Finance news you need to know today

CONSUMER sentiment has fallen for the seventh consecutive month, marking the weakest succession of reads since 2008.

THE Australian market looks set to open modestly higher, bucking the trend of overseas markets which have fallen across the board as investors head to safe haven assets amid escalating tension between the US and North Korea. At 0700 AEST on Thursday, the share price futures index was up eight points, or 0.14 per cent, at 5,705.

Meanwhile, the Australian dollar is slightly lower against its US counterpart which itself has lost a little ground against a basket of major currencies in the offshore session. The local currency was trading at 78.82 US cents at 0700 AEST on Thursday, from 78.87 on Wednesday.

WORLD FINANCE UPDATE:

LONDON — Brexit minister David Davis says the EU has proposed only allowing Britons living in the bloc to remain in their country of residence once a deal between the two parties has been rubber-stamped.

LOS ANGELES — Amber Heard says she has broken up with billionaire SpaceX and Tesla mogul Elon Musk.

NEW YORK — Want to live like a Trump? Now’s your chance: The president’s New York City boyhood home is on Airbnb.

WEDNESDAY HIGHLIGHTS:

CBA — Commonwealth Bank chief executive Ian Narev has tried to switch the focus from his bank’s legal woes to the benefits Australians will enjoy as a result of the lender’s record $9.9 billion annual profit.

AUSTRAC — Commonwealth Bank chief executive Ian Narev admits the bank made mistakes, but won’t say whether anyone was fired following allegations the lender breached money laundering and terrorism financing laws.

AUSSIE — Commonwealth Bank is buying the remaining 20 per cent stake of Aussie Homes Loans from founder John Symond.

HOUSING FINANCE — Home loan approvals for June have come in lower than expected and with a surprise lift in investor lending, but analysts warn it should not be taken as a sign new lending controls are failing to slow the housing market.

CONSUMER WESTPAC — Consumer sentiment has fallen for the seventh consecutive month, marking the weakest succession of reads since 2008, the time of the Global Financial Crisis.

SKY CITY — Trans-Tasman casino owner SkyCity Entertainment expects a further drop in earnings from its Darwin casino as poker machine players opt for rival pubs and clubs.

BELLAMYS — Shares in infant formula maker Bellamy’s Australia have soared after Chinese authorities lifted a licence suspension on the company’s recently acquired Camperdown canning facility.

CARSALES — Online classifieds business Carsales.com says tyre sales and vehicle inspections have been the main drivers of its revenue growth.

DIGGERS BATTERIES — Excitement over the global battery market is fuelling a scramble in Australia to invest in projects to mine minerals essential to the new growth sector.