Market Close 20 Aug 24: Eighth straight day of gains for Aussie stocks

The Australian share market is on the cusp of its longest winning streak since 2015, having already logged eight consecutive days of gains. However, despite the optimism, today's rise has been modest, impacted by weaker iron ore prices and cautious investor sentiment ahead of central bank meetings. Key sectors like materials and tech are performing well, while property trusts lag behind, with Dexus leading the losses after posting a significant valuation-driven loss. On the corporate front, Baby Bunting and ARB enjoyed strong gains due to positive outlooks, while ANZ highlighted challenges with late mortgage repayments amid persistent inflation. With over 40 companies reporting tomorrow, it's set to be one of the busiest days of the reporting season. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.