Winners and Losers: Australian shares enjoy slight Trump bump
The ASX200 edged up slightly last week amid optimism for President-Elect Donald Trump’s inauguration, with South Australian miners rising too.
Oil and gas exploration company Vintage Energy was the strongest performer of South Australian listed firms, rising by 50 per cent.
It was followed by fellow resources companies Orbminco (up 33.33 per cent), Investigator Resources (up 19.05 per cent), Marmota (up 18.75 per cent) and Archer Materials (up 13.75 per cent).
They all outperformed the ASX200 which rose by 0.2 per cent for the week – its second week of gains.
AMP chief economist Shane Oliver said a messy combination of negative and positive drivers had made it a “bit of a wobbly start to the year” for shares.
“The big negatives are rich valuations, higher bond yields, uncertainties as to how much the Fed will cut rates, uncertainties around Trump and various geopolitical risks,” Dr Oliver said.
On the flip side, global central banks are still in an easing cycle, there are “goldilocks” economic conditions particularly in the United States, optimism that Donald Trump will reinvigorate the US economy, and prospects for stronger profits ahead in Australia.
“The past week has been better and ultimately we see the positives dominating, resulting in positive returns for shares this year, but we expect a far more volatile and constrained ride over the year ahead than we saw in 2024,” Oliver said.
Eight of the ASX’s 11 sectors finished higher on Friday, with financials, telecommunications and property ending lower.
The financial sector was the biggest mover, dropping 1.0 per cent as all four of the big retail banks lost ground.
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Iondrive was the biggest Loser in South Australia, falling 20.69 per cent. It was followed by Whitebark Energy, iTech Minerals, Papyrus Australia and Mighty Kingdom.
The full list of Winners and Losers for the week ending 17 January:
Data compiled by Baker Young Limited analysts.
– with AAP
