Afternoon update: ASX up 0.5%, Bitcoin ETFs approved in US

11Jan

Afternoon update: ASX up 0.5%, Bitcoin ETFs approved in US

 

Australian shares are up 0.5 per cent by mid-afternoon, boosted by Wall Street's mega-cap tech stock rally and the approval of US bitcoin exchange-traded funds. 10 out of 11 sectors showed gains, with consumer-related and tech stocks offsetting mining losses.

Key performers included JB Hi-Fi, Light & Wonder, Collins Food, and tech stocks like NextDC, Novonix, Megaport, and Tyro. Bitcoin also rose 1.3 per cent to $46,552 after the SEC's bitcoin ETF approval, and experts predicted it could reach over $100,000 by year-end.

Mining giants faced pressure due to a drop in iron ore prices, with Rio Tinto and Fortescue down.
Copyright 2024 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

15Oct

Qantas helps local shares push to flat: Aus shares 0.1% higher at noon

15 Oct 2019 - The Australian share market opened lower this morning following leads from the US but has gained some momentum and is now edging into positive territory in the second hour of trade. Retail Food Group (ASX:RFG) has announced a $190 million equity raising.

Read More
22Oct

Super Retail Group (ASX:SUL) shares take a dip despite reporting sales growth: ASX 0.2% higher at noon

22 Oct 2019 - The ASX opened higher following positive leads from Wall Street and is now tracking 0.2% higher at noon. Whitehaven (ASX:WHC) saw a rise in their shares this morning despite warning continued weakness in thermal coal prices. Shares in Super Retail Group (ASX:SUL) dropped this morning despite reporting that the Group delivered total sales growth of 4.2%.

Read More
25Sep

Trump’s political turmoil see US stocks fall: ASX set to open lower

25 Sep 2019 - The ASX looks set to open lower this morning after US stocks took a dive yesterday some seeing their worst falls in over a month as uncertainties arose over President Donald's Trump's future. OceanaGold Corporation (ASX:OGC) is pleased to announce that further extensive drilling at the Martha Underground Project at the Waihi Gold Mine in New Zealand supports an increase to the size of the exploration target.

Read More
19Nov

Market claws back on bank rally: ASX closes 0.3% higher

19 Nov 2020 - After a shaky start the ASX closed 0.3% higher today. Shares in ALS (ASX:ALQ) did well after reporting strong second quarter performance. Shares in Elders (ASX:ELD) dropped over 11%. 5G Networks (ASX:5GN) has acquired the Brisbane Data Centre in Fortitude Valley.

Read More
21Dec

Travel restrictions imposed on NSW after more Covid cases: ASX to open lower

21 Dec 2020 - The ASX looks set to open lower this morning as the new coronavirus outbreak has led to border restrictions with all states and territories closing their borders to NSW. European countries have closed their borders to the UK and the US is also coping with a second wave. Iron ore is on the up and the AUD is standing at almost US$0.76. Synlait Milk (ASX:SM1) has updated its full year 2021 guidance.

Read More
08Sep

US markets bounce back as Europe looks to ‘winter from hell’

08 Sep 2022 - Stocks rose on Wednesday - trying to shake off a three-week slide - as rates and oil prices eased, cooling investor concerns about continued high inflation. Behind the strong US equity markets however the economic war over energy continues to play out in Europe.

Read More
01Oct

Markets recover after chaotic Presidential debate: ASX poised for a rebound

01 Oct 2020 - The ASX looks set to rebound morning as Wall Street rose on hopes of a new stimulus. Gold edged down yesterday as a chaotic first US presidential debate drove investors to the safety of the dollar. China's official manufacturing Purchasing Manager's Index came in higher in September compared to August and US private payrolls increased. And business travel management company Serko (ASX:SKO) is conducting an equity raising of up to NZ$55 million.

Read More
27Aug

Wall St falls after Kabul blast, Why Platinum is an underperform: ASX to dip

27 Aug 2021 - Major indexes around the globe sold off ahead of the Fed’s virtual economic symposium at Jackson Hole tomorrow amid the two explosions outside the Kabul airport. Asian markets continued to digest “common prosperity” comments. A deep dive on what it could mean for the economy. Coverage on the yesterday's earnings on the ASX.

Read More
10Mar

Mesoblast (ASX:MBS) to evaluate stem cell therapy for COVID-19: Aus drop 0.4% at noon

10 Mar 2020 - The Australian share market opened lower again this morning dropping 0.4 per cent by noon. Overnight, the Dow entered into an emergency 15 minute trading halt to prevent panic selling after it went into free fall.

Read More
25May

Aus shares open firmly higher despite simmering global tensions: UBS remains bearish on Afterpay (ASX:APT)

25 May 2020 - The Australian sharemarket has opened the week firmly higher, extending its rebound and is trading at an 11 week high. The stellar start comes as geopolitical tensions threaten to boil over.

Read More