Monday Market Minutes: CBA to the Rescue
The partial holiday Monday saw the ASX rebound from Friday’s 2% near panic selloff to close 1.3% higher and, for that, investors can thank the old faithful – the big four banks, led by the CBA.
Read MoreThe partial holiday Monday saw the ASX rebound from Friday’s 2% near panic selloff to close 1.3% higher and, for that, investors can thank the old faithful – the big four banks, led by the CBA.
Read MoreWhile the central bank meetings in Australia and New Zealand will be big deals locally, Friday’s US unemployment data will be the dominant event this week and a key input into when the Fed starts tapering.
Read MoreThe Chinese government has blinked and has organised a partial bailout of stricken property giant, China Evergrande with mainland media reporting a looming $US5 billion asset sale.
Read MoreNick Scali has gone deeper into couches and lounges with the purchase of rival retailer Plush, while Boral has offloaded its North American building products and timber division as well its Australian timber business.
Read MoreFord and Mercedes Benz have provided further details about their planned spending spree on battery and new car plants in yet another sign of the enormous pent-up demand for key renewable materials.
Read MoreFounded by a former Tesla chief technology officer, Redwood Materials is leading the way in the recovery and recycling of precious metals used in EV batteries – and it is time Australia followed their lead.
Read MoreSeptember proved once again to be the most miserable of months for investors, with little way of avoiding significant damage across most markets.
Read MoreIs there a bit more underlying strength in the economy than it seems and is that going to be sustained, or will it end up being a temporary blip and run out of puff in 2022?
Read MoreThe Federal Government doesn’t believe the iron ore price slide will impact export revenues, boosting its 2021-22 earnings forecasts from the mining and energy sector to a record $349 billion.
Read MoreThe Chinese economy remains almost impossible to get a bead on after the release of the monthly surveys – this time for September – of manufacturing and service sector activity.
Read MoreMaybe it’s true what they’ve been saying all along – Australia really is the “Lucky Country”. If what’s currently happening in our resource sector is anything to go by, it is hard to argue otherwise.
Read MoreCompetition regulator the ACCC has given the greenlight for Wesfarmers’ hardware chain Bunnings to acquire national tile retailer Beaumont Tiles.
Read MoreGold fell to the lowest in six months on Wednesday and sliver slid to a year low as the US dollar continued to rise on expectations of a sooner than expected boost to key interest rates.
Read MoreTwo of the world’s major gold miners have agreed to merge in a deal that will create a global major heavily weighted to Canada but with a sprinkling of interests elsewhere, including Victoria.
Read MoreWith a $US47.5 million interest payment due yesterday, debt-ladened Chinese property developer Evergrande surprised markets with the news that it would sell a stake in a Chinese bank for $US1.5 billion.
Read MoreThe iron ore casualty list is mounting as Mount Gibson Iron now looks set to join Venture Minerals and GWR in being forced to shut iron ore mines because of the slide in prices over the past three months.
Read MoreA horror night saw Wall Street down 2% and more, European shares down a half of a per cent to more than 2%, the Aussie market off 1.5% with more to come today, oil, gold, copper and iron ore all lower.
Read MoreThe Australian economy is heading for a contraction of 4% in the September quarter, perhaps more, after retail sales, a key barometer of household spending fell for a third consecutive month in August.
Read MorePathology group Australian Clinical Labs has, like its bigger rival Sonic, enjoyed a very good Covid lockdown testing boom, with the recently-listed company already upgrading its prospectus forecasts.
Read MoreBeach Energy, 30% controlled by Kerry Stokes’ Seven Group, unveiled to the market in an investor briefing on Tuesday its ambitious target of lifting output by 13% a year between now and 2024.
Read MoreChina’s power shortage and the continuing surge in global oil, coal and gas prices rattled markets yesterday, with the ASX shedding tens of billions of dollars of value in a 1.47% slide.
Read MoreChina’s power crisis is getting worse as admissions from government bodies, companies and local governments emerged into the media on Monday.
Read MoreOvernight Monday, Blackstone sold the The Cosmopolitan of Las Vegas hotel and casino for more than three times the $1.8 billion it paid for the property seven years ago. Is this their plan for Crown?
Read MoreThe annual loss was well telegraphed by Synlait, but not so the news of a new CEO; and that seems to have helped the shares rise yesterday to their highest level since early August.
Read MoreA two-day powwow is planned at Foxtel this week, ostensibly to discuss the company’s strategy moving forward. But the bigger question remains: Will News Corp float it or keep it?
Read MoreSigma Healthcare has come over the top of Wesfarmers and made a non-binding cash and share offer for rival chemist Australian Pharmaceutical Industries that seems to have grabbed the lead in the battle.
Read MoreChina’s petulant ban on imports of Australian coking and thermal coal has come back to bite it hard with the country scrambling to avoid a second round of power shortages ahead of the northern winter.
Read MoreChina sent shock waves through global markets on Friday after its central bank issued an unexpected statement that said all cryptocurrency-related transactions are illegal and must be banned.
Read MoreAnother week where different commodities told differing stories to different listeners – oil rose after Hurricane Ida, iron ore steadied, gold fell on rate concerns, and copper edged higher.
Read MoreThe US government finance crisis moves into centre stage this week, along with the ongoing tribulations of Evergrande and of course the continuing battle again Covid Delta and its economic and social impact.
Read MoreAfter last week’s turbulence, markets are likely to close out the final week of the third quarter with another bout of volatility, with the Evergrande situation the driving – but not only – factor.
Read MoreThe gods are smiling on our two big energy sector marriages – BHP selling its oil and gas operations to Woodside and its own shareholders, and the Santos swallowing of Oil Search.
Read MoreAfter a big PR campaign extolling its virtues as a major green player, BHP now wants to expand a coking coal mine in Queensland that is going to test those green credentials for both the company and regulators.
Read MoreIn the wake of this week’s Victorian earthquake and all the commentary it produced, not too many people remembered the smaller but much more damaging quake that battered Newcastle in December, 1989.
Read MoreShareholders in Vita Group are set to receive a special dividend of up to 45c a share thanks to the decision to sell its retail telco business to Telstra for $110 million.
Read MoreSandfire Resources has become the latest Australian miner to embrace the global renewables push with a company-transforming deal to buy a Spanish copper mining and processing business.
Read MoreThe market reacted favourably to strong earnings results from investment group Washington H. Soul Pattinson and its major shareholder Brickworks, pushing both companies’ shares higher on Thursday.
Read MoreNew Zealand’s global dairy giant Fonterra is looking at exiting Australia via a spin-off in a similar way to how Wesfarmers got rid of Coles and Woolies quit its Endeavour liquor and hotels business.
Read MoreRupert Murdoch’s News Corp has announced a $US1 billion program that will include the B Class voting shares, but will sterilise the existing stake of the family in the voting shares.
Read MoreSolomon Lew’s Premier Investments has announced a 97.3% jump in consolidated net profit after tax to $271.8 million for the 53 weeks ended July 31, and the market liked what it saw.
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