NewsBite

Alex Gluyas

Today

GYG shares nearly doubled from its float price.

‘Stretched valuation’: Dump GyG for KFC, says Goldman Sachs

It has initiated coverage on Guzman y Gomez with a “sell” rating, predicting its shares will drop 12 per over the next 12 months.

Guzman y Gomez is the ASX’s largest IPO this year.

Australia’s IPO drought is the worst since the GFC

Fund managers are frustrated about the lack of quality listings on the ASX, and who can blame them? Anyone who got Guzman y Gomez for $22 is sitting on a tidy profit.

Wall Street edged higher and that’s pointing to a very modest local opening.

ASX ekes out gain as traders tread water; Sigma Healthcare rally extends

Australian shares inch higher in muted session. Pilbara shares shopped. Energy stock hold gains as fighting in Lebanon escalates. Follow updates here.

Yesterday

US stocks fell on the first trading day of their fourth quarter.

ASX slips; energy, miners lift

Shares eases; MFF eyes Montaka; HPI rejects Charter Hall-Hostplus bid; Macquarie tips massive degradation in Star; Santos inks LNG contract with TotalEnergies. Follow updates here.

  • Updated
Israeli families take cover on the side of a freeway from Iranian missile strikes.

Middle East escalation rocks bullish markets

Investors have been dealt a swift reality check as tensions between Iran and Israel threaten to bubble over after missile attacks.

Advertisement

This Month

Chinese President Xi Jinping.

ASX caught in China-fuelled short squeeze

Avoiding China and owning banks was an easy route to beating the market. Now those winning bets are crumbling.

Shares appear set for some opening weakness after a blistering September quarter.

ASX falls; retail sales bounce, Sigma Healthcare rallies 20pc

Miners give back gains. Qantas slips on Qatar-Virgin deal. Powell tempers rate cut hopes. REA investors welcome Rightmove decision. Follow updates here.

  • Updated

September

Australian shares are poised to start the final trading day of the month higher.

ASX closes at all-time top, ends the quarter 6.5 higher

Shares reset record high; Synlait posts giant loss; Pacific Smiles rejects Genesis bid; AGL nabs new deal with Portland smelter; iron ore prices leap 7pc. Follow updates here.

  • Updated
ASX mining stocks have soared 11.1 per cent over the past five days.

Iron ore rockets 10pc as ASX, China records tumble

The price of Australia’s key export soared above $US110 a tonne on Monday, extending a rally in mining stocks and lifting the sharemarket to a record.

Investors are returning to the Chinese sharemarket, buoyed by hope of a recovery in consumer demand.

China pledges more stimulus, driving asset prices higher

China’s Politburo injected fresh excitement into financial markets on Thursday, pushing for more fiscal spending to stabilise the property sector.

  • Updated
Local shares are set to open higher.

ASX rallies as China pledges more stimulus; Regal rises

Shares advance; Platinum board says Regal bid ‘undervalues’ the listed global equities fund manager; ACCC allows Lendlease projects sale to Stockland and Supalai; Soul Patts profit slides. Follow updates here.

Iron ore prices are still down 30 per cent this year.

China kills ASX bank rally as money piles into miners

Traders are scrambling after China’s latest effort to boost its economy prompted investors to rapidly pull money from the big four banks and pile into the mining sector.

  • Updated
Commodities rallied on hope that China has begun a more determined effort to bolster growth.

ASX ends lower as rotation churns; Rightmove rejects third REA bid

Inflation falls within RBA’s target for first time in 3 years. Investors shift money from banks to miners. Lew sidelines demerger plans. Aussie dollar hits 18-month high. Follow updates here.

  • Updated
The People’s Bank of China cut two key policy rates by 10 basis points, its first rate reduction in nearly six months.

Markets cheer China stimulus, but pundits warn it’s no ‘bazooka’

Iron ore futures surged 6 per cent, triggering a rally in ASX mining stocks, but China’s latest support package may not have a lasting impact on commodity prices.

The RBA on Tuesday is widely expected to keep the cash rate steady.

ASX dips as banks and supermarkets sink; BHP rallies

Shares fall; Iron ore spikes on China rate cut; Light & Wonder dives after losing in Nevada; Cettire releases audited results. Follow updates here.

  • Updated
Advertisement

Coles, Woolies drag ASX lower ahead of RBA

ASX snaps winning streak. ACCC sues supermarket giants for misleading discounts; CBA, iron ore giants fall; Austal nabs US Navy deal; REA makes third bid for Britain’s Rightmove. Follow updates here.

  • Updated
The sun is setting on the days of huge payouts from ASX miners.

ASX in the ‘dividend doldrums’ as boards hoard cash

The Australian sharemarket had one of the sharpest declines in payouts in the world in the second quarter and the outlook is not much better, investors warn.

The big cut in the US cash rate sent markets surging. But concerns that this won’t be immediately followed in Australia have the local maret opening lower.

ASX to drop from record as traders brace for more RBA hawkishness

Futures indicate the ASX 200 will drop 0.8 per cent at the opening bell on Monday after a week of optimism. Markets in the US closed slightly lower on Friday.

Local shares are set to open higher.

ASX closes at all-time high, Life360 leaps

Shares scale all-time high; UBS lifts NAB, Westpac price targets; Myer cuts dividend; Regis Healthcare and Kelsian nab contracts; Namoi Cotton backs Olam Agri bid; Follow updates here.

  • Updated
There are millions of unsold, unfinished and vacant homes across China due to the property market collapse.

The market’s most ‘contrarian play’ is high-risk, high-reward

With fund managers’ allocation to commodities at a multi-year low, traders are weighing the chance to front-run a rebound, but that involves a big bet on China.

Original URL: https://www.afr.com/by/alex-gluyas-p4yw7q