Site menu

Search by ticker code:
Generic filters

Menu

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Oil supports gains in All Ordinaries (INDEXASX:XAO): Karoon Energy Ltd (ASX:KAR) completes raising

The local market managed a positive start to the week with both the S&P/ASX 200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) gaining 0.1% on the back of strength in the energy sector.

Another rally in the oil price, which sent Brent crude beyond US$81 per barrel, supported both Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) to more than 1% gains, and the sector 1.3% higher.

Santos share price

Discretionary and financial stocks also benefited, up 0.6%, as Domino’s Pizza Enterprises Ltd (ASX: DMP) jumped 2.8% following its AGM.

Sticking with the energy sector, Karoon Energy Ltd (ASX: KAR) gained 3.4% after the company confirmed it had completed a discounted capital raising to fund the purchase of assets in the Gulf of Mexico.

Pathology provider Healius Ltd (ASX: HLS) which has seen buying interest from Australian Clinical Labs is also in the process of a capital raising to support a recapitalisation as lending covenants become stretched following a difficult 12 months.

ASX announces CHESS partner: Accent hit on slowing sales

The ASX Ltd (ASX: ASX) rallied on Monday, adding 1.2% after ASX provided another update regarding the replacement of the 29 year old CHESS replacement program. ASX announced they had partnered with global consulting firm, Tata Consultancy Services Ltd (NSE: TCS), to design the new system, but warned it will take an extended period of time.

ASX share price

Accent Group Ltd (ASX: AX1) fell by more than 8.5%, following a 10% fall last week, as sales growth continued to slow. Total retail sales were 2.1% for the year to date, however, same store sales across The Athlete’s Foot and Glue Store, declined by a similar amount.

Accent was more concerned about wholesale sales, being distribution to other retailers, which continue to slow. Despite this management announced they intend to open another 70 stores, including the Stylerunner and Skechers brands in the half.

US markets bounce out of correction: NVIDIA earnings ahead

US markets have officially rebounded out of a ‘technical correction’ recovering the 10 per cent of lost ground with a 0.7% surge in the Dow Jones Industrial Average (INDEXDJX: .DJI) to begin the week.

The S&P 500 (INDEXSP: .INX) and Nasdaq Composite (INDEXNASDAQ: .IXIC) were up 0.8% and 1.2% respectively, taking the three week rally to 9.6%.

The strength comes on the back of signs of a slowing domestic economy which is boosting hopes that rate cuts may lie ahead in 2024 sending bond yields from over 5% to 4.5% this week.

NVIDIA Corp (NASDAQ: NVDA) is set to release earnings on Wednesday morning and bounced 2% overnight, as did Microsoft Corp (NASDAQ: MSFT) after the company announced it was hiring OpenAI CEO Sam Altman to run it’s own internal division.

NVIDIA share price

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.


At the time of publishing, the author or their clients may have a financial interest in some of companies or securities mentioned.

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content