Financial services have the biggest gain in ASX this month

The financial sector dominated the market while NAB and AMP faced the royal commission. ANZ rose 2.1% to 26.96 dollars, Westpac rose 1.3% to 26.28 dollars, the Commonwealth Bank rose 1.2% to 72.21 dollars and the NAB closed at 24, $ 89, up 1.1%.

The major insurers also helped the sector. The Insurance Australia group's shares rose 2.2% to $ 7.39 and QBE Insurance 1.9% to $ 11.45.

Rising oil prices Monday ahead of the G20 summit helped lift the local energy sector on Tuesday.

Brent slipped 5.4% in the previous session but rebounded Monday, rising 2.9% to 60.48 dollars per barrel. WorleyParsons grew by 1.8% to 13.11 dollars, that of Santos by 5% to 5.60 dollars and that of Beach Energy from 2.1% to 1.50 dollar.

Technology stocks were among the most successful in the market, after a gain similar to Wall Street on Monday.

Amazon shares rose 5.3% in the United States, with Adobe Analytics reporting Cyber ​​Monday spending at a record high. The sales frenzy gave Afterpay Touch shares a boost in the local market on Tuesday, rising 8.6% to $ 12.97.

Appen shares rose 5% to $ 13.34 after an upgrade by UBS. Technology One grew 6.8% to $ 5.99 and Wisetech Global closed up 3.9% to $ 17.01.

Coles Group led Tuesday's market losses after UBS initiated a stock hedge with a sale price and a price target of $ 11.90. According to Coles, if business was going well, there were many headwinds in the short term. His shares fell 1.7% to $ 12.89.

Syrah Resources shares fell 5.6% to $ 1.60. A terrorist attack in Mozambique's Cabo Delgado province, where the Syrah Balama graphite project is located, killed 12 people. This is the fourth attack in the province since early November.

The company had already taken steps to dispel the investor's concern over the production disruptions in the region.

Watch of stock

Woolworths

UBS turned Woolworths from neutral into a buyer and said the market did not take into account the management of capital and the improvement of the context. The broker indicated that he expected the company to undertake an off-market takeover in 2019 and added that the grocery store context was improving. The grocery market has become more rational and the growth of the industry has accelerated, Woolworths gaining market share. The broker added that the industry's reactions implied that buyers who had left the supermarket as a result of the Coles' Little Shop promotion were now returning to Woolworths. The broker said that it was a proof of Woolworths' superior performance and a tangible sign that the investment was paying off. UBS has increased its price target on Woolworths from 28.20 USD to 31.25 USD.

What moved the market

S & P 500 sectors

While the S & P 500's 10% drop since early October may be partly explained by the drop in oil prices, this decision further reflects concerns about the US economy, according to the chief economist at the markets. Capital Economics, John Higgins. While the sell-off was driven by the downturn in the energy sector, the Information Technology and Consumer Discretionary sectors also weighed. "It's hard to slide the slide in the computer and consumer discretionary sectors over concerns about their valuations," Higgins said. "Instead, the slippage is probably due to concern over the earnings outlook."

Raw Brent

Oil prices continued to trade with volatility Monday which rebounded after a sell-off on Friday. The market is characterized by great uncertainty and the future of oil production in Saudi Arabia is somewhat clouded. The UK's comments suggest that it is willing to reduce its production levels in order to stabilize prices, but they continue to produce oil at record levels, a Bloomberg report suggesting that the country's output had reached 11.2 million barrels a day, up from 10.8 million barrels earlier this year. Brent rose 1.4 percent to $ 60.60 a barrel on Monday as investors geared up for the G20 summit, which will bring together some of the world's largest oil producers.

Indian rupee

The Indian rupee has recovered from the trough of last month thanks to the recovery of crude prices, but its rebound has been limited by political uncertainty and capital outflows from financial markets. Elections for the bademblies in Chhattisgarh, Madhya Pradesh, Rajasthan, Telangana and Mizoram are expected to take place in the next two months, in anticipation of the general elections in India, which will take place in April or May 2019. Foreign capital from bond markets could also hurt the rupee. Oil prices have up to now limited the disadvantages for the rupee, but the G20 Summit and the OPEC meeting in the coming weeks could change that.

Chinese application

According to CBA forecasts, China's demand for bulk and base metals is expected to moderate further over the next five years. They expect a growth in aluminum consumption in China and a halving of nickel and copper, and a drop in thermal coal consumption. The growth of iron ore is expected to be stable. "The slowdown in China is broadly in line with the political goals of shifting the structure of the economy from the manufacturing and investment sectors to services and consumption," said Vivek Dhar, mining and quarry badyst. energy at the CBA.