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ASX to rally, Santos has two potential bidders: report says
ASX futures add 0.9pc. Nvidia, Tesla pace S&P 500 and Nasdaq to record closing highs. BHP, Rio rally in New York. Gold, oil climb. Follow here.
- 28 mins ago
- Timothy Moore, Tom Richardson, Alex Gluyas, Joanne Tran and Joshua Peach
ASX to surge, Santos attracts two potential suitors
Australian shares are set to rise 0.9pc. Nvidia, Tesla pace S&P 500 and Nasdaq to record closing highs. BHP, Rio rally in New York. Iron ore gains 3.1pc.
- 42 mins ago
- Timothy Moore
JPMorgan’s Kolanovic to exit amid string of poor stock calls
The Wall Street firm’s chief global market strategist and co-head of global research, is leaving the bank, according to an internal memo obtained by Bloomberg.
- Alexandra Semenova
Three ASX stocks to ride out the retail rebound
As retail sales data tops market expectations, Morningstar says some beaten-up retailer stocks may be ripe for a recovery.
- Joshua Peach
Investors dodge the ASX as a rate rise looms
Australia’s sharemarket is falling further behind its global peers as the risk of a rate rise threatens earnings and performance.
- Alex Gluyas
Biden’s debate confession; Retail sales rise; Crucial super trick
Read everything that’s happened in the news so far today.
Opinion & Analysis
Ackman’s huge new fund offers zero fees, with a catch
The hedge fund king known for monster returns is set to market up to $US26 billion worth of shares to retail investors with zero fees for 12 months.
Journalist
Meme stock kingpin’s latest play has hit a brick wall
The man behind the GameStop mania of 2021 has a new $US250 million bet: pet food retailer Chewy, but it isn’t going to plan.
Technology writer
Why you should vote at the ballot box and not with your portfolio
Election uncertainty increases volatility, but investors should be cautious about over or underestimating the impact of political change.
Managing Director at UBS Australia
UniSuper’s John Pearce has a warning for this financial year
Super funds and portfolio managers have ruled off on a year that was powered by super stocks. As another begins, they’re looking for the obvious trades.
Senior reporter
Companies in the News
Liontown Resources
AGL Energy
Bendigo and Adelaide Bank
Commonwealth Bank
Updated: Jul 3, 2024 – 4.40pm. Data is 20 mins delayed.
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Meet the Fundie
GQG slashes tech exposure, here’s where it’s buying next
Brian Kersmanc was the first analyst that star stockpicker Rajiv Jain hired for his new firm. He’s now co-managing all of GQG’s strategies which are pumping out near-40 per cent returns.
- Alex Gluyas
Why hedge fund Geometrica only wants to make ‘easy money’
Fund managers James Bradley and Gary Hui go to painstaking lengths before they buy a stock like Nvidia or bet against one like The a2 Milk Company.
- Joanne Tran
Riding the wave: this Regal-backed fund is betting big on water
Kilter Rural’s Euan Friday predicts water prices will rocket 300 per cent this year, after huge government intervention and the weather dries up.
- Cecile Lefort
Yesterday
- Analysis
- Investing
Ackman’s huge new fund offers zero fees, with a catch
The hedge fund king known for monster returns is set to market up to $US26 billion worth of shares to retail investors with zero fees for 12 months.
- Tom Richardson
ASX rises as miners rally; Liontown drops 5pc
Shares advance at the closing bell; retail sales increased 0.6 per cent; Woodside trumps Santos in RBC’s global energy picks; Powell bolsters case for rate cuts. Follow updates here.
- Timothy Moore, Joanne Tran, Joshua Peach, Alex Gluyas and Sarah Jones
ASX to rise, S&P 500 closes above 5500 for first time
Australian shares are set to edge higher. Tesla surges 10pc, Apple also extended its rally. The Fed boss said disinflation is intact in the US.
- Updated
- Timothy Moore
Migration cut no ‘silver bullet’ to Australia’s inflation problem
While economists said a tightening in immigration rules should relieve rent prices and take pressure off the labour market, it may not be enough to curb inflation.
- Joanne Tran
Tesla surges as quarterly deliveries fall less than expected
Shares in the EV maker leapt 10.2 per cent after it reported that it delivered 443,956 vehicles in the second quarter.
- Kara Carlson and Dana Hull
This Month
- Analysis
- Pets
Meme stock kingpin’s latest play has hit a brick wall
The man behind the GameStop mania of 2021 has a new $US250 million bet: pet food retailer Chewy, but it isn’t going to plan.
- Nick Bonyhady
More pain tipped for lithium stocks as rout takes hold
Brokers are warning that the nose dive in lithium prices is far from over, spelling more trouble for the ASX’s worst-performing mining companies.
- Alex Gluyas
Trump’s ‘dangerous precedent’; ANZ lashed for fees; Bank names new CEO
Read everything that’s happened in the news so far today.
West African Resources in $120m cash call; Euroz Hartleys on ticket
The 87.6 million new shares were offered to investors at $1.37 apiece.
- Sarah Thompson, Kanika Sood and Emma Rapaport
ASX slips as rate worries weigh; Liontown, Woodside rally
Australian shares open modestly lower, led by banks and health stocks. Nasdaq leads US benchmarks higher. Liontown halts shares. Follow updates here.
- Updated
- Timothy Moore, Joshua Peach, Alex Gluyas, Sarah Jones and Joanne Tran
ASX to slip; US megacap techs rally to start quarter
Australian shares are set to open lower. On Wall Street, Apple, Microsoft and Tesla paced the advance. US bond yields spiked higher. Iron ore, oil were higher.
- Updated
- Timothy Moore
European stocks rise after first round of French vote
France’s blue-chip CAC 40 index jumped 1.1 per cent to lead gains among regional markets. The European banking index had its best day in more than a year.
- Sruthi Shankar and Jesus Calero
Wall Street maps out what a Trump victory would mean for bonds
Strategists are urging clients to position for sticky inflation and higher long-term bond yields.
- Carter Johnson and Michael Mackenzie
Volatility is only certainty for traders parsing French elections
Traders are preparing for another volatile week after Marine Le Pen’s far-right party won the first round of France’s legislative elections.
- Julien Ponthus, Allegra Catelli and Alice Gledhill
Investors hunt for diamonds among ASX dogs
With the new financial year kicking off, funds are busy hunting through the sharemarket’s bargain bin for oversold names, betting on a rebound.
- Joshua Peach
Shares to rally as profits grow at fastest clip in three years
Analysts have set the bar high for the second-quarter reporting season on Wall Street, with US companies tipped to post the fastest quarterly earnings growth since 2021.
- Alex Gluyas
- Opinion
- Investing
Why you should vote at the ballot box and not with your portfolio
Election uncertainty increases volatility, but investors should be cautious about over or underestimating the impact of political change.
- Andrew McAuley
Foreign students hit; Citi’s weightlifting fighter; $4.8m property tip
Read everything that’s happened in the news so far today.
ASX falls; Coronado, Whitehaven jump; WiseTech drops
Shares dip; coal stocks jump; Euro gains as Le Pen’s party set for smaller victory than feared; Lendlease rallies after selling US military housing business for $480 million. Follow updates here.
- Timothy Moore, Joanne Tran, Joshua Peach, Alex Gluyas and Sarah Jones
Inflation has no chance of hitting Chalmers’ forecasts: survey
Higher-than-expected inflation will take at least 12 months to fall anywhere near the Reserve Bank’s target, casting doubt on Treasurer Jim Chalmers’ more optimistic forecast.
- Joanne Tran