Laura Bessarati
๐ค SpeakerAppearances Over Time
Podcast Appearances
So at the moment, the Aussie market currently hovering roughly around its lowest level in about six weeks.
So we really haven't been able to shake off those declines from CBA today after they released their results.
So the financial sector currently sitting at its worst level since December.
It's down by 4%.
And in fact, it's the only sector that's falling.
So completely the financials holding the market back because 10 of the 11 sectors are lifting today.
As we mentioned, you know, the materials sector has somewhat offset the declines that we're seeing in the financial space.
So we have seen BHP just continuing to climb in today's session.
Of course, yesterday, it surged to a fresh record high driven by record copper prices, particularly given that copper is BHP's largest earner now.
But iron ore prices have also remained very resilient, currently hovering around $111 US per tonne.
So that's
that's been supportive.
And today, you know, that momentum and BHP share prices just continued sending its shares to yet another fresh record high and really cementing it as the largest stock on the Aussie market, particularly with that hefty pullback in shares of CBA, which just widened the divide between the two companies in terms of market value.
Also, Rio Tinto has benefited from strong commodity prices, sending its shares to a record high as well today.
And that, combined with pretty broad-based improvements across many of the other mining stocks, has actually sent the materials sector within striking distance of its own record high.
So year-to-date, the materials sector up something like 20%, BHP is up 35%, and Rio Tinto up 30%.
A stock that's jumped to the top of the winner's list today has been gaming giant Aristocrat Leisure.
Its share price is up a little over 13% after reporting a surge in half-year profit that was driven by strong demand for its gaming machines and also digital gaming business.
And
It's also reported a bigger dividend as a result, so it's paying 50 cents per share compared with 44 cents per share the same time last year.