Latest Market News

Economy in line with expectations, services sector bounces back: 3rd day of red, 0.7% lower at noon

04 Sep 2019 - Aussie dollar bounces back on stronger than expected services sector and GDP in line with expectations, up 0.5% in Jun Qtr, 1.4% on year. All ASX sectors in the red, following Wall Street. About 20 companies go ex-dividend. ASIC takes action against Bendigo and Adelaide Bank (ASX:BEN) for unfair contract terms for its small business loan contracts for Delphi Bank and Rural Bank. Kogan (ASX:KGN) loses major shareholder but shares stay strong.

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US Manufacturing Index signals contraction: ASX set to open lower

04 Sep 2019 - Following negative leads from US markets, the ASX looks set to open lower this morning after US stocks fell as an American manufacturing report signaled contraction for the first time in three years. On the commodities front, oil lost as safe haven gold jumped $27. Following months of uncertainty Oil Search (ASX:OSH) says the Papua New Guinea Government to say it has now cleared the Papua LNG deal with French oil major Total.

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Disappointing retail trade and US future weigh in arvo trade: Aus shares close 0.1% lower

03 Sept 2019 - Market wrap: weaker than expected retail trade weighs, coupled with negative US futures. RBA says low-interest rates required to progress Australia. Surplus of $5.9b vs $1.4b expected. Nickel miner Independence Group (ASX:IGO) trades at 4-year highs on industry supply concerns. Amcor (ASX:AMC) dividend of US$0.12 for Qtr, EPS up for FY20. ASX and Oil Search (ASX:OSH) await PNG LNG decision from Govt.

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First surplus in 44 years, RBA to hold rates at 1%: Aus shares 0.1% up at noon

03 Sep 2019 - Better than expected Aussie current account surplus $5.9b, vs $1.4b, while retail trade disappoints. Independence Group (ASX:IGO) shares trading at 4-year years highs on nickel price surge. Bellamy's Australia (ASX:BAL) sees JP Morgan bump up stake in its business. Oil Search (ASX:OSH) expects key PNG Govt decision later today. Iron ore continues to bounce back. AUD new 10.5 year low.

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Nickel miners surge on Indo export bank: Aus shares snap 4-day win streak, lose 0.4%

02 Sep 2019 - Aussie shares see first day of red in five sessions, falling 0.4%. Manufacturing rises more than expected. Incitec Pivot Limited’s (ASX:IPL) kicks off review of Asia Pacific businesses, drops EBIT forecast. Western Areas (ASX:WSA) shares jump to year-high, up 14% on nickel price jump & JV progress. Telstra (ASX:TLS) updates guidance. Australian Unity Office Fund (ASX:AOF) $495m takeover on the cards.

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Sluggish start to week, Nickel prices & companies soar: Aus shares 0.1% lower at noon

02 Sep 2019 - Sluggish start to the trading week, Aussie shares break the four-day winning streak. Nickel prices skyrocketed to five-year highs on Indonesia banning ore exports from Dec. Australian manufacturing stronger than expected for new financial year. Link Group (ASX:LNK) upgraded with PT of $6.20. Western Areas (ASX:WSA) shares surge to year high on Nickel price rise plus on new discovery of high-grade nickel-copper at JV. Netwealth Group (ASX:NWL) Heine family reduce stake.

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IT sector adds the most this week, 6%: Aus shares rise for 2nd week, this time adding 1.2%

30 Aug 2019 - Four days of straight gains and benchmark ASX200 now about 4% away from the all-time high hit late July. Australian dwellings approvals fall 9.7%, vs flat result expected. Austal Ltd (ASX:ASB) shares jump on record revenue and profit. Resolute Mining (ASX:RSG) attributable profit lifts 9%. ACCC takes action against BlueScope Steel (ASX:BSL).

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