Stock Market - Australia - W/E - July 5, 2024

The S&P/ASX 200 (XJO) finished 15.9 points lower at 7,815.9, 0.19% from its session low and just 0.12% from its high. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a narrow 125 to 140.

For the week, the XJO finished up 54.8 points or 0.71% higher, 1.6% from its intraweek low and just 0.32% from its intraweek high.

Health Care (XHJ) (+0.74%) was the best performing sector today, likely in response to gains in its largest constituent, CSL (ASX: CSL) (+0.76%). I’ve featured CSL in my ChartWatch Daily Scans uptrends list several times over the last couple of weeks. I think it looks even more the picture of demand-side control after today’s candle.

Lotus Resources or Adriatic Metals Plc or Adriatic Metals BH or Pilbara Minerals Limited or Fenix Resources Limited or De Grey Mining Ltd or Rio Tinto or Fortescue or BHP or Perseus Mining Limited or South32 or Deterra Royalties

Source - https://www.marketindex.com.au/news/evening-wrap-asx-200-dips-in-listless-trade-csl-leads-healthcare-higher

1. LNG - https://www.bloomberg.com/news/articles/2024-07-04/australia-runs-the-risk-of-gas-shortfall-by-2027-watchdog-says
2. Iron-Ore - https://gmk.center/en/news/global-iron-ore-exports-grew-by-5-y-y-in-the-first-half-of-the-year/
3. Lithium - https://www.corelithium.com.au/ Core Lithium or https://www.australianresourcesandinvestment.com.au/2024/07/05/global-lithium-hits-higher-recovery-at-manna/
4. Copper - https://www.australianmining.com.au/bhp-goes-green-at-worlds-largest-copper-mine/
5. GDP - https://www.macrobusiness.com.au/2024/07/australias-consumer-recession-projected-to-deepen/
6. Currency - https://finimize.com/content/australian-dollar-hits-six-month-high-while-new-zealand-dollar-gains
7. Trade - https://www.hellenicshippingnews.com/australia-trade-balance-shrinks-more-than-expected-in-may-amid-weak-exports/
8. Agriculture - https://www.aspistrategist.org.au/australia-needs-a-food-security-strategy/
9. Small to medium enterprise - https://minister.dcceew.gov.au/bowen/media-releases/joint-release-50-million-metro-20240705 or
10. Generative AI https://www.innovationaus.com/why-australia-shouldnt-pursue-sovereign-ai/

Paul Young CPA CGA

Paul is a former IBM Customer Success Manager that has deployed over 300 data and AI solutions across industry and geographies for the past 8 years. Paul is a Financial Planning, Analysis, and Reporting SME working with data including integration of macro and micro indicators as part of the integrated business planning and reporting cycle.

[email protected]

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