Shares in miners, consumer discretionary companies and technology firms dragged the Australian shares benchmark below the 8000-point mark on Tuesday after the local bourse hit a record high to start the week.
Utilities Mercury NZ and Meridian Energy were the top-performing megacaps. The industrial sector was also stronger, with Cleanaway Waste Management and Seven West Holdings the standouts. “Nevertheless, the markets remain supported by expectations for US rate cuts and what’s likely to be a solid earnings season for Wall Street,” he said, noting a cut is already baked into US equity prices for September and another by December.On Wall Street, which overnight was trading for the first time since the attack on the former and aspiring future US president, the “Trump trade” gained momentum.
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Source: FinancialReview - 🏆 2. / 90 Read more »