Retail Sales Blow Away Expectations
A bad miss by economists and analysts who completely underestimated the solid 0.8% rise in retail sales in February. It was the highest monthly rise since November 2017 when a rise of 1.3% was reported.
Read MoreA bad miss by economists and analysts who completely underestimated the solid 0.8% rise in retail sales in February. It was the highest monthly rise since November 2017 when a rise of 1.3% was reported.
Read MoreThe argument over control of accounting software group, MYOB Group is all over, including the shouting.
Read MoreAs Scott Morrison and Josh Frydenberg were banking the 22% plus surge in global iron ore prices so far this year in last night’s Federal budget, it seems the shortfall in exports will be much larger than thought last week because of the growing impact of Cyclone Veronica on the Pilbara at the end of March.
Read MoreWe had another reminder yesterday why the monthly building approvals data from the Australian Bureau of Statistics are an unreliable indicator (and should not be taken all that seriously at times) of the strength or weakness in tracking what is going on at the front end of the home and apartment building chains.
Read MoreFertiliser and explosives group, Incitec Pivot (IPL) has warned of another $33 million hit to earnings from the drought the decision to close a phosphate factory in western Victoria.
Read MoreFortescue Metal Group shares ended up 3% at $7.65 after announcing the $US2.6 billion ($A3.7 billion) second stage of its Iron Bridge project in the Pilbara has been approved.
Read MoreThe surge in commodity prices and our highest terms of trade since 2011, plus the still solid labour market have financed a return to surplus via higher taxes, but the reality is that the outlook for the economy remains mixed to lacklustre.
Read MoreRio Tinto is facing the loss of up to 14 million tonnes of iron ore exports – worth around $US1.2 billion or $A1.7 billion in lost revenue – in 2019 from the combination of a fire at its Cape Lambert export port in January that was compounded by the impact of Cyclone Veronica late last month.
Read MoreSo did we see signs the current slide in house prices might be losing momentum in March? There was a tiny suggestion that February saw hints of a slowing in the rate of fall, but it would see the signs were a little more solid last month.
Read MoreA bit of sweet to smooth out the sour at Woolworths with the turnaround at Big W stalling and an off-market buyback which will result in a significant release of franking credits.
Read MoreOn the eve of the 2019-20 federal Budget, the National Australia Bank’s March survey of business conditions and confidence has picked up a small improvement in conditions.
Read MoreIn Australia this week will be all about iron ore prices, interest rates, a federal budget and the timing of the May federal election plus the usual start of month economic data.
Read MoreAustralian shares are looking to start trading in a new week, month and quarter today with a modest gain of around 18 points after Wall Street capped the first three months of the year with gains on Friday.
Read MoreThe S&P 500 index has seen its strongest start to a year since 1998 with a first-quarter gain of 13.1%.
Read MoreFor Australia, the coming week is all about interest rates, the federal budget and the timing of the election (see separate story), but offshore it’s all about the health of the US and global economies.
Read MoreCopper, zinc and nickel prices also ended the quarter in reasonable shape, while palladium continues to outperform other metals.
Read MoreOil prices notched up their best quarterly performance in almost a decade in the three months to March 31 with US crude topping $US60 a barrel for the first time in nearly five months on Friday.
Read MoreWorld iron ore prices are poised to make a run back over $US90 a tonne after more doubt was cast on the level of Vale’s 2019 production while Rio Tinto has declared force majeure on some exports.
Read MoreAustralian bond yields have hit new all-time lows as the global charge into high rated fixed interest securities continued for another day, led by investors fearful of slowing global and Australian economies.
Read MoreAnother small hint that the strength of the labour market might be fading, even though job vacancies hit another all-time high in the three months to February.
Read MoreAir New Zealand will defer or cut around $NZ800 million from its cost base and new aircraft budgets as it tries to accommodate itself to a slower and lower future.
Read MorePact Group, whose shares have plunged 49% in the past year and a third since early February, has found a new CEO, hopefully, to lead the Melbourne based company out of the wilderness.
Read MoreThe amazing sharemarket adventures of Eclipx continued yesterday. After losing more than 60% of their value last week after a weak trading update, the suspension of its dividends and calling off a marriage with rival McMillan Shakespeare, the shares lost another 12% at the start of the week but reversed yesterday to end up 22.8% at 70 cents.
Read MoreHas Wesfarmers been ’saved’ from an unfortunate and possibly expensive diversification and a waste of cash in its $1.5 billion eyeing of troubled rare earths miner, Lynas Corp?
Read MoreThe Reserve Bank of NZ has shifted ground in its monetary policy stance dramatically, sending a strong tip that the next move in rates will be down.
Read MorePromises of prudence by Wesfarmers management on future expansion plans have been thrown into question with the company revealing a surprise $1.5 billion offer for troubled rare earths miner Lynas.
Read MoreNZ based outdoor wear retailer, Kathmandu lifted first-half profit nearly 14% to $NZ13.95 million ($A13.55 million) despite weak sales over the Christmas period.
Read MoreTalk about a convoluted deal – to get its controversial Goldcorp takeover over the line, Newmont Mining is promising to use some of the future ’synergies’ from its separate deal with rival Barrick to encourage its own shareholders to greenlight the deal.
Read MoreJust why the big fall yesterday came as a surprise to some in the market and the business media is a surprise.
Read MoreFor small WA mining group, Mincor Resources the resurgence in demand for nickel from the renewables (especially electric cars and storage) couldn’t have come at a more opportune time.
Read MoreWhile Westpac was revealing more remediation costs for its customers, the NAB was cutting one of the more controversial fees financial groups pay – so-called introducer fees.
Read MoreWestpac has leaked some more red ink out into the market warning that H1 profit will take a $260 million hit from refunding customers in its financial advice, consumer and business banking arms.
Read MoreSharemarkets slumped on Friday as bond yields fell sharply to multi-year lows on fears the slowing pace of growth around the world could stall and produce a recession later this year or in early 2020.
Read MoreStockmarkets in Asia, led by Australia will be sold off heavily this morning after a widespread slide in Europe and the US on Friday night off the back of weak factory activity reports which helped produce a sharp fall in official bond yields.
Read MoreGenerally a quiet week ahead for markets except for continuing confusion about just what is happening with Brexit.
Read MoreVale has warned that another dam could collapse at any moment while local iron ore miners brace for Cyclone Veronica which made landfall around Port Hedland on Sunday.
Read MoreOil futures prices fell on Friday on concerns about global economic demand and a sharp fall in global interest rates, but US prices managed a small a gain for the week, the third in a row.
Read MoreGold settled higher Friday, overcoming strength in the US dollar as investors sought the safety of bonds as they reacted to fresh fears about global and US growth.
Read MoreTropical Cyclone Veronica, a Category 4 storm, is heading for the Western Australian iron ore export ports in the Pilbara, especially Port Headland, and the LNG export gas hub at Karratha.
Read MoreNavitas directors yesterday accepted a higher $2.3 billion takeover bid from local private equity group BGH Consortium.
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