February 2021
- Analysis
- Australia's China challenge
China’s easy credit days are numbered
Beijing is set to refocus its attention on reining in leverage and Australia will have to adjust.
ASX rises; TechnologyOne defends rem report ahead of AGM vote
Buy now pay later delivered a strong session for the technology sector. CIMIC shares hammered following full year results release. Crown director Poynton separates from Packer’s Consolidated Press. Follow updates live here.
- Analysis
- Cryptocurrencies
Crypto’s three-ringed circus: bitcoin, Musk and tether
Elon Musk’s has bet big on bitcoin but that hasn’t deterred the bears who fear a growing speculative frenzy.
ASX slips; Computershare upgrades guidance
The Australian sharemarket has closed lower; Dexus says activity lifting as people return to work; Challenger punished after cutting dividend; Macquarie Bank CEO retires in board, management shake-up; Business confidence rises in January; future of Crown’s Sydney casino licence uncertain.
- Updated
- Analysis
- Iron ore
Iron ore bulls steel for China’s shake-up
Iron ore bulls need to be alert as Beijing pushes for a leaner and greener steel industry.
ASX closes in on pre-Covid high; BHP, Rio drive market gains
The mining sector has led the ASX higher. Iron ore miners rise despite the commodity spot market pull back. JPMorgan sees upside in low expectations for AMP results. Follow updates live here.
- Updated
ASX up 3.5pc in best week in three months; Afterpay hits record high
The sharemarket finished at a fresh 11-month high on strength in bank stocks and a 13.2 per cent rally in News Corp shares. Tech stocks had their best week since October.
- Updated
ASX snaps three-day winning streak as AGL, Origin slide
The sharemarket fell 0.9 per cent as Origin Energy tumbled 6.8 per cent on an earnings warning. Rising bond yields hurt Sydney Airport, Transurban and property stocks.
- Updated
China won’t slam on monetary brakes
China’s central bank has allayed fears of tighter policy by reining in overnight rates after they spiked to a five-year high.
ASX stretches out rally on $8b bank bonanza
The ASX closed up 0.9pc after another strong session for the banks. Amcor gained solidly after a surge in first-half profit, Virgin Money spiked 15pc after issuing margin guidance and Pinnacle reported a 120pc profit jump.
- Analysis
- Currencies
Will US dollar bears get GameStopped?
The US dollar was supposed to decline by 5-10 per cent this year but the greenback has instead clawed its way to a five-week high.
RBA doubles QE; rates on hold at 0.1pc to 2024
ASX closes up 1.5pc, RBA lifts QE by $100b from April at $5b a week, 3-year yield target kept at 0.1pc, 10-year yield falls from 1.17pc to 1.12pc; $A falls.
- Analysis
- World markets
China’s rate rumble trumps GameStop sideshow
The spike in China’s overnight rate highlights Beijing’s challenge in reining in leverage.
- Updated
ASX caps off best session in nine days; Worley slumps 10pc
The Australian sharemarket closed higher after rallying from an opening loss; Macquarie flags legislative risks for Atlas Arteria; Westgold says WA lockdown will have “minimal” impact; Wilsons bullish on Marley Spoon after “solid finish to big year”; Silver prices soar as retail investors buy in.
- Updated
January 2021
ASX sinks 2.8pc in worst week since October
The sharemarket limped to a fourth month of gains despite a late slide on Friday afternoon. Volatility spiked over the week as retail traders took on Wall Street. Westpac lifted its $A forecast to US85¢ by mid-2022.
- Updated
ASX sinks 1.9pc; Tech tanks 4pc as Afterpay, Kogan, Xero slide
The sharemarket slumped to a three-week low as blue chips led the sharpest sell-off since September. Tech stocks plunged 4 per cent. Gold stocks hit nine-month low. GME Resources soars 13 per cent on GameStop frenzy.
- Updated
ASX dips 0.7pc; Tyro says ‘limited’ merchants affected
The sharemarket fell as big miners retreated on weaker iron ore prices. Fortescue tumbles 6 per cent. Reliance jumped more than 6 per cent on upbeat guidance. Eagers eyes $209 million full year profit. Temple & Webster, AMA slammed.
- Updated
ASX up 1.3pc in huge week for Zip, Lynas
The Australian sharemarket fell 0.3 per cent on Friday but ended the week higher on US stimulus hopes. Lynas surged 13.7 per cent on Friday after inking a deal with the Pentagon.
- Updated
ASX gains 0.8pc; Zip soars 23pc; Cleanaway plunges
The sharemarket finished at a fresh 11-month high as Afterpay and Zip paced a rally in buy now, pay later stocks. Cleanaway lost 8.5 per cent after CEO Vik Bansal resigned.
- Updated
- Analysis
- US election
Greenback bears owe Yellen a debt of gratitude
New US Treasury Secretary Janet's Yellen's call for policymakers to 'act big' on stimulus has stoked debt fears.