A$ Gold Price Breaks New Ground
World gold prices continue to run higher yesterday and last night – topping the $A2,070 an ounce level after another round of solid gains. That’s the highest ever level for the Aussie dollar price of gold.
Read MoreWorld gold prices continue to run higher yesterday and last night – topping the $A2,070 an ounce level after another round of solid gains. That’s the highest ever level for the Aussie dollar price of gold.
Read MoreHere’s crunch time for the hold out minorities in Spotless Group who have refused to sell their shares despite Downer EDI grabbing nearly 88% of Spotless in mid-2017.
Read MoreMetcash shares suffered more losses yesterday after several broker downgrades on the back of the weak full-year results on Monday.
Read MoreJudging by the full year results for Collins Food, the fast food sector seems to be a small spot of light – food delivery that is.
Read MoreTroubled wealth group IOOF obviously found it impossible to recruit a new CEO externally (as did rival AMP) so it has settled for the stand in bloke to take up the gig permanently.
Read MoreWestpac is having a second go in a few months in overhauling the way it calculates executive pay.
Read MoreA busy day yesterday for retirement village operator Aveo Group, with the group warning underlying profits will fall to $50 million cutting its annual distribution to unitholders in half and revealing that it has received a possible takeover offer from an unnamed party, believed to be Canadian investor, Brookfield, or US group, Blackstone.
Read MoreThe proposed $2.3 billion takeover by AP Eagers (APE) for Automotive Holdings (AHG) – the country’s two biggest car dealers – is in trouble with the competition regulator, the ACCC.
Read MoreThe retail malaise hit Metcash, the supermarkets, liquor and hardware retail group in the 2018-19 financial year.
Read MoreOopps. Shares in Hong Kong’s CLP Holdings had their biggest fall in over a decade on Friday after the power company warned it would book a first-half loss due to a massive write-down on the value of its Australian business.
Read MoreWall Street took a rest Friday after the sharp rise after rallying on the back of the move by the US Federal Reserve to a more defined rate cut looms stance.
Read MoreThanks to the US Fed and rising tensions in the Middle East over oil ships, Comex gold futures have reached the $US1,400 an ounce level for the first time in nearly six years.
Read MoreLike gold, oil had a very strong week – thanks to the rising tensions between Iran and the US.
Read MoreOur market is heading for a weak start later this morning after a stuttering end to what was a solid week on Friday. The ASX 200 Index rose 96.8 points to 6,650.8 last week, while the All Ords added 100.7 points, or 1.5%, to close the week at 6,734.3.
Read MoreAnother record-breaking week for iron ore prices as they hit and passed through a succession of five year plus highs last week.
Read MoreIn Australia, it’s the run-up to the end of the financial year next Sunday, June 30, and stock market trading on Friday, June 28, that will dominate markets. Offshore it will be the Group of 20 leaders meeting in Japan.
Read MoreCaltex shares copped a hiding yesterday after it shocked the market by revealing that its expected June half earnings had been battered by the surge in oil prices and the plunge in the value of the Aussie dollar and that earnings would more than halve overall.
Read MoreOperational problems are the direct concern of management and following two fires and now this mining stuff up at Brockman Hub, some analysts are wondering if the real story is Rio pushing too hard in the Pilbara.
Read MoreGold surged to an all-time Australian dollar high of more than $A2,000 yesterday as the price exploded in electronic trading in the wake of the Fed’s more obvious tilt towards a wait and sit stance on the next rate move, which is now almost certainly will be a cut.
Read MoreReserve Bank Governor Philip Lowe has made it clear he wants the federal and state governments to help monetary policy lift the Australian economy, wages and keep employment buoyant.
Read MoreThe clean out of executives at the Bank of Queensland has started in the wake of the appointment of a new CEO in the shape of former senior Westpac executive, George Frazis as CEO.
Read MoreMining problems at its huge operation in the Pilbara means Rio Tinto will not get the full benefit of the surge in iron ore prices which rose to yet another five year high Wednesday of $US114.08 a tonne.
Read MoreIt wasn’t quite what financial markets had wanted from the Fed – a sort of watch and wait stance with a more obvious bias towards a rate cut, but no rate cut or hint of any timing. Markets wanted more definite news on the timing of a rate cut.
Read MoreProperty group GPT is raising up to $850 million in a placement and share purchase plan for retail holders to help it lift its stake in the Darling Park and Cockle Bay Wharf complex in Sydney’s western CBD.
Read MoreSo if investors are the most pessimistic since the GFC more than a decade ago according to the latest BAML survey of global fund managers, why are some key stockmarkets close to all-time highs?
Read MoreUS Steel has joined Australia’s BlueScope Steel in downgrading earnings amid weakening steel prices in America and around the world.
Read MoreBlueScope Steel’s forthcoming 2018-19 results have been given a small whacking by the combination of Donald Trump’s steel trade/tariff war causing global steel prices to soften and the rise in global iron ore prices.
Read MoreColes shares hit an all-time high of $13.69 yesterday after the company revealed its new strategy, the highlight of which was of course cost cuts – $1 billion by 2023.
Read MoreThe Australian dollar fell sharply yesterday to levels not seen since the dying months of the GFC in 2009 after the Reserve Bank’s June board meeting minutes made it clear there would be more rate cuts to come.
Read MoreAfterpay Touch shares fell another 6% yesterday as investor disquiet saw another round of selling with more than 4.5 million shares traded.
Read MoreANZ Bank’s New Zealand woes continue with it’s country head, David Hisco leaving the bank amid claims of expenses irregularities.
Read MoreMcMillan Shakespeare (MMS) fell more than 7% at one stage yesterday after it became the latest company to downgrade earnings.
Read MoreIs telco Vocus so damaged financially that it is unsaleable? According to investors, the answer is yes with the shares well and truly thumped.
Read MoreChina’s industrial output growth continues to slow hitting a 17-year low in May, while investment also weakened last month, as did the pace of activity in real estate.
Read MoreIs the current iron ore price boom moving closer to the edge and a slide?
Read MoreIt’s another big week for central banks this week – the Fed in the US, the Bank of England, the Bank of Japan all meet and release monetary policy decisions while the minutes of the June board meeting of the Reserve Bank – where the latest rate cut was made – will be out tomorrow.
Read MoreSo now for a Fed focus week on Wall Street.
Read MoreAustralian shares rose 1.7% last week and made it to an 11-year-high led by resources stocks and defensive sectors like healthcare, telcos, and consumer staples.
Read MoreA day after an attack on two tankers in the Gulf of Oman prompted a rally in oil prices, reality hovered in the background in the shape of yet another downgrade in the global demand projections for 2019.
Read MoreIron ore prices have topped $110 a tonne for 62% Fe ore delivered to Northern China as BHP, Fortescue and Rio ship as much product as possible to China to make up for the shortfall from Vale and to exploit the high prices.
Read More