News Muncher - category asx

1 month, 1 week ago

ASX closes higher, while another economist pushes back rate cut expectations to May — as it happened

ABC

This note from Luci Ellis deserves to be posted in full. At current rates of productivity growth, WPI growth remains somewhat above rates that can be sustained in the long term without putting upward pressure on inflation. That suggests it would be difficult to sustain wages growth at its current pace in the longer term without a higher pace of …

Productivity Growth Inflation Labour Wages Quarter Rate

1 month, 2 weeks ago

RBA leaves cash rate at 4.35pc, acknowledging it's 'restrictive,' while ASX loses ground — as it happened

ABC

Here are some highlights from the RBA Board's statement. Underlying inflation remains too high: "Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance. "Headline inflation was 2.8 per cent over the year to the September quarter, down from 3.8 per cent over the year …

Growth Inflation Monetary Policy Cent Rba Remain

1 month, 3 weeks ago

ASX has lowest close since mid-September; household spending weaker than expected — as it happened

ABC

The Reserve Bank's new, less frequent meeting schedule hasn't done away with the Melbourne Cup day board meeting — we'll get the latest interest rate decision this coming Tuesday, half an hour before the race that stops the nation at Flemington. After this week's inflation figures showed price pressures easing off, but the RBA's preferred measure of underlying inflation — …

Board Inflation Rate Rba

2 months, 1 week ago

Rio Tinto snaps up Arcadium Lithium for $9.9b, ASX closes higher — as it happened

ABC

Tesla will host its long-awaited Robotaxi event later tonight, where the company is set to unveil the self-driving car its boss Elon Musk has talked about for years. But the Robotaxi event ended up getting pushed back to October after Musk said on his social media platform X that he had requested "an important design change to the front and …

Tesla Musk Elon Musk Wedbush Robotaxi

2 months, 2 weeks ago

ASX gains 0.7pc after surprise US job data sent Wall Street higher on Friday's close, Arcadium shares surge as Rio Tinto confirms takeover bid for the lithium miner

ABC

After a weak opening, the ASX 200 has gained momentum across the day to close 0.7% higher. ASX 200 by sector Unsurprisingly, takeover target Arcadium was the biggest winner, up almost $2 per share, or 45.7% after Rio Tinto confirmed it had lobbed a bid at the lithium miner. The blue chip ASX 20 gained 0.8% with all the banks …

Miner Asx

2 months, 3 weeks ago

ASX 200 retreats from record highs as mining stocks drag, Sigma Healthcare soars as Chemist Warehouse merger gets closer — as it happened

ABC

It was a day of red for the ASX 200, which has closed down 0.7% to 8,208 points at the end of trade this afternoon. The materials sector ended 2.3% lower — the worst of the 11 sectors on the ASX — just one day after recording its best month since April 2020. As for the best performer, Sigma Healthcare …

Sigma Healthcare

2 months, 3 weeks ago

ASX closes higher, Star Casino announces bailout, Qantas engineers pursue industrial action

ABC

The Reserve Bank has released its latest bi-annual financial stability review, which looks at the current health of Australia's financial system. In its latest Financial Stability Review released today, the RBA said the number of borrowers whose mortgage repayments and essential living costs exceeded their pay packets has remained at 5%. While borrowers are historically “more resilient” to rising unemployment …

Financial Review Borrowers Rba

4 months ago

ASX rises for ninth-straight session to record longest winning streak since December 2015 — as it happened

ABC

Hi team, just jumping in with some news. A class action against Jetstar on behalf of potentially hundreds of thousands of customers whose flights were cancelled during the COVID pandemic has been lodged in Federal Court. “Jetstar promotes itself as a values-driven, low fare airline committed to helping ‘more people fly, more often’, yet it’s a highly profitable part of …

Class Action Customers Jetstar

4 months, 3 weeks ago

Rex Airlines' future uncertain in wake of ASX trading halt

ABC

Regional Australian airline Rex has suspended trading on the Australian stock market pending an upcoming announcement. In a comment to the ABC, a spokesperson from Rex Airlines said the company was in an ASX trading halt "pending making a material announcement". Government to 'work with' Rex Prime Minister Anthony Albanese said on Monday it was "an important airline" and he …

Trading Routes Sydney Important King Perth Queensland

6 months, 3 weeks ago

As it happened: ASX up 0.8pc with solid gains across the board to finish just shy of a record close

ABC

Good morning and welcome to the working week. The ASX looks like it could be off to brisk start with the futures up 0.6% this morning, not quite making up for the sour end to last week, but not bad for starters. Europe didn't have a terrific end to the week, the Eurostoxx 600 was down 0.2% and the FTSE …

7 months ago

ASX sheds 0.9pc to end lower after being dragged down by health and tech stocks — as it happened

ABC

Westpac chief economist Luci Ellis says that the central bank and federal government are walking a fine line when it comes to controlling inflation, but says "some budget decisions might not be as inflationary as they seem". "The government is walking that fine line between providing support and services to a household sector under pressure and avoiding adding to that …

Inflation Ellis

7 months, 1 week ago

As it happened: ASX flat ahead of tomorrow's budget, business conditions and household spending fall

ABC

It's no secret that building approvals — a key forward indicator of future supply in housing — are grinding along at 12 year lows, but that doesn't mean things won't deteriorate further. Capital Economics Marcel Thieliant argues the downturn in home building has much further to run as a pipeline of unfinished homes left over from the pandemic is drying …

Unfinished Homes Capital Economics Unfinished Mr Thieliant Business Conditions Spending Fall

10 months, 2 weeks ago

RBA leaves interest rates unchanged at 4.35pc after first meeting of the year, ASX ends lower — as it happened

ABC

The Reserve Bank has released its latest forecasts for the economy. While lowering its inflation forecasts to reflect the latest December quarter Consumer Price Index, which came in well below its previous expectations, it appears to be wedded to its view that services inflation is sticky and will take a long time to tame. The RBA has taken 0.6 of …

Inflation Rba Forecast

11 months, 3 weeks ago

How will the ASX, Wall Street, other share markets and the Australian dollar perform in 2024?

ABC

Key market and currency watchers say the Australian share market is likely to outperform other major financial markets in 2024 and the Australian dollar will trade higher against the greenback with or without interest rate cuts. Key points: The ASX 200 could reach a record high in 2024 The Australian dollar is likely to continue to rise But a recession …

China Markets Market Interest Rates Central Banks 2024 Share

1 year, 3 months ago

ASX makes gains, Virgin calls for rethink on extra Qatar flights — as it happened

ABC

The Australian Competition and Consumer Commission says steel manufacturer BlueScope Steel has been ordered to pay a $57.5 million penalty for attempting to fix prices for flat steel products supplied in Australia. It is important that the deterrent effect of the penalty being imposed is not undermined by the ability of company directors and officers to insure against the financial …

Court Penalty Steel Ellis Conduct Mr Ellis Bluescope

1 year, 11 months ago

ASX slips, China's population shrinks as its COVID-hit economy grows at 'implausible' rate

ABC

Good afternoon, a little guest post from me on a highly entertaining research note that dropped into my inbox this arvo. In today's missive, he warns about the conflicts of interest inherent in so much investment and economic advice that gets dished out: "Talk to anyone on the equity side: isn't it always time to buy equities? "Talk to anyone …

Less Need That Crowd

1 year, 11 months ago

FTX crypto founder Sam Bankman-Fried pleads not guilty, ASX rebounds

ABC

The Australian share market has ended its day with strong gains, and managed to claw back all of yesterday's steep losses. The ASX 200 index jumped 1.6% to close at 7,059 points, with almost every sector posting gains. The US dollar was on the back foot after a steep spike overnight, with investors keenly awaiting minutes from the Federal Reserve's …

Fed Ing Founder Sam

2 years, 3 months ago

ASX dives again amid rate rise and recession fears, gold and oil stocks fall

ABC

The Australian share market has tumbled more than 1 per cent amid another fall on Wall Street, as investors worry about another supersized interest rate rise in the US, and as the World Bank warned of a global recession. Key points: The Dow Jones index fell 0.6pc to 30,962, the S&P 500 lost 1.1pc to 3,901, and the Nasdaq Composite …

China Stocks Bank Interest Rates Index World Bank West

2 years, 3 months ago

ASX slumps, Wall St suffers biggest falls since 2020 after US inflation shock

ABC

Around $60 billion has been wiped off the value of Australian shares after US inflation rose faster than expected in August, prompting fears of more aggressive interest rate rises by the US central bank. Key points: The Dow Jones index fell 3.9pc to 31,105, the S&P 500 index lost 4.3pc to 3,933, while the Nasdaq Composite fell 5.2pc to 11,634 …

Stocks Interest Rates Index Interest Oil Prices Cent Fed

2 years, 4 months ago

IMF downgrades 'gloomy' economy as inflation and rate jitters continue, but ASX trades up

ABC

The global economy is in "gloomy and uncertain" territory as rate hikes and inflation hit nations including Australia, according to the International Monetary Fund. It comes as new figures are released in Australia that show price hikes here are continuing, with inflation now at 6.1 per cent annually. That may be because the market had already factored in the possibility …

Australia Inflation Price Cent Rate Imf Dollar

2 years, 4 months ago

Wall Street a mixed bag ahead of rate hike decision, as ASX ends up

ABC

Australian shares have risen on Tuesday, despite Wall Street wavering ahead of another likely rate hike later this week. Over the past five days, the ASX 200 has gained 2.4 per cent, but is down almost 9 per cent for the last year to date. ASX up as Wall Street jitters continue In the US, the S&P 500 gained a …

Cent Wall Street

2 years, 6 months ago

Australian sharemarket: ASX 200 3.6pc down after recession fears wipe tens of billions from share market

ABC

How bad is it when compared to the start of the Pandemic and the GFC? -Matt Hi Matt, Our business reporter Sue Lannin has been talking to veteran market watcher Michael McCarthy, who is chief strategy officer from Tiger Brokers Australia. Michael McCarthy says yes, because rising interest rates have changed the economic and markets equation. However, Michael McCarthy warns …

Market Interest Rates Share Rates Michael Rba Michael Mccarthy