Latest Market News

RBA confirms severe economic downturn: Aus shares close 0.8% higher

18 Aug 2020 - The Australian share market rose at the open and closed 0.8 per cent higher. The Reserve Bank of Australia confirmed the economic downturn in Australia was the most severe in many decades, and staff estimates suggested a decline in GDP of around 7 per cent and a contraction in hours worked of around 10 per cent. That’s according to minutes released from the recent meeting.

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Aussie dollar rises over 72 US cents: ASX set to open higher

18 Aug 2020 - The ASX looks set to open higher this morning as US stocks rose mostly on technology as big banks sold off. The Democratic National Convention starts to run this week in the US ahead of the presidential election set for November – this is expected to raise caution on Wall Street. The AUD was up 0.49% to 72.06 US cents. Fisher & Paykel Healthcare (ASX:FPH) report that for the first four months of the financial...

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JB Hi-Fi riding high on results: Aus shares 0.5 % lower at noon

17 Aug 2020 - The ASX has opened firmly lower with broad based losses across the majority of sectors, but materials and healthcare have managed to edge into the green. Financials and communications services are leading the declines. NAB is down by 2.5 per cent while CBA is down over 1 per cent. JB Hi-Fi jumped in early trade to reach a new record of $51.33 following stellar results and is now trading around $49.78 cents.

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Aus shares to drop at the open on the back of mixed overseas leads: reporting season ramps up

17 Aug 2020 - Australian shares are set to drop at the open, taking direction from losses in Europe and lacklustre trading in the US. Wall Street was mixed retail sales in July fell short of forecasts, production met expectations. Shares in chip maker Applied Materials rose 3.9 per cent after it forecast fourth-quarter revenue above analyst estimates. Investors are also concerned over stalled coronavirus stimulus negotiations and simmering US-China tensions.

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RBA says responsible lending dented credit growth: Aus shares 0.5% higher

14 Aug 2020 - The Australian share market opened higher following mixed leads from international markets and is tracking 0.5 per cent higher mid-session. Most of the sectors are in the green, with Information Technology and Industrials leading the charge. Credit Suisse rates AGL Energy (ASX:AGL) as an Underperform, with a decreased 12-month price target of $12.60.

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Mostly negative international leads: Aus shares to open slightly lower

14 Aug 2020 - Australian shares are poised to slide at the open after mostly lower results on Wall Street and negative leads from European markets. Reporting Season is well underway, with Iluka Resources (ASX:ILU), National Australia Bank (ASX:NAB) and Newcrest Mining (ASX:NCM) expected to release their financial results today. A subsidiary of Ricegrowers (ASX:SGL), CopRice, has penned a purchase agreement to acquire the dairy and beef business of Riverbank Stockfeeds for under $10 million.

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