Australian home prices up on supply shortfall, but at risk from high rates
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses home prices.
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ASX up 0.26% at noon: Australian building approvals fall 4.6%
Australian building approvals in September fell by 4.6%, surprising analysts who had anticipated a 1.3% increase.
Read MoreStocks of the Hour: NOVONIX, Wildcat Resources, Ioneer
A snapshot of the stocks on the move, featuring NOVONIX (ASX:NVX), Wildcat Resources (ASX:WC8) and Ioneer (ASX:INR).
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BHP approves $23.5 billion investment for Jansen Potash Project in Canada
BHP (ASX:BHP) has increased the value of its massive Jansen potash project to over $23.5 billion, with the approval of Stage 2 in Saskatchewan, Canada. This stage will cost approximately $4.9 billion, following BHP's previous approval of $5.7 billion for Stage 1 and a pre-Jansen Stage 1 investment of $4.5 billion in August 2021.
Read MoreCentral Banks revive gold appetite, September quarter falls short of 2022 peak
According to the latest data from the World Gold Council (WGC), central banks, led by China, reduced their gold purchases in the three months to September but appear to be on track for another near-record performance in 2023.
Read MoreMixed results for markets and commodities in October
In October, some markets experienced positive gains, but the story was quite different for key commodities, including major ones. Oil and copper faced harsh realities, and despite gold briefly surpassing $2,000 per ounce, it quickly retreated.
Read MoreS&P500 climbs ahead of Fed rates decision
Stocks edged higher on Tuesday, as Wall Street closed out a tough month of trading. Stocks posted their third-straight losing month. The Dow and the S&P 500 fell 1.4% and 2.2%, respectively.
Read MoreS&P500 climbs ahead of Fed rates decision
Stocks edged higher on Tuesday, as Wall Street closed out a tough month of trading. Stocks posted their third-straight losing month. The Dow and the S&P 500 fell 1.4% and 2.2%, respectively.
Read MoreASX closes 0.12% higher as Consumer Staples outperforms
On Tuesday, the Australian sharemarket experienced a modest increase, driven by a rally in consumer staples and real estate stocks.
Read MoreIFS spotlights mining’s ESG evolution
IFS will lead a panel discussion at the International Mining and Resources Conference, focusing on harnessing cutting-edge technology to transform mining operations and achieve sustainability and ESG targets, especially achieving Net-Zero Emissions.
Read MoreChina and US highlight critical minerals collaboration with Australia is key to future
Australia has an opportunity to contribute to the growing demand for critical minerals by strengthening global supply chains and increasing collaboration at a strategic national level.
Read MoreHSBC reports 235% surge in Q3 earnings despite Chinese property write-downs
A week ago, Standard Chartered Bank revealed a slide in quarterly earnings due to write-downs in the value of its Chinese property and banking investments, amounting to nearly $1 billion. Yesterday, its UK-based rival, HSBC, reported a massive 235% surge in earnings for the September quarter, despite a half-billion-dollar write-down on its Chinese property dealings.
Read MoreTreasury Wine Estates announces $1.6 billion deal to acquire Daou Estates
With the resolution of Chinese wine tariffs on the horizon in the coming weeks, Treasury Wine Estates is making a significant move in the US alcohol sector. The company has a history of major deals in the US, notably the acquisition of Beringer Estates when it was under Foster's control.
Read MoreAussies’ rekindled love for chicken amid soaring red meat prices
Australians appear to have rekindled their taste for chicken, possibly due to the prolonged high prices of red meat, as consumers face mounting living expenses. As people increasingly opt for home-cooked meals and cost-cutting measures, they turn to more affordable protein sources and fresh produce.
Read MoreUncertainty looms over $18.7 billion Canadian-US bid for Origin Energy
The $18.7 billion Canadian-US bid for Origin Energy appears to be in jeopardy and may require a higher offer price, as Origin's largest shareholder, AustralianSuper, has rejected the current deal.
Read MoreChina’s economy slows unexpectedly in October
The pace of activity across China's vast economy unexpectedly slowed last month. Manufacturing slid into contraction, services produced an unexpectedly low result, and the overall measure showed the lowest rate of expansion in 11 months.
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ASX up 0.37% at noon following the US markets lead
At noon, the S&P/ASX 200 is 0.37 per cent higher at 6,798. Asia-Pacific markets were mixed with markets awaiting monetary policy decisions by the Bank of Japan. The Bank of Japan is expected to finish its policy meeting later today Australian time. The key question on investors minds is the inflation outlook.
Read MoreStocks of the Hour: Chimeric Therapeutics, Power Minerals, James Bay Minerals
A snapshot of the stocks on the move, featuring Chimeric Therapeutics (ASX:CHM), Power Minerals (ASX:PNN) and James Bay Minerals (ASX:JBY).
Read MoreImmutep (ASX:IMM) reports 71.4% response rate for lung cancer therapy
Immutep Limited (ASX:IMM) CEO and Executive Director Marc Voigt discusses progress of the company's drug candidates, highlighting promising data from the 2023 ESMO Congress.
Read MoreStocks surge as S&P 500 exits correction zone ahead of pivotal week
Stocks rallied on Monday, with the S&P 500 ending the day out of correction territory, as traders kicked off a big week filled with a Federal Reserve rate decision, jobs report and Apple’s earnings.
Read MoreStocks surge as S&P 500 exits correction zone ahead of pivotal week
Stocks rallied on Monday, with the S&P 500 ending the day out of correction territory, as traders kicked off a big week filled with a Federal Reserve rate decision, jobs report and Apple’s earnings.
Read MoreASX closes 0.8% lower to hit its lowest point since October 2022
On Monday, the ASX experienced a decline of 0.8 percent at 6772.9 points. This drop below 6800 points marked the first time it had done so this year and is its lowest point since October 2022. The decline was influenced by renewed fears that the conflict between Israel and Hamas could escalate into a regional war, causing investors to move away from equities.
Read MoreAnalysing the September sales surge
Some analysts considered the unexpected 0.9% increase in Australian retail sales in September as an example of a 'hot' statistic, indicating that consumers had reawakened after a winter lull.
Read MoreBuffett’s moves raise questions
After a four-month hiatus, Berkshire Hathaway has re-entered the market by acquiring over 4 million shares of Occidental Petroleum in the past week.
Read MoreUS Fed holds steady
Even though the economy is booming and job growth continues, inflation is slowing, leading the US Federal Reserve to refrain from raising interest rates this week.
Read MoreAfternoon update: ASX down 0.55% as Israel launches ground operations
The ASX has reached a 12-month low due to investor concerns that the Israel-Hamas conflict may lead to a regional war.
Read MoreInvestors react to IGO’s quarterly report amid lithium market uncertainty
Investors had a strong reaction yesterday to IGO's (ASX:IGO) quarterly report, driven by concerns about the volatile outlook for lithium. IGO's shares initially plunged by 11% in early trading, but by 11:30 am, the decline had reduced to just over 4%.
Read MoreASX down 0.62% at noon as Australian retail sales rise by 0.9% in September
Australian retail sales exceeded expectations by rising 0.9% in September, compared to economists' forecast of a 0.3% increase, following slower growth in August and July.
Read MoreStocks of the Hour: Tamboran Resources, TG Metals, Tietto Minerals
A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), TG Metals (ASX:TG6) and Tietto Minerals (ASX:TIE).
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Fears of recession pull the Dow lower
Renewed selling on fears of a recession dragged the Dow Jones Industrial Average lower on Friday and pushed the S&P 500 into correction territory.
Read MoreFears of recession pull the Dow lower
Renewed selling on fears of a recession dragged the Dow Jones Industrial Average lower on Friday and pushed the S&P 500 into correction territory.
Read MoreHancock Prospecting’s Rinehart acquires big stake in Azure amid takeover drama
In the span of a month, Gina Rinehart and Hancock Prospecting have once again acquired a significant shareholding, this time in Australian lithium company Azure Minerals (ASX:AZS), which is currently under a foreign takeover offer. Rinehart and Hancock Prospecting previously secured a 19.9% stake in Liontown Resources, thwarting a $6.6 billion offer from US group Albemarle.
Read MoreGlobal stock markets face correction as S&P 500 joins Nasdaq in 10% decline
Two of the three most-followed global share market indices have now stumbled into correction territory after the S&P 500 followed the Nasdaq into a 10% plus decline on Friday.
Read MoreThis week in three words: Fed, jobs, and global markets
This week, up until Wednesday afternoon, US time, the focus is on the Federal Reserve (Fed) and the US job market, as the end-of-month/start-of-month data crunch begins for late October and early November. However, the escalated fighting in Gaza poses a constant threat to market stability and millions of lives, causing fluctuations in oil and gold prices, as well as shares and bond rates, especially in the US.
Read MoreUS Q3 earnings show positive trend, Apple dominates upcoming week
The US third-quarter earnings turned more positive last week, and with another significant week ahead, dominated by Apple, there’s a good chance the improving trend will continue.
Read MoreCommodity market trends amid escalating Gaza conflict and oil price fluctuations
The stepped-up fighting in Gaza is likely to trigger more anxiety in commodity markets this week, especially after Israel's broader attack began today.
Read MoreShares under pressure, Central banks at/near top, RBA likely to hike, but case for wait and see
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events.
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