China Steel Production Weakening Into Year-End
Australian monthly crude steel output for November was solid, but with more concern about the emerging weakness as production volumes slow.
Read MoreAustralian monthly crude steel output for November was solid, but with more concern about the emerging weakness as production volumes slow.
Read MoreChina has formally blocked Australia’s multi-billion dollar coal trade after months of unofficial restrictions and contrived barriers were formalised into an outright ban by the country’s economic cabinet.
Read MoreWalt Disney shares might have recovered from their coronavirus slump and hit a succession of record highs last week, but that hasn’t stopped the company looking like a bunch of dills for making the Murdoch family richer than they should be, for no reason other than corporate ego and ambition.
Read MoreGrowth in China’s new home prices grew fell to their slowest monthly pace in November since March of this year. The slowing supports the idea that Chinese regulators have succeeded in containing a break out in property prices for the time being.
Read MoreIOOF’s $1.4 billion acquisition of MLC Wealth Management from the National Australia Bank will go ahead after the competition watchdog cleared the deal on Monday.
Read MoreVehicle dealer, Eagers Automotive is continuing to break up and sell off assets unwanted from the takeover last year of rival Automotive Holdings (AHG).
Read MoreJust over two weeks of a very eventful 2020 to go and still no slowing in the flow of influential news and data points. The impact of the COVID-19 pandemic has made even the most routine of figures important – such as inflation, or jobs openings, while corporate results and future projections remain opaque.
Read MoreAn update to the outlook for the Australian economy is due this week in the Federal Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) which is due for release in the next few days.
Read MoreThe iron ore price so far in December is up 21.65% and looks very much in a boom and that will, if past history is any guide, end in tears and a big slide. The sharp rise in prices has triggered a moan from China’s steel industry.
Read MoreWith a month to go, China’s vehicle sales are on track to hit 25.3 million units this year as sales of electric vehicles in particular rise sharply.
Read MoreThe S&P 500 and Nasdaq ended lower on Friday, while the Dow closed up slightly. All three indexes fell for the week. Eurozone shares fell 1.3%, Japanese shares lost 0.4% and Chinese shares fell 3.5%, despite more evidence that the economy is going well with a record trade surplus last month and exports. Despite this, Australian shares rose for the sixth week in a row, albeit it was only a small gain of 0.1%.
Read MoreOil prices fell on Friday, as traders focused on demand worries due to new coronavirus-related restrictions on business in New York and the continuing escalation in infection numbers and deaths. Meanwhile, gold prices rose Friday to end higher for the week as a firmer US dollar had little impact.
Read MoreANZ Bank and National Bank hold their annual meetings this week and should have an easier ride than Westpac did on Friday. Westpac pledged at the meeting that shareholders will see a return to normal dividend payments in 2021 following a tumultuous year that has swiped the bank’s profits by 66%.
Read MoreThe ASX will be hit not only by uncertain trading on Wall Street overnight but by the news that CSL and Queensland University had abandoned their attempts to create a COVID-19 vaccine.
Read MoreGlobal iron ore prices surged to new multi-year highs well above $US150 a tonne on Thursday after a tropical low in the Indian Ocean triggered moves to clear Port Hedland of vessels and send them to sea.
Read MoreNo, Australian interest rates are not going to follow yields in some markets offshore (Japan and Germany for example) into negative territory despite part of a $1.5 billion short term Treasury note issue being sold for the first time at a negative yield.
Read MoreWhile Link rejects bids left right and centre, another takeover situation might be resolved far more quickly – the mop up all cash offer for Asaleo Care’ from its 36% shareholder, Essity Aktiebolag.
Read MoreLink Group has rejected a third takeover offer for its business in less than two months, telling the market the latest offer from US financial services group, SS&C Technologies Holdings did not represent compelling value for shareholders.
Read MoreSolid online sales continue to help jewellery retailer Michael Hill to survive the continuing vicissitudes of the coronavirus pandemic here and offshore.
Read MoreLegislation in the Australian parliament that might get Facebook and Google to pay some small amounts to local media companies has been overtaken in importance for the social media giants, especially Facebook, by news of a massive anti-trust lawsuit filed in an American court late Wednesday.
Read MoreThe S&P 500 and the Dow scaled record highs on Wednesday as hopes of a working COVID-19 vaccine and fresh economic stimulus before the end of the year lifted demand for economically sensitive energy and financial shares.
Read MoreAnother surge in iron ore prices Wednesday saw new multi-year highs reached. Global iron ore prices topped $US150 a tonne for 62% Fe fines for the first time in nearly 8 years on Wednesday, while the price of 65% high-grade ore went well over $US162 a tonne.
Read MoreFor the first time in years, China’s CPI and PPI fell in the same month – there’s no concern, yet, but be wary if we have a repeat this month.
Read MoreThe Commonwealth Bank says it will receive $886 million for the sale of its equity interest in the BoCommLife Insurance Company after the divestment got the go-ahead from Chinese regulators.
Read MorePrivate healthcare group Healius has done what it was expected to do after selling off its GP business and revealed plans for a large share buyback.
Read MoreAustralian Super’s stalking of New Zealand energy infrastructure group Infratil Ltd continued with second cash and shares offer yesterday that the Kiwi company knocked back as being too cheap.
Read MoreThe ASX 200 is heading for a solid 20 point gain at the opening as investors on Wall Street focused again on the megatechs and companies that did well in the COVID pandemic and lockdowns earlier in the year.
Read MoreAnother rise in iron ore prices Tuesday saw the price of 62% Fe fines reach closer to $US150 a tonne as data emerged showing a second big slump in Australian exports to China this year in November.
Read MoreWhen Woodside Petroleum CEO Peter Coleman was named to the job in May 2011, the price of US West Texas Intermediate crude (one of the two global marker crudes) was a smidge over $US100 a barrel and the Woodside share price was around $45.
Read MoreAre we reaching endgame for the off/on battle for control of Link Group with a third suitor emerging? Investors bid the shares up more than 14% to $5.66 yesterday after American financial services group, SS&C Holding revealed an indicative $3 billion indicative bid for the superannuation fund administrator Link. The shares closed up nearly 14% at $5.64.
Read MoreShares in fabric, linens, and millinery and homewares group Adairs jumped more than 5% at one stage yesterday after the group produced another update to its performance.
Read MoreBusiness conditions and confidence rose strongly in November and are now back above pre-pandemic levels according to the National Australia Bank’s latest monthly business survey.
Read MoreThe surging toll of COVID-19 infections and deaths across the US finally forced Wall Street investors to revert to 2020 form on Monday and push back into megatechs and other shares seen as winners under stay at home rules and social distancing.
Read MoreChina’s imports of key (and sensitive) commodities were again at solid levels in November, though iron ore and copper fell from October levels, they were still higher than a year ago.
Read MoreChina’s exports surged in November, trade surplus hit a record high while imports again showed little growth.
Read MoreFinally, it’s over – the drawn-out Village Roadshow takeover saga – suitable for screening in one of the company’s cinemas has moved into the final phase – ratification by the courts.
Read MoreGlobal iron ore prices rose again on Monday, hitting new multi-year highs, despite another fall in import volumes into China in November.
Read MoreInvestors in online retailer, Kogan ignored an embarrassing $350,000 penalty from the Federal Court on Monday and pushed up the share price by 3.8% to $18.04.
Read MoreThe country’s third retail force, Metcash has given shareholders a nice pre-Christmas reward with a 33% lift in interim payout after the supermarket, liquor and hardware group revealed one of its strongest-ever half-yearly results, with the company’s underlying earnings surging 43% in the six months to October 31.
Read MoreThe retail boom is still happening as official figures confirm the updates from retailers large and small in the past few months. Confirmation of the continuing boom came last Friday that Australian retail turnover rose a solid, seasonally adjusted 1.4% in October with the re-opening of Victoria playing the major part in continuing the strong pace of consumption reported in the September quarter GDP report last week.
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