The Reserve Bank has kept rates on hold, which was expected, as ‘underlying inflation’ remains too high. Domino’s shares tank as CEO departs. No government tenders for PwC until mid-2025. LIC spikes on HMC interest.
The concentration risk in global stock indexes that has built up during the strong rise over the past year must now be a key consideration for global investors, according to Vihari Ross.
MinRes takeover/break-up not ruled out as billionaire boss Chris Ellison’s exit plan takes shape. AFP enter PwC Australia offices as part of confidential breach probe. Westpac down on dividend miss, high costs.
Investors love giant tech stocks including Apple, Microsoft and Meta, but some analysts say their short-term outlook is shaky.
This week’s US Presidential election will dominate investor thinking as the RBA is tipped to leave rates unchanged on Melbourne Cup day.
It has been a rough week for stocks as bond yields continue to soar, but the US election could offer a buying opportunity.
An earnings miss; a watered-down outlook; and an effective dividend cut. It was a rare trifecta of negatives for the bank. Who’s game to bet against it?
Macquarie shares dive to a seven-week low after its interim profit falls short of analysts’ expectations. Zenith cuts Paradice midcap fund. Deloitte cutting more jobs. Amcor declines after maintains guidance. Global markets await US jobs data.
Amid heightened focus on the US election, NAB’s economics team concludes there could well be more downside than upside risk to US economic growth from Donald Trump’s policies.
The nation’s largest retailer has surprised the market with a profit warning about slowing sales growth at its supermarkets as shoppers pull back.
Inflation is declining but that’s not yet enough for the Reserve Bank to sound the all-clear and cut its cash rate, economists believe.
The new boss talks about getting the balance right with customers but deeper trust issues are already hurting the supermarket major.
The ASX hits a four-week low before rebounding. Gains in tech, consumer discretionary, property and financial stocks are offset by falls elsewhere. Investors pile into Mineral Resources after Rinehart’s $1.13bn deal. JB Hi-Fi, Wesfarmers and Coles rise on positive updates.
The S&P/ASX 200 index closed down 0.8 per cent at 8180.4 points after hitting a three-week low after disappointing inflation figures and a profit warning from Woolworths. Annual headline inflation drops to 2.8 per cent. Trimmed mean CPI of 3.5 per cent meets estimates. CBA scraps call for RBA rate cut in December.
The billionaire will be calling the shots at Myer but what does the monster Just Jeans deal mean for the department store?
Gold may be vulnerable to a pullback around the US election but long-term fundamentals are compelling, according to the World Gold Council’s John Reade.
Recent rallies have left many equity markets with expensive valuations but the silver lining is that encourages a focus on finding cheaper, more attractive opportunities at a subindex level.
The local sharemarket rose slightly, led by property and tech stocks. Qantas and Premier Investments hit records. Myer spikes up after $864m apparel brands deal with Premier as Solomon Lew scores a board seat.
Australia’s economic deterioration has led to a sharp increase in ASX-listed zombie companies who are barely staying afloat, according to KPMG.
Donald Trump will do his best to ensure the US stockmarket will do well under his presidency if he is elected for a second term, New York fund manager Beeneet Kothari predicts.
Original URL: https://www.theaustralian.com.au/business/markets/page/12