Prolonged Lockdowns Dog Rex
Australia’s would be 4th domestic airline Regional Express (Rex) has warned that the continuing lockdown in NSW will add $3 million to its projected losses for the June 30 year.
Read MoreAustralia’s would be 4th domestic airline Regional Express (Rex) has warned that the continuing lockdown in NSW will add $3 million to its projected losses for the June 30 year.
Read MoreThe midyear commodities boom has been well and truly pricked as prices of key products like oil, gold, silver, copper and iron ore continue to weaken.
Read MoreRail group Aurizon inched up its final dividend after reporting stagnant revenue and earnings for the 2020-21 financial year and forecasting not much of an improvement for 2021-22.
Read MoreThe current spate of Covid-driven restrictions imposed on Sydney construction activity has forced Brickworks to cut production by around a third and stand down a number of manufacturing staff.
Read MorePayoff time for shareholders in financial services group Suncorp with a special dividend, share buyback and a final dividend revealed in yesterday’s 2020-21 results.
Read MoreOpposite tacks for Westpac and NAB on Monday, with the former offloading its Australian life insurance business and the latter buying Citibank’s domestic consumer arm.
Read MoreDespite a continued surge in covid infections and news of more travel curbs, along with a surprise jump in Chinese PPI, Monday saw markets in Hong Kong and China rise.
Read MoreToll road giant Transurban returned to profit in the year to June but the continuing lockdowns around the country have clouded the company’s start to the 2021-22 financial year.
Read MoreAnother so-so monthly trade report from China – this time for the month of July – saw another solid rise in exports and imports but a small dip in the size of the surplus.
Read MoreConflicting news of record Wall St closes on Friday, sharp falls in gold and oil prices, a rise in US bond yields and a worsening in Covid infection numbers means an iffy start to the week is on the cards.
Read MoreWatch the share prices of local gold and oil companies today because they will come under a lot of downward pressure after global prices retreated on Friday – especially gold.
Read MoreA raft of various factors from corporate earnings to Covid Delta infection rates likely mean another challenging week for markets, which on Friday were in record-setting mode.
Read MoreWarren Buffett’s investment strategy continues to favour share buybacks over finding new bargains in the rising sharemarket or companies wanting to be sold to the single biggest investor.
Read MoreMany investors have forgotten that it’s a combination of factors behind the record iron ore prices and results for the big miners, and that basically it all comes down to good old economic fundamentals.
Read MoreThree of Australia’s major insurers – IAG, QBE and Suncorp – are due to report next week, and their comments about Covid-related claims will be the key issue, both for investors and the regulator.
Read MoreAs we head further into the Delta-driven lockdowns in place across the country, RBA Governor Philip Lowe says he believes it is “quite unlikely” Australia will suffer a recession this year.
Read MoreBHP reminded us on Friday that its fortunes are still tied to carbon and fossil fuels, announcing two oil related investments worth $US804 million or more than $A1 billion.
Read MoreResolute Mining has finally gotten rid of its troublesome Bibiani mine in Ghana, with the company reporting Thursday it secured a $90 million sale to Canada’s Asante Gold Corporation.
Read MoreA case of deja-vu for furniture retailer Nick Scali yesterday, as the company doubled net profit in the year to June but avoided issuing further guidance because of the ongoing lockdowns.
Read MoreWhile there was a trio of records for Australia’s trade account in Thursday’s July trade data from the Australian Bureau of Statistics, the continued Sydney lockdown is biting into the job market.
Read MoreIt was more good news on the bad debt front for Bendigo and Adelaide Bank which has joined its larger peers such as Westpac and the ANZ in writing back some of 2020’s provisions.
Read MoreAugust 18 looms as the next big date for the NZ economy with the country’s central bank now expected to reveal plans for a rate hike after unemployment fell sharply in the June quarter.
Read MoreThe June quarterly report from lithium major Albemarle underwhelmed on Wednesday with the shares closing down 0.6% in New York with no surge expected in lithium sales revenues and profits.
Read MoreSome snippets from three companies that gave updates to the market on Wednesday: auto parts retailer GUD Holdings, BWP Trust (Bunnings), and mortgage insurer Genworth.
Read MoreDespite a slide in iron ore prices, the Reserve Bank’s Commodity Price Index jumped 7.7% in July to hit an all-time high, topping previous boom peaks in 2011 and 2007-08.
Read MoreCovid is back worrying China’s authoritarian government at a time when it has been attacking various local businesses and boasting about the country’s strong performance at the Tokyo Olympics.
Read MoreThe 1.8% slide in June’s retail sales was confirmed yesterday as analysts forecast several more months of weak consumer activity because of the continued lockdowns.
Read MoreThe suspension of trans-Tasman quarantine-free travel has seen Air New Zealand lift its estimated loss by 20% and drawdown more funds from the standby facility established by the government.
Read MoreGold still has its charms, so too do iron ore and lithium, but the 30th Diggers and Dealers chatathon in Kalgoorlie this week has seen two golden oldies reclaim the top spots.
Read MoreDebt recovery group Credit Corp shares softened yesterday after the company forecast a 2021-22 performance not that much different to the 11% rise in net profit in the year to June.
Read MoreThe RBA held official interest rates at record low levels and kept its quantitative easing program unchanged in a modest reaction to the worsening lockdowns in Sydney and Southeast Queensland.
Read MoreThe ending of the HomeBuilder subsidy continued to hit the housing market in June, although both measures remain at historical highs on an end-of-financial-year basis.
Read MoreQantas dropped the axe on around 2,500 frontline workers on Tuesday as the impact of the Sydney lockdown in particular hit the airline’s operations and those of its Jetstar subsidiary.
Read MoreAustralia’s big four banks face a sharp contraction in their home lending activities across the Tasman after the Reserve Bank of New Zealand signalled a new round of clamps on Tuesday morning.
Read MoreNormally a surge in the price of a commodity tends to bring forth a rise in output over time; but sometimes a larger, more immediate factor intrudes and so it was in 2020.
Read MoreToday’s monetary policy meeting of the Reserve Bank would normally have been a low-key event, but the return of Covid and the associated lockdowns has changed all that.
Read MoreSantos and Oil Search have agreed to marry after a fortnight of horse trading over the terms of the $21 billion relationship that will see Santos acquire Oil Search in an all-paper transaction.
Read MoreA record setting day for Aussie stocks yesterday – in fact, the ASX saw two: one was the largest ever for the Australian sharemarket; the other, the largest ever for its sector.
Read MoreIt’s a bid-mad Monday, as US payments platform Square offered to buy the buy now pay later pioneer, Afterpay in a multi-billion dollar all paper transaction.
Read MoreDespite the soft global lead, the ASX is looking at a strong rise today, the first trading session for August, as futures traders went out on a limb and boosted the index by 37 points on Friday.
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