Market Update 19 March

Jessica Amir
March 19, 2020

The Aussie share market gained 2.6% in the first 30 minutes of trade, (but is now tracking 0.5% lower) fuelled by positive news in Europe as the European Central Bank (ECB) just launched a $750 billion stimulus package. Secondly- the market is rallying ahead of the Reserve Bank of Australia’s 2.30pm decision, with rates expected to be cut to 0.25%. Finally, for quantitative easing to be introduced – to inject new money into the economy to support businesses.

The only sector in the red earlier was the energy sector- as the oil price fell to a new 18- year low of US$22.45. Pressure remains on travel related stocks like Flight Centre (ASX:FLT) down 20%, and Corporate Travel Management (CTD) down 16% with Qantas stoping international flights later this month.

The Aussie dollar also hit a new 17 year low, 57.87 US cents. That’s where it last traded in January 2003. It’s bad for importers and great for our exporters.

Morning Bell 13 August

Bell Direct
August 13, 2020

Morning Bell 12 August

Jessica Amir
August 12, 2020

Morning Bell 11 August

Jessica Amir
August 11, 2020

Morning Bell 10 August

Paulina Peters
August 10, 2020

Weekly Wrap 7 August

Bell Direct
August 7, 2020

Morning Bell 7 August

Geoff Beeston
August 7, 2020

Morning Bell 6 August

Paulina Peters
August 6, 2020