Latest Stock Market News, Live ASX News Today

1^st Mar 07:46 PM AEDT

1^st Mar 07:21 PM AEDT

1^st Mar 07:10 PM AEDT

1^st Mar 06:33 PM AEDT

1^st Mar 06:17 PM AEDT

1^st Mar 05:55 PM AEDT

1^st Mar 05:53 PM AEDT

1^st Mar 05:06 PM AEDT

1^st Mar 04:12 PM AEDT

1^st Mar 03:20 PM AEDT

1^st Mar 02:50 PM AEDT

1^st Mar 02:37 PM AEDT

1^st Mar 02:26 PM AEDT

1^st Mar 02:23 PM AEDT

Crude oil settles higher on rising supply concerns

Crude oil prices climbed up on Monday after the Western nations and Japan imposed more sanctions on Russia, blocking several Russian banks from a global payment system that could cause disruptions to its oil exports.

The country is facing intense challenges in its exports of almost every commodity ranging from crude oil to grains after Western nations block some Russian banks from the SWIFTS international payment system, a secure messaging system that facilitates rapid cross-border payments, making a smooth international trade flow.

In response to the new sanctions, Russia has put its nuclear deterrent on high alert. The nuclear alert coupled with the new sanctions on Russia has created supply concerns among traders.

The prices of Brent Crude oil hit the mark of US$105.07 during the early trading session on Monday. Earlier, the prices reached such high levels on Thursday after Russia officially announced to invade Ukraine.

May delivery Brent Crude oil futures last traded at US$98.88 per barrel up 0.82%, whereas April delivery WTI crude oil futures traded 0.90% up at US$96.58 per barrel as of 01 March 2022 at 12:27 PM AEDT.

Russia is facing severe disruptions to its exports of all commodities ranging from oil to grains after Western allies imposed stiff sanctions on Moscow and cut several banks from the SWIFT payment system. Russian crude oil which accounts for nearly 10% of the global supply was hit hard in the physical market.

1^st Mar 02:13 PM AEDT

1^st Mar 01:33 PM AEDT

1^st Mar 01:07 PM AEDT

1^st Mar 12:56 PM AEDT

1^st Mar 12:40 PM AEDT

1^st Mar 11:50 AM AEDT

ASX 200 edges higher at open; EU sanctions torpedoed Russian ruble to record low

The Australian share market edged higher on Tuesday, ahead of the central bank meeting, despite a continued volatility in global markets amid heightened geopolitical tensions as the war between Russia and Ukraine continued for the fifth day. The benchmark ASX 200 surged 1.1% or 79.3 points to 7108.7 in the first 15 minutes of trading.

The Russian ruble hit an all-time low on Monday as investors fret over a bombardment of sanctions from European countries on Russia including blocking Russian banks from the SWIFT global payments system.

As of 11:00 AM AEDT, the ASX 200 was trading 1.22% or 86 points higher at 7,135.1, while the ASX All Ordinaries index was up 1.25% or 91.8 points to 7,415. The A-VIX has fallen by 8.24% to 16.69.

On the sectoral front, 10 out of the 11 sectors were trading in green. The IT sector is buzzing with a 4.48% gain as tech stocks majorly ended positive on Wall Street on Monday. The financial, energy and telecom sectors were all trading above 1% each. The materials sector was trading in red, falling 0.42%.

1^st Mar 10:45 AM AEDT

ASX 200 to rise despite weak US stocks

The Australian share market is expected to open marginally higher on Tuesday ahead of the Reserve Bank of Australia’s (RBA) meeting, even as global markets remain volatile amid heightened geopolitical tensions amid Ukraine crisis.

According to the latest SPI futures, the ASX 200 is likely to open 5 points higher. The benchmark gained 0.7% on Monday.

Meanwhile, RBA is expected to maintain rates at a record low 0.10%. However, the market would be closely monitoring the tone of the interest rate statement.

On Wall Street, the Dow Jones fell 0.49%, the S&P 500 declined 0.24%, and the NASDAQ ended 0.41% higher.

On Monday, the Russian ruble hit record lows after West increased sanctions against Russia and blocked the Russian banks from the SWIFT global payments system.

Markets

Live ASX News Today