|Dow Breaks 23,000 Milestone |
Added On - 10/18/2017 8:05:59 AM
Believe it or not but the overnight futures market has the ASX 200 opening flat this morning, despite another surge on Wall Street overnight that saw the Dow briefly breach the 23,000 level for the first time in its 121-year history.
|ANZ Offloads Wealth Management Business To IOOF|
Added On - 10/18/2017 8:05:36 AM
ANZ continues on its self-inflicted diet with the news yesterday that it will sell its superannuation and financial planning businesses to IOOF Holdings for $975 million.
|Oil Search Posts Strong Quarterly Output, Sales|
Added On - 10/18/2017 8:01:18 AM
Thanks to a strong three months output from the PNG LNG project, Oil Search says it remains on track to meet its 2017 guidance after lifting September quarter production and reporting a solid 22% jump in revenue for the latest three month period.
|Lithium Play Galaxy Hits 8-year High On Q3 Numbers|
Added On - 10/18/2017 8:01:12 AM
Shares lithium producer Galaxy Resources surged and sagged yesterday in the wake of the release what was on the whole an encouraging production report for the three months to September.
|Copper Disappoints As Rio's Iron Ore Shipments Beat|
Added On - 10/18/2017 8:01:04 AM
Shares in Rio Tinto hit a more than five year high on Tuesday after the company reported a lift in quarterly shipments from its iron ore operations in Western Australia.
|Telstra Defends Dividend Policy, Tougher Times Ahead|
Added On - 10/18/2017 8:00:46 AM
No real reaction from the Telstra share price from yesterday's handwringing by the company's chairman John Mullen about the dividend cut.
|5.5 Million New Subscribers Stream Into Netflix|
Added On - 10/17/2017 8:00:13 AM
Netflix justified the bullish upgrades on Friday by JPMorgan and Goldman Sachs in its third quarter report this morning (Tuesday) to reveal a surge in subscriber numbers, especially international customers.
|Rio Eyes Pacific Aluminium Sale|
Added On - 10/17/2017 7:59:31 AM
Rio Tinto reports its third quarter production and sales data today, but the company might have sale news about its Pacific Aluminium assets.
|OZ Minerals To Close Prominent Hill Pit Early|
Added On - 10/17/2017 7:52:25 AM
Oz Minerals says it has brought forward plans to close the open pit at its Prominent Hill mine in outback South Australia to the first quarter of next year from mid-2018 as work on its underground extension continues towards completion.
|Evolution Posts Strong Quarter|
Added On - 10/17/2017 7:52:19 AM
Gold miner Evolution has lifted production and cut costs in the September quarter, helped by a strong performance at its Cowal mine in NSW and Ernest Henry and Mt Carlton mines in Queensland.
|Chinese Inflation On The Turn?|
Added On - 10/17/2017 7:52:11 AM
Economists, central bankers, politicians and many in business are wondering why inflation remains weak in major economies. Yesterday we had signs that the recent weakening in inflationary pressures in China might be on the turn.
|Weak Radio Rentals Sees Thorn Group Warn On Profits|
Added On - 10/17/2017 7:51:38 AM
Thorn Group slumped yesterday after it slashed its earnings guidance by around 30% for the year to March 31 next year and raised questions about the sustainability of its already reduced dividend.
|Oil Prices End At A 2-Week High|
Added On - 10/16/2017 8:14:24 AM
Oil prices ended at a two-week high Friday, with US crude recording its biggest weekly gain for a month as the US dollar fell for the day and the week.
|Weak US Inflation Drops US Dollar, Lifts Wall St|
Added On - 10/16/2017 8:13:38 AM
Weak underlying US inflation for September has again raised questions abut the path of US interest rates, and it seems Wall Street is picking up positives from that scepticism.
|Buffett's Two Favorite Banks Report Results|
Added On - 10/16/2017 8:12:49 AM
Warren Buffett's two favourite banks helped kick off the US third quarter reporting season on Friday, producing contrasting results for the three months to September, which in turn received the appropriate stockmarket receptions.
|Brokers Get Bullish On Netflix|
Added On - 10/16/2017 8:09:22 AM
Thanks to some bullish broker upgrades on Friday night in the US, there's an awful lot riding on Netflix's third quarter figures on Tuesday morning, Sydney time.
|China Iron Ore Demand Robust In September|
Added On - 10/16/2017 8:09:16 AM
So much for all that talk about weak demand for steel commodities from China - especially iron ore and coal. Trade data for September out on Friday showed a record 103 million tonnes of iron ore and a three year high of more than 27 million tonnes of coal were imported last month.
|China Trade Data Picks Up In September|
Added On - 10/16/2017 8:09:10 AM
No worries from China's trade data for September - a surge in imports telling us that the economy is doing well. Exports rose by less than expected, but instead of that generating the usual warnings of gloom, markets took that news in their stride.
|Diary: Local Jobs, Resource Reports, China Congress|
Added On - 10/16/2017 8:09:01 AM
A big week for markets around the world, including Australia with the September jobs data and some big quarterly production reports.
|Bank Earnings Drag On Wall St|
Added On - 10/13/2017 8:06:37 AM
Weakish third quarter results from banking giants, JP Morgan and Citigroup helped knock Wall Street off its record perch overnight Thursday.
|BoQ Earnings Beat, Pays Special Dividend|
Added On - 10/13/2017 8:01:50 AM
A muted response from investors to the surprise special dividend declared yesterday by the Bank of Queensland (BOQ) with its full year results.
|Transurban Eyes WestConnex Stake|
Added On - 10/13/2017 8:01:36 AM
Transurban and the NSW Government have started their two step that could see the country's largest toll road company become the part-owner of the country's largest Australia's largest infrastructure development.
|Hurricane Ophelia Adds To Insurers Woes|
Added On - 10/13/2017 8:00:45 AM
To Nate, Maria, Harvey and Irma we now can add a potential new nasty, Ophelia as the 10th Hurricane of the US season - tying for the all time record set back in 1878!
|Bellamy's Share Price Jumps On Lift To FY Guidance|
Added On - 10/13/2017 8:00:38 AM
Shares in dairy products group, Bellamy's jumped more than 6% yesterday as the at times embattled company provided more evidence that it has shaken off its woes and is back on track.
|French Hotelier Woos Mantra|
Added On - 10/13/2017 8:00:30 AM
Hotel group Mantra didn't take long to say 'yes' to the marriage proposal from French accommodation giant, Accor.
|China Steel Cuts Cool Iron Ore|
Added On - 10/12/2017 8:12:29 AM
Seaborne iron ore prices fell below $US60 a tonne on Wednesday as more production restrictions were reported from China's steelmaking hub of Tangshan in the northeast of the country.
|Myer Reveals New Chair|
Added On - 10/12/2017 8:07:40 AM
From the fruitless defence of Spotless against Downer EDI, to another under performer in the Myer department store chain - businessman Garry Hounsell seems to be a bit of a sucker for the fruitless in corporate performance.
|BlueScope Confirms Energy Costs To Weigh|
Added On - 10/12/2017 8:07:29 AM
BlueScope Steel says it is still on track to report sharply lower underlying result for the six months to December.
|Cautious NAB Forecasts Two RBA Hikes In 2018|
Added On - 10/12/2017 8:07:18 AM
NAB has updated its economic forecasts for the next year and while maintaining its belief that the Reserve Bank will make two rate rises in the second half of 2018 calendar year, the bank professed that it was even more cautious than the central bank.
|Pro-Pac Shares Hold Up Into Cap Raising|
Added On - 10/12/2017 8:06:58 AM
A quiet vote of confidence from investors for Pro-Pac's $55 million capital raising aimed at completing the financing of a deal that will more than double the size of the company.
|Wal-Mart Upgrades Outlook Amid Digital Ramp-Up|
Added On - 10/11/2017 8:17:29 AM
Wal-Mart has punctured all the dire warnings about the dangers posed to retailers in the US (and elsewhere) from Amazon and its takeover of US high end grocery chain, WholeFoods.
|California Fires Hit Treasury Wines|
Added On - 10/11/2017 8:16:20 AM
Treasury Wine Estates shares eased 1.4% to $14 yesterday after the company revealed 'limited damage' to its northern Californian wine businesses from the terrible fires that have killed at least 13 people and caused tens of billions of dollars in property damage.
|Will A Higher Bid Emerge For Mantra?|
Added On - 10/11/2017 8:13:04 AM
Mantra Group shares popped another 1.3% yesterday despite analysts at two investment banks casting doubt on the chances of another potential bidder emerging to top the $1.2 billion non-binding offer from Accor.
|AIG Warns Hurricane Damage Will Cost It $3 Billion|
Added On - 10/11/2017 8:12:50 AM
The damage to insurance companies worldwide continues to rise as the accounting for the impact of the three terrible hurricanes and Mexican earthquakes continues.
|Business Conditions Rock Solid: NAB|
Added On - 10/11/2017 8:12:39 AM
Australian business conditions stayed rock solid in September, while confidence edged up following the big decline last month, the latest monthly survey from the National Australia Bank confirmed yesterday.
|Persol Bid Sees Programmed Delist|
Added On - 10/11/2017 8:12:13 AM
It's offical, as of the close of trading today, Programmed Maintenance Services will no longer exist after the Federal Court approved the scheme of arrangement under which Persol Holdings of Japan will acquire all of the shares in Programmed.
|Saudi Arabia Cuts Oil Exports|
Added On - 10/10/2017 7:55:44 AM
In a move that could be bullish for oil prices, Saudi Arabia has cut the amount of oil available for export - and told the world about it.
|WorleyParsons In UK Oil & Gas Acquisition|
Added On - 10/10/2017 7:55:16 AM
After years of cutbacks and huge staff losses, WorleyParsons is opening its corporate wallet and will expand into the North Sea after buying AFW UK Oil & Gas for $303 million, but not before asking big shareholders for help.
|Accor Bids For Hotel Operator Mantra Group|
Added On - 10/10/2017 7:55:02 AM
The Paris-based hotel giant Accor has made a $1.2 billion all cash 'hug' for Australia's second biggest hotel operator Mantra Group. It is not an outright offer, more an attempt to gain the right to due diligence on Mantra, which has been granted.
|Select Harvests Rejects UAE Takeover Bid|
Added On - 10/10/2017 7:54:21 AM
Just as Accord is attempting to 'hug' Mantra with a fat 'non-binding', indicative offer, so an attempt to try and inveigle Select Harvests the same way has failed for a Middle Eastern investor.
|Oil's Rally Above $50 Ends|
Added On - 10/9/2017 7:31:35 AM
Oil prices fell last week, with US futures ending the week under the important $US50 a barrel level for the first time for several weeks.
|Financials Lead US Q3 Earnings Season|
Added On - 10/9/2017 7:31:20 AM
The US third quarter earnings season kicks off this week with the reporting expected to be dominated by hurricanes Harvey, Irma and Maria, especially among financials and insurers.
|Diary: US Inflation, RBA Stability|
Added On - 10/9/2017 7:31:07 AM
Inflation data this week for the US economy won't impact thinking on the next rate rise from the Fed - in fact some economists reckon it could spike, adding to the pressures for another rate rise this year.
|Iron Ore Marks Time As China Holidays|
Added On - 10/9/2017 7:30:59 AM
Gold and oil fell, copper and zinc had a good week and iron ore marked time as China holidayed.
|Storm Damage Hits US Job Growth|
Added On - 10/9/2017 7:30:44 AM
Expect an uncertain start to trading on Asian and Australian stock markets today after the US ended on a very weak note thanks to a mixed up jobs report for September that was as expected clouded by hurricanes Irma and especially Harvey.
|Wall St Finds Fresh Highs|
Added On - 10/6/2017 8:05:21 AM
Yet another record closing for Wall Street stocks - but not for commodities like gold or oil. Our market will be up more than 30 points if the overnight trading on the ASX 200 is any guide.
|Qantas Shares Surge After Goldman Sachs Upgrade|
Added On - 10/6/2017 7:51:38 AM
Investors grabbed the ness of an upgrade for Qantas shares yesterday from Goldman Sachs and sent the shares to all time highs.
|Reassessing QBE's Damage Claims|
Added On - 10/6/2017 7:51:31 AM
QBE's forecast that 2017 'will likely prove to be the costliest year in the history of the global insurance industry' is a big call. After all no one has so far checked that against the record.
|Retail Sales Sink As Consumers Close Wallets|
Added On - 10/6/2017 7:51:21 AM
One of the mysteries of yesterday's market is why the shares in major retailers like Wesfarmers and Woolworths were not punished in the wake of the shockingly bad retail sales figures for August.
|Warren Buffett Makes A Truck Stop|
Added On - 10/5/2017 8:04:16 AM
Warren Buffett's Berkshire Hathaway has bought a large minority stake in Pilot Flying J, the largest North American truck stop operator, and will become the majority owner in six years time.
|QBE Damage Priced In?|
Added On - 10/5/2017 8:04:01 AM
QBE rose nearly 3% (to $10.09) in yesterday's weak wider market and all but recapturing the 3.5% slide of Tuesday after the shock blowout in the cost of natural disasters forecast for the year to December.
|MotorCycle Holdings Gears Up In Parts Deal|
Added On - 10/5/2017 8:03:49 AM
Investors grabbed shares in MotorCycle Holdings, (which is one of Australia's largest motorbike dealers) after it revealed plans yesterday to punt the company on a plan to buy an accessories and parts retailer for $123.2 million.
|Moody's 'Negative' Warning On Trump Tax Plan|
Added On - 10/5/2017 8:02:52 AM
The Moody's credit rating agency has exposed the shoddy analysis and boosterism about the latest 'tax policy/cut' trumpeted by President Donald Trump last week especially here in Australia from some analysts and the likes of the Business Council, Treasurer Scott Morrison and Malcolm Turnbull.
|Monarch In UK's Biggest Airline Collapse|
Added On - 10/4/2017 8:00:50 AM
The sudden collapse of Monarch Airlines, the UK's 5th largest airline, has left the European airline industry is starting to look like an emergency ward with three cut price operators or full service airline collapsing in the past couple of months and the largest, Ryanair struggling under self inflicted managerial incompetence that has left it short of pilots and forced to cancel hundreds of thousands of passenger journeys.
|TechOne Tumbles On Profit Warning|
Added On - 10/4/2017 7:55:09 AM
TechnologyOne shares were harshly dealt with yesterday after it shocked the market with an almost halving in its profit growth rate for 2016-17.
|QBE Confirms 'Costliest Year'|
Added On - 10/4/2017 7:54:58 AM
We have warned twice in the past month that QBE might be hit by the impact of those recent huge US hurricanes. And hit they have been, along with the impact of Cyclone Debbie in Australia in march and the recent Mexican earthquakes.
|Housing Approvals Softer But Stable|
Added On - 10/4/2017 7:54:50 AM
Don't worry about the slight miss in August housing approvals - look more at what is clearly a stabilising of the fall of the past year and the growing belief that the sector will be making a contribution to growth for a bit longer than previously expected.
|RBA Pours Cold Water Over Rate Moves|
Added On - 10/4/2017 7:54:22 AM
As expected the Reserve Bank yesterday kept its key cash rate steady at the historical low of 1.5% for the 14th month in a row.
|Wall Street Logs Fresh Record Highs|
Added On - 10/3/2017 7:59:00 AM
Wall Street hit new record highs overnight and the Australian market is heading for a 20 point plus gain at the opening this morning after its holiday Monday surge yesterday.
|Diary: RBA, US Jobs, Global Manufacturing|
Added On - 10/3/2017 7:56:35 AM
US jobs, Australian interest rates and the health of global manufacturing will all be reviewed this week. That will be after start of the month global manufacturing surveys were issued yesterday and last night and showed the activity remains solid.
|Japan's Business Mood Hits Decade-High|
Added On - 10/3/2017 7:54:51 AM
The September quarter's Tankan survey from the Bank of Japan revealed decade high levels of confidence.
|Pressure Eases On Iron Ore|
Added On - 10/3/2017 7:54:29 AM
Pressure on iron or prices should ease for much of this week with China on Holiday until next weekend. Prices in the first week of October and the December quarter won't move very much because of the long break.
|Oil Bounces Back In Third Quarter|
Added On - 10/3/2017 7:50:45 AM
Oil prices had their best quarter this year in the three months to September, while gold eked out a small rise, despite a negative performance for the week.
|China PMI Hits 52.4, Highest Since 2012|
Added On - 10/3/2017 7:50:30 AM
China has headed off into its week-long National Day/mid-Autumn festival, but before it vanished we learned that big Chinese manufacturing companies are humming along at their fastest rate in five years, but smaller companies may be seeing a bit of an easing in activity.
|US Dollar Index Weaker As Euro Strengthens|
Added On - 10/3/2017 7:49:50 AM
Despite its biggest weekly gain since February last week, the US dollar index declined for the third straight quarter in the three months to September - its longest quarterly losing streak since the financial crisis a decade ago.
|How Markets Performed In The Quarter|
Added On - 10/3/2017 7:48:10 AM
Global share markets pushed higher over the last week of the third quarter as solid economic data and renewed talk of US tax reform more than offset continuing worries about North Korea and Brexit.
|Gordon Grabs Seven Stake In Prime|
Added On - 9/29/2017 7:46:22 AM
Are we about to see our first deal from the changes to media laws? Would be Ten bidder and Nine shareholder, Bruce Gordon, has grabbed a stake in the Seven Network's regional affiliate partner Prime Media Group for $15.6 million.
|Job Vacancies Hit Record Levels|
Added On - 9/29/2017 7:45:59 AM
We saw further evidence yesterday that the strength of the jobs market is not a flash in the pan, as some sceptics seem to think.
|Beach Energy Buys Origin Subsidiary|
Added On - 9/29/2017 7:44:21 AM
The Kerry Stokes-dominated Beach Energy will double in size after it buys the Origin Energy subsidiary Lattice Energy for $1.585 billion.
|A2, Synlait Win China Milk Approval|
Added On - 9/29/2017 7:44:13 AM
Shares of NZ milk processors Synlait Milk and A2 Milk rose to a record highs yesterday following the news that Synlait and its partner a2 Milk had gained registration in China.
|RBNZ Firmly On Hold|
Added On - 9/28/2017 7:49:46 AM
The Reserve Bank of NZ has joined the RBA in ignoring clamour from some silly market economists and media columnists for a rate rise.
|Hurricane Pressure Builds On QBE|
Added On - 9/28/2017 7:45:42 AM
QBE Insurance shares hit a series of near 11-month lows yesterday on fears that the spate of hurricanes in the US will hurt the insurer.
|Odds Lengthen On Tatts, Tabcorp Deal|
Added On - 9/28/2017 7:45:29 AM
The creation of TabTatts is looking more and ore unlikely - at least based on the terms announced on October 18 last year.
|AGL Resists Political Pressure|
Added On - 9/28/2017 7:44:31 AM
Bullying the management of AGL Energy by Prime Minister Turnbull and his government has blown up in his face with yesterday's annual meeting in Sydney being told AGL has no intention of changing course.
|Myer Jumps As Solomon Lew Seeks Share Register|
Added On - 9/28/2017 7:43:59 AM
Oh the silly day traders. As Premier Investment shares languished around $12.45 and down more 3% for the day, out came a statement from the company at 1.42pm requesting Myer's full shareholder register.
|Lew Lays Into Myer|
Added On - 9/27/2017 8:24:11 AM
The one thing you can say with certainty about Solomon Lew is that if he is losing money on a deal, or perceives someone else is getting an advantage not available to him, he will complain to the sympathetic ears in the business media.
|Kathmandu Rises Above Retail Malaise|
Added On - 9/27/2017 8:23:57 AM
NZ-based outdoor wear retailer, Kathmandu has shown up the likes of Premier Investments, Speciality Fashion and Myer in lifting earnings and sales (especially comparable or same store sales in Australia) in the year to July.
|Nufarm Sees Sharp Rise In Profit|
Added On - 9/27/2017 8:23:51 AM
Crop protection group Nufarm sees more earnings growth in the coming year for the company after posting a 316% jump in net profit to $114.5 million for 2016-17.
|Dates Clash For Vote On Tabcorp, Tatts Deal|
Added On - 9/27/2017 8:23:44 AM
The creation of TabTatts will take a little longer to sort out.
|Brent Hits Highest Level Since July 2015|
Added On - 9/26/2017 7:55:19 AM
Oil jumped - Brent crude futures hitting two year plus highs - and gold jumped sharply in trading on Monday - and Wall Street sold off as Apple shares weakened for yet another session.