Diary: RBA Rates Call, US Jobs, Asia Manufacturing
It’s back to the future, for yet another month this week with the US jobs report out on Friday night. Economists think it will be another solid month.
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How Might Markets Fare The Rest Of The Year?
Looking ahead and markets though will have to grapple with the instability that will come from the final month of campaigning for the US mid-term polls on the first Tuesday in November, the continuing fractiousness in Britain of the Brexit process and whether there could be a snap general election, while rising oil and petrol prices will be a concern in the US, Australia, and other economies.
Read MoreBest & Worst Performing Shares In September
Australian shares closed the quarter on a high note this week, as the banks rallied on the release of the Hayne Royal Commission’s report.
Read MoreASX Sheds 1.7% In September
The ASX 200 seriously underperformed, rising 0.2% in the quarter (and the week) and losing more than 1.7% for the month of September.
Read MoreExpect More Of The Same From The RBA
Another record will be set later today when the Reserve Bank holds interest rates at their current level for the 36th month in a row.
Read MoreRio Tinto Banks $4.8bn Grasberg Copper Mine Exit
Well, that’s it for capital management deals helping shareholders in Rio after the miner finally sold its stake in the huge Grasberg copper mine and will keep the money for itself.
Read MoreWestpac Flags Surprise Earnings Hit
Three days before the end of its 2017-18 financial year, Westpac has flagged a $235 million cut in full-year cash earnings.
Read MoreRinehart Sweetens Bid For Atlas Iron
So will Andrew ’Twiggy” Forrest blink and accept the takeover bid for his shares in Atlas Iron from rival Perth iron ore billionaire, Gina Rinehart, or will he play hardball and remain a locked in investor?
Read MoreJob Vacancies Hit Record High In August
Job vacancies in Australia hit another all-time high in the August quarter as the jobs boom continues, thanks to the accelerating surge in private sector openings.
Read MoreBeach Energy Rides A Crude Wave
Beach Energy joined larger rival Santos in revealing ambitious plans to boost production, sales, and earnings over the next few years at a time when global oil prices are at their highest levels since late 2014 when the great oil slide was gathering pace.
Read MoreRBNZ Echoes RBA With Rates On Hold Until 2020
Unlike the US, but very much like the Australian economy, New Zealand’s economy is growing solidly, and yet doesn’t need any extra stimulation from a rate cut, but doesn’t need a slight hand on the tiller from a rate rise.
Read MoreDrought Drags Nufarm Into The Red
The 2017-18 Nufarm result explains why the company has rushed out a surprise rights issue.
Read MoreResurgent Santos Doubles Down On Growth Targets
Santos shares are up more than 33% this year, topping the 28% advance in the price of Brent crude futures – the key global oil price.
Read MoreInside The Fed Interest Rate Decision
As expected the US Fed has lifted short-term interest rates for a third time this year and indicated there will be more to come this year and in 2019 and 2020.
Read MoreNufarm Seeks Drought Relief From Shareholders
Nufarm is looking to raise $303 million from shareholders after its debt doubled in the latest financial year thanks to the cost of acquisitions and ballooning working capital needs because of the worsening drought in eastern Australia.
Read MoreEnergy Stocks Run As Oil Nears Four-Hear High
The share prices of major ASX listed oil groups continue to hit multi-year highs as global oil prices touch levels not seen since late 2014.
Read MoreKiwi Court Rejects Final Fairfax Merger Attempt
The New Zealand Court of Appeal has rejected the final attempt from Fairfax to merge with its Kiwi print and radio rival, NZME.
Read MoreRag Trader Gazal Confirms Sale Speculation
Shares in Sydney clothing distributor and maker, Gazal Corporation jumped more than 13% yesterday to record levels after it confirmed media reports that it was talking to US group, PVH Corp and a major shareholder about being privatised.
Read MoreBoard Renewal At Troubled Retail Food Group
A cleanout on the board of besieged fast-food franchisor Retail Food Group as its chairman resigned and the company found two new directors.
Read MoreOil Rises Near 2-Month High As OPEC Rebuffs Trump
Global oil prices were rising last night after Saudi Arabia and Russia ruled out any immediate boost to crude output, effectively rebuffing President Donald Trump’s calls for action to cool the market.
Read MoreRandgold & Barrick In $18bn Gold Mining Merger
The world’s largest gold miner valued at more than $US18 billion will result from a merger between Canada’s Barrick Gold Corp and African based miner Randgold Resources Ltd.
Read MoreSims Metal Shares Scrapped On Weak Q1
Shares in scrap metal processor, Sims Metal fell 12% at one stage yesterday after it warned that first-quarter earnings would be a bit light on.
Read MoreWeak Zinc Takes Shine Off Nyrstar
One of Australia’s biggest minerals processors is facing tough times and a profit warning late last week last saw the price of the Belgium-based Nyrstar plunge 36% to record lows.
Read MoreComcast Beats Out Fox In Battle For Sky
US pay TV and movie giant, Comcast has ended Rupert Murdoch family’s involvement with European broadcasting by outbidding 21st Century Fox and its ally, Disney for the UK-based euro satellite TV group Sky in a deal valued at more than $A50 billion
Read MoreOil Edges Higher As OPEC Meets In Algiers
Global oil prices settled higher Friday as prices bounced around ahead of a meeting of major oil producers in Algiers over the weekend.
Read MoreCopper Surges In Biggest One-Day Gain Since 2013
Industrial metal prices soared on Friday, led by copper which had its best day for five years as trade war fears eased.
Read MoreUS Markets Hit New High Ahead Of S&P Reshuffle
Tonight the S&P 500 is changing the lineup of the 11 company sectors that make up the benchmark index – it’s the biggest shake-up ever and will see major tech stocks group together in a new sub-index, which will attract billions of dollars on direct and indirect investment (via ETFs).
Read MoreBHP, Rio Drag ASX Higher Over The Week
The ASX is looking at a weak start this morning after traders pushed the ASX 200 futures market down 23 points on Friday night.
Read MoreSealed Bids To Settle Fox-Comcast Battle To Buy Sky Plc
A game of pass the envelope on Saturday in London will settle the $47 billion battle for control of Sky Plc, a key company in the Murdoch family’s fortune.
Read MoreDebt, Wages, Trade On Annual RBA Worry List
The list of issues concerning the country’s top economic policymakers narrowed in 2017-18 to just three, two of which are hangovers from preceding years, according to comments by RBA Governor, Phillip Lowe.
Read MoreBrickworks Solid But Soul Patts Slides
Sold full-year results from linked companies, Washington H Soul Pattinson and Brickworks after solid reports from major satellites including New Hope (50% owned) and TPG Telecom (25%) earlier in the week.
Read MoreKiwi GDP Posts Largest Quarterly Rise In Two Years
Growth rebounded strongly in the NZ economy in the year to June, hitting a two year high with yesterday’s second-quarter report showing a 1% rise from the three months to March when growth was 0.5%.
Read MoreRio Tinto To Return Coal Sale Proceeds To Shareholders
Rio Tinto says it will return $US3.2 billion ($4.4 billion) to shareholders from the cash raised in the recent sale of coal assets via a share buyback.
Read MoreSmiggle Sees Premier Investments Pen Solid Result
While some of Premier’s older fashion brands struggle to grow the Smiggle chain of children’s stationary stores is booming.
Read More“Customer Focus” Sees NAB Reshape Exec Remuneration
On Monday there was a significant restructuring of upper-level National Australia Bank managers, on Wednesday, the bank revealed an equally important revamp of pay and rewards for the new look management team.
Read MoreAustal Wins New Contract For US Navy Ships
West Australian based shipbuilder, Austal Limited says it has been awarded two more contracts from the US Navy valued at more than $1.5billion.
Read MoreGrowth Concerns Lead Global Fund Managers To Cash
US shares, cash and backing the US economy remain the favoured investment strategies from big global investors while fears of a slowdown in China are rising, as are worries about rising interest rates.
Read MoreMilk Price Outlook Sours Synlait Result
Shareholders in Australia and NZ didn’t take to the annual results from Kiwi milk processor Synlait Milk yesterday.
Read MoreRecord Payout As New Hope Rides Thermal Coal Prices
There will be some very happy shareholders in New Hope Corporation – especially its major holder – Washington H Soul Pattinson after the NSW and Queensland coal miner lifted total dividend payout for 2017-18 by 40%.
Read MoreBHP Confirms Plan To Drop ‘Billiton’ From Its Name
BHP Billiton has confirmed that it plans to ask shareholders at its UK and Australian annual meetings to remove the word “Billiton” from its name, around 17 years after taking over Billiton Plc and becoming the world’s biggest mining company.
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