The Australian Security Exchange – S&P / ASX 200, (which is the stock exchange in Australia), dramatically increased in the last week of August.
In this article we’ll analyse how the Australian Security Exchange (S&P / ASX 200) rose in growth and what were the reasons behind it.
The main reason for the growth was due to movement in the Australian banking sector plus the boom of Telco stocks.
As a result the Australian Security Exchange index (S&P / ASX 200) has increased by 0.35% within few days, ending at 6,270 points.
The Australian political situation and changes from last Friday have also influenced the index. The election victory of Scott Morisson as the new Australian Prime Minister who ousted Malcolm Turnball, has bought perceived political stability to the country.
Besides the politics, a few other things happened:
- Gold stocks were among the top gainers with an increase in their price of 2.7%
- The fall of funds run by NAB and CBA
- Energy and Telco services grew by 5.2% after announcing a record revenue of $577.6 million
- The Australian Dollar compare to the American Dollar was traded to 0.7313 from the 0.7284
This data had a macroeconomic influence on the S&P / ASX 200. For example the index was up by 21.6 points (0.35%). In futures the SPI200 grew by 0.36%.
On Friday evening of the 24th of August 2018, this is how the Stocks & Shares market looked like:
- 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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