Seek Drops Dividend In Favour Of “Flexibility”
Online jobs group, Seek has made the early decision to drop its final dividend for the 2019-20 financial year to allow it to build up its financial reserves for the coming financial year.
Read MoreOnline jobs group, Seek has made the early decision to drop its final dividend for the 2019-20 financial year to allow it to build up its financial reserves for the coming financial year.
Read MoreConfirmation from the two surveys of Chinese manufacturing that the country’s economic rebound is strengthening. Yesterday the private survey from Caixin/Market showed China’s factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve.
Read MoreLow tech, no tech, old investment ideas, but the Warren Buffett critics have ignored Berkshire’s holding in Apple, especially earlier this year in March – June period as markets wallowed and then started rebounding – led by Apple.
Read MoreGold prices again charged higher on Friday, closing within sight of the $US2,000 a level after losing ground on Thursday for the first time in 10 sessions. Meanwhile, oil prices ignored the end of the 9.7 million barrels a day OPEC + (with Russia) oil production cut on Friday and headed higher on Friday.
Read MoreWarren Buffett still likes America’s banks. His Berkshire Hathaway company is due to report its second-quarter earnings next weekend but they have been made largely irrelevant by the continuing surge in Apple shares and a 10 day, $US1.7 billion buying spree in Bank of America stock in the closing weeks of July.
Read MoreThe already weaker greenback looks set to wobble even more after Fitch Ratings revised the outlook on the United States’ triple-A rating to negative from stable. Fitch’s decision comes at the end of a month where the US$ dropped by around 4.1% against a basket of six major currencies.
Read MoreThe pace of the Australian June 30 reporting season accelerates slightly this week. Among the handful of companies due to report including Resmed (Thursday), Insurance Australia Group (loss), News Corp (loss) and REA (Friday, a smaller profit).
Read MoreIn the US it will be the second busiest week of June 30 reporting season lies ahead of us with more than 1,600 stocks due to release quarterly earnings data, with around 80 in the S&P 500.
Read MoreThe fourth up month in a row for Wall Street, but the start to August today will be less than confident after Fitch put America’s AAA rating on a negative outlook, COVID-19 cases continue rising (and deaths) and President Donald Trump maintained his attacks on the US voting system ahead of the November 3 polls.
Read MoreThe June 30 earnings season steps up in Australia, peaks in the US, and continues in Japan, China, Europe, and the UK with those fears about the strength of earnings front and centre, despite the high results from US tech giants last Friday.
Read MoreAs gold heads towards $US2,000 an ounce, it’s worth asking if gold is becoming a hostage of the Exchange Traded Funds (ETFs) that specialise in investing in the metal?
Read MoreEarly futures trading shows Nasdaq will open tonight on Wall Street up more than 2% as the big four tech giants, Apple, Amazon, Alphabet (Google) and Facebook reported solid or spectacularly good June quarter results.
Read MoreWall Street looks like rebounding from Thursday’s slide on Friday after Apple, Amazon, and Facebook produced better than expected quarterly results after the session. The S&P 500 and Dow closed lower on Thursday but Nasdaq ended in the green in anticipation of good reports from the tech giants.
Read MoreThe US economy saw its largest fall ever in economic activity in the three months to June, falling a record 9.5% from the March quarter, for an annual slump of 32.9% (also a record), according to the first estimate of June quarter’s GDP issued on Thursday.
Read MoreWhile Fortescue Metals will report another huge year in terms of revenue and profits next month for the year to June, that could be the peak.
Read MoreGenworth Mortgage Insurance Australia has posted a statutory loss of $90 million for the six months to June 30, as it was hit by a write-down and an increase in reserves in anticipation of rising bad loans.
Read MoreDwelling investment is well on the way to the forecast fall of 16% in the next year after another fall in approvals in June.
Read MoreMacquarie Group says the outlook remains highly uncertain, with profits dipping slightly in the first quarter as its businesses face challenges from rising bad debts and a softer market for selling assets.
Read MoreMarkets ended in the green on Wall Street after the US Federal Reserve did what was expected of it and kept its expansive monetary policy stance unchanged and promised to do what it had to keep the economy afloat.
Read MoreCommodities rose Wednesday, led by gold, oil, and iron ore as the Fed kept US monetary policy on track and markets ignored the continued rise in COVID-19 cases and deaths in the US and globally.
Read MoreSpanish-controlled CIMIC Group (the former Leighton Holdings) has revealed it is on the verge of selling a 50% stake in its Thiess contracting business to the aggressive UK/US hedge fund, Elliott Advisors for an as yet unrevealed amount.
Read MoreThe market took a profit warning from AP Eagers yesterday in its stride, sending the shares in the country’s biggest listed car dealer up by more than 11%. The company’s annual meeting was told that underlying profit for the June half of the calendar financial year will fall 23.6% to $40.3 million as the COVID-19 pandemic hammered car sales lower.
Read MoreConsumer prices fell by 1.9% in the June quarter, a bit better than the market forecast for a 2.5% slump in the June quarter but still the single largest three-month fall in 72 years, thanks to the impact of the COVID-19 pandemic and lockdowns.
Read MoreRio Tinto has lifted its mid-year dividend payout despite a 20% fall in net profit with the company now more hostage to iron ore than at any other time in its history.
Read MoreAPRA has eased restrictions around paying dividends in time for the June 30 and September 30 reporting season but told the banks and insurers they should seek “to retain at least half their earnings” when considering payouts.
Read MoreThe rebound in the Australian jobs market is faltering thanks to the worsening COVID-19 situation in Victoria, according to the latest monthly update on payroll and wages data produced by the Australian Bureau of Statistics.
Read MoreFor a third session, gold stood out with another record-setting surge closer to the once impossible to believe $US2,000 an ounce level.
Read MoreCredit Corp shares bounced more than 11% yesterday after it confirmed its trading update two weeks ago. The shares ended up 8.7% at $18.39, losing ground in afternoon trading as investors noted the company confirming 2020-21 would be weaker than the June 30 underlying result.
Read MoreOnline homewares and furniture retailer Temple & Webster has confirmed its earlier update of a sharp jump in earnings for the year to June, with more to come.
Read MoreSmall diversified manufacturer, GUD Holdings has more than halved its final payout to shareholders as earnings slumped for the year to June. The maker of Ryco oil filters and air filters, Goss fuel pumps and hoses, and Wesfil and Narva parts said revenue edged up 1% to $438 million “despite second half COVID‐19 volume impacts”.
Read MoreRio Tinto has finally given investors an idea of the size and grade of its huge Winu copper-gold deposit in WA’s Eastern Pilbara and reckons it can get a mine underway by 2023.
Read MoreAlready on the hook for more than 23 million transactions, Westpac says it has found an extra half-million or more suspicious transactions that may have breached AUSTRAC money laundering rules.
Read MoreFor a variety of reasons, gold hit a series of highs on Monday across trading in Asia, Europe, and the US where it settled at an all-time record level. While Wall Street ended in the green on Monday, gold held centre stage.
Read MoreAustralian Foundation Investment Co is dipping into reserves to pay an unchanged final dividend for the year to June 30 after a big fall in profit.
Read MorePerpetual has confirmed that it is moving to buy a US fund manager in a $465 million deal, and is raising new capital from local shareholders to do so.
Read MoreCOVID-19 and the crash in global oil and gas prices have helped at least one local energy company. Karoon Energy shares jumped sharply yesterday after it revealed better terms to buy a Brazilian oil field than those originally announced.
Read MoreSupermarket and hardware supplier and retailer, Metcash has signed a binding agreement to acquire 70% of Total Tools Holdings Pty Limited (Total Tools), for $57 million.
Read MoreGold is poised to crack the $US1,900 an ounce level this week for the first time in almost 9 years. That was after Comex futures posted another record settlement on Friday, along with the strongest weekly performance since early April.
Read MoreThe COVID-19 pandemic has allowed more than 80% of the companies reporting so far to beat earnings-per-share estimates, according to US analysts at JPMorgan Chase, which compares with the 65% companies that topped expectations in the first quarter.
Read MoreJune 30 earnings reports step up this week with the most-watched will be the half-year figures from Rio Tinto late in the week. Australian Foundation Investment Co provide annual figures today, GUD later in the week, as well as Credit Corp, Janus Henderson, Cimic, Genworth Mortgage Insurance, and UR Westfield.
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