 3 per cent to $80.80, respectively.
Australia's central bank held the nation's official interest rate on hold at its record low of 1.5 per cent for the 23rd month in a row, as was widely expected, with few economists now tipping a rate hike before mid-2019.
The Australian dollar was broadly flat, trading at 73.79 US cents at 1700 AEST, from 73.78 US cents on Monday.
ON THE ASX:
* The benchmark S&P/ASX200 closed up 32.4 points, or 0.52 per cent, at 6,210.2 points
* The broader All Ordinaries index was up 29.5 points, or 0.47 per cent, at 6,302.8 points
* The SPI200 futures contract was up 33 points, or 0.54 per cent, at 6,170 points at 1630 AEST
CURRENCY SNAPSHOT AT 1700 AEST:
One Australian dollar buys:
* 73.79 US cents, from 73.78 on Monday
* 81.922 Japanese yen, from 81.674 yen
* 63.36 euro cents, from 63.31 euro cents
* 56.12 British pence, from 55.97 pence
* 109.89 NZ cents, from 109.08 cents
GOLD:
The spot price of gold in Sydney at 1700 AEST was $US1,242.50 per fine ounce, from $US1,249.446 per fine ounce on Monday
Wall Street dipped on Tuesday, weighed down by Apple, Facebook and other technology stocks, in a trading session ending early ahead of the U.S. July 4 holiday.
Facebook dropped 2.35 percent after the Washington Post reported a federal probe on the data breach linked to Cambridge Analytica was broadened and will include more government agencies.
The dip in the social media company’s stock, along with a 1.7 percent slide in Apple, weighed on the S&P technology sector, which fell 1.37 percent.
Energy stocks held onto gains even after crude oil prices reversed course shortly after the market opened as traders booked profits.
Trade tensions continued to fester, with U.S. President Donald Trump on Monday making a veiled threat against the World Trade Organization. Also looming is a July 6 deadline when Washington is set to impose tariffs on $34 billion worth of Chinese goods.
“In the short term, company fundamentals are quite solid and the economy is strong,” said Brant Houston, managing director at CIBC Private Wealth Management.
“But with the trade war looming there is a lot of uncertainty and a lot of unknowns. Until we get more clarity there it is difficult for investors to jump back into the equity market.”
The Dow Jones Industrial Average declined 0.54 percent to end at 24,174.82 points, while the S&P 500 lost 0.49 percent to 2,713.22.
The Nasdaq Composite dropped 0.86 percent to 7,502.67.
With U.S. exchanges closing at 1 p.m. ET ahead of the July 4 holiday, volume was 3.9 billion shares, compared to the 7.1 billion average over the last 20 trading days.
Economic data was mixed. New orders for U.S.-made goods unexpectedly rose in May, pointing to a strengthening manufacturing sector, but business spending on equipment continued to show signs of slowing.
Advancing issues outnumbered declining ones on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.23-to-1 ratio favored advancers.
The S&P 500 posted 8 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 75 new highs and 36 new lows.
Source: Netwealth Morning Business Roundup
Serving up an English Breakfast for those in need of substantial sustenance.
In consideration of others, PLEASE include the STOCK CODE in all your posts.
Happy trading, play nicely and make informed decisions.
