Author - Craig Foley

US oil and gold take a hit: ASX poised to open steady

20 Apr 2020 - Following a rally from US markets, the ASX looks set to open steady this morning. The International Monetary Fund says the global economy is expected to shrink by 3% this year, before growing by 5.8% next year. It’s reported the Global economy may not fully recover from the coronavirus crisis by 2021. Fonterra Co-operative Group (ASX:FSF) say Chinese bidders are returning to GlobalDairyTrade auction.

Read more...

China’s economy contracts: Aus shares close 1.3% higher

17 Apr 2020 - It has been a strong finish to the week for the Australian share market, closing 1.3 % higher today. Every sector made gains except Consumer Staples. Industrials led the day rising over 4 per cent. China released economic data which showed that its gross domestic product fell 6.8 per cent for the first quarter of 2020. Gaming major Crown Resorts (ASX:CWN) has been the recent subject of market speculation. Citi rates the stock as a...

Read more...

US unemployment reaches record high: ASX set to open higher

17 Apr 2020 - The Australian share market is expected to open higher this morning despite a seesaw session on Wall Street overnight and the released of fresh record unemployment data in the US. Ord Minnett has upgraded construction materials and lime produce Adelaide Brighton (ASX:ABC) from a hold to an accumulate, with a 12-month price target of $3.00.

Read more...