‘Bullish sentiment is back’: ASX hits three month | Australian Markets

The Australian sharemarket inched nearer to a report high during Tuesday’s trading, notching up its fourth-straight day of beneficial properties as “deals get done” and “risk on sentiment” returns to the market.

Despite a flat begin to trading the benchmark ASX 200 index gained by 46.60 factors, or 0.56 per cent, to complete the session at 8,407.60 factors.

The broader All Ordinaries rose by 42.70 factors, or 0.50 per cent, to close at 8,631.50 factors.

All 4 massive banks completed within the inexperienced led by Westpac which is up 1.7 per cent to $31.78, whereas ANZ jumped 1.4 per cent to $29.06, NAB added 0.9 per cent to $37.75 and Australia’s largest bank CBA closed 0.8 per cent larger at $175.34.

As Wall Street loved its long weekend, Australian buyers confidence rose on the back of tariff pauses between Washington and the European Union.

US President Donald Trump says he’ll pause a 50 per cent tariff on the EU till July 9, to offer the trading bloc a probability to work out a trade deal.

“Bullish sentiment is back, trade deals are getting done, political global leaders are doing deals and want to do deals … everyone is looking forward to Nvidia saying what the world is going to look like for the next 10 years with 60 per cent of the biggest companies in the world buying more Nvidia chips,” Moomoo market strategist Jessica Amir informed NewsWire.

“Markets are probably going to take out their records very soon.”

With the anticipation of Nvidia’s announcement, the data technology sector drove the ASX rise with beneficial properties of 1.10 per cent, and a pair of.30 per cent for the previous 5 days, led by Wisetech and Technology One.

The second spark was ignited by Aussie copper stocks, with Capstone Copper Corp surged 6.5 per cent to $8.43 and Sandfire Resources jumped 3.09 per cent to $11.36 after Canadian heavy-hitter Ivanhoe Mines pulling out of Africa’s greatest copper mine.

“Copper is having a field day … China is probably about to really ramp up their production and development of semiconductors and new energy materials to power their economy for the next five years,” Ms Amir mentioned.

In company news, Telstra chief government Vicki Brady informed buyers Telstra would lower their workforce by 2030 in favour of AI.

TLS gained 0.42 per cent stronger to $4.75 regardless of opening within the purple, following Telstra’s investor day the place it introduced its five-year Connected Future 30 strategy.

Woodside closed at 0.6 per cent larger as federal Environment Minister Murray Watt indicated a doable optimistic end result for the businesses main $30bn North West Shelf enlargement plan.

The Australian greenback roughly held shopping for 64.42 US cents regardless of the Reserve Bank of Australia signalling additional charge cuts.

The US greenback traded on its third straight day of losses because the presumption of American exceptionalism continues to corrode underneath the unpredictable management of President Trump.

“The rise of the AUD is all about the death of the dollar, the US dollar. So not only do we have all the other major currencies rising such as the Aussie dollar, but we’ve also got the European dollar hitting one of its highest levels that we’ve seen for some time,” Ms Amir mentioned.