Market Close 21 Jan 26: Local stocks sink for third day

The Aussie market slipped for a third day as escalating US-Europe trade tensions sparked global jitters. While a heavy Wall Street sell-off pressured Financials and Tech, the ASX 200 showed resilience as Materials and Energy sectors rallied. Gold and silver hit fresh record peaks, fueling surges in Northern Star, Evolution, and Westgold, while Paladin Energy jumped 13% on a strong quarterly update. However the banks dragged the index lower, led by a 2.2% fall in CBA. A major highlight was Australian Strategic Materials, which skyrocketed 118% following a US takeover bid. Looking ahead, local jobs data, a wave of quarterly reports from Fortescue and Santos, and Trump’s appearance at Davos all shape the next 24 hours. 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.