The Australian Security Exchange – S&P / ASX 200 has dramatically increased the last week of August. In this article we will analyze how the Australian Secrity Exchange (S&P / ASX 200) rose and what are the reasons behind it.
Thanks to a growth of the Australian banking sector plus the boom of Telco stocks, the Australian Security Exchange index (S&P / ASX 200) has increased of the 0.35% in few days, ending at 6,270 points.
The australian political situation and changes from last Friday has influenced the index. Having now Scott Morisson as Australian new prime minister instead of Malcom Turnball has given to the country more stability.
At the same time few other things happened:
- Gold stock were among the top gainers with a rose in their price of 2.7%
- The fall of funds run by NAB and CBA
- Energy and Telco services grew of the 5,2% after announcing a record revenue of $577.6 million
- The australian dollar compare to the american was traded 0.7313 from the 0.7284
All these datas had a macroeconomic influence on the S&P / ASX 200. For instance the index was up 21,6 points (0.35%). In futures the SPI200 grew of 0.36%.
On Friday night the 24th of August in the Stock & Shares’ market this was the situation:
- 0.7313 AUD/USD, from 0.7284
- 0.8124 AUD/JPY, from 0.8108
- 0.6304 AUD/EUR, from 0.6295
- 109.52 AUD/GBP, from 109.56
- 109.52 AUD/NZD, from 109.49
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