CC Capital trumps Bain takeover bid for Insignia. Infratil flags more CDC support as debt costs weigh on valuation. Shares in Goodman, Nine up after notable investor moves. Whyalla Steelworks restarts with unresolved issues.
The local bourse closed the week on an upbeat note, boosted by uranium and oil stocks as the major miners declined.
The local sharemarket has turned up in thin holiday trade, with gains broadbased, despite a fresh post-pandemic low for the Aussie dollar.
Property and consumer stocks were worst hit on the last trading day of the year, but the sharemarket made a healthy 12-month return.
Losses from big US tech stocks and profit-taking have hit the local sharemarket, with most sectors retreating.
A Friday rally of half a percentage point failed to retrace losses booked earlier in the week.
Domestic shares closed higher after the release of minutes from the RBA’s last meeting for 2024, which received some support from the IMF overnight. SBM hit with PNG tax bill.
The sharemarket closed 1.7 per cent higher, with gains across the board, led by the heavyweight financial sector. News Corp found strong support after its mega $3.4bn Foxtel deal.
Utilities, energy stocks the only bright spots as index falls to three-month low. CBA tops large-cap declines. Mesoblast down on profit-taking. Japan’s Nippon Sanso to buy Wesfarmers’ Coregas.
The ASX 200 suffered its worst day in three months, as investors dumped tech, bank and mining stocks. The Australian dollar also hit a two-year low after big falls on Wall Street following the Federal Reserve’s weak rates outlook.
Financial regulator targets crypto giant over alleged customer fails. Insignia rejects Bain bid. Chalmers’ spending plans to challenge RBA fight. ANZ facing more regulatory scrutiny. Aus economy in ‘reasonable shape’: NAB CEO.
Data#3 down after flagging Microsoft hit. PEXA soars on change of guard. BlueScope, BHP and Rio Tinto pick site for smelting pilot plant. House prices to stall next year: HSBC. Meta settles Aus privacy breach case.
Surprise inclusions in RBA’s new-look monetary policy board; new governance board members named. Data centres-focused DigiCo continues to decline. HSBC sued for alleged scam fails. China slump a blow to Treasurer’s mid-year budget update.
DigiCo flops on in subdued start to public life. Insignia considering Bain’s $4 per share bid. Iress promises to reinstate dividends. Rio to spend $US2.5bn on new lithium mine in Argentina. Premier’s FY25 start ‘challenging’. China stimulus talk disappoints
ASX 200 hits three-week low before US CPI data. Resolution-MLC merger in Nippon’s $US8.7bn buyout plan. Cement Australia buys BGC arm. ASIC sues Rex directors. Bets up on RBA rate cut in February. 2024’s biggest float DigiCo’s ‘overpriced’.
Michele Bullock rejects commentary the RBA has misread the weakness in the economy and should have already moved to cut interest rates. ASX fell on tech, banks and property. But miners up on China stimulus hopes. 480 Mosaic jobs to go; Katies to shutter. Business confidence falls. Perpetual hit on ATO ruling on KKR deal.
Ex-HSBC veteran Nuno Matos will be next ANZ CEO. Platinum crashes, Regal down after takeover talks end. CBA, Goodman jump. Star hits record low. Woolworths flags $140m hit from now-ended strikes. Sonic buying German lab group for $699m. GQG rises after canning buyback.
US jobs data due. ASX has worst day, lowest close in over a week after record highs. Goodman Group, APA Group sell-downs completed. Iluka’s WA refinery costs weigh as government steps up support. Domino’s downgraded. Aristocrat down as gaming CEO joins rival. WiseTech director pockets nearly $200m via share sale.
Bitcoin hits much-awaited milestone. Rio Tinto’s buyback, dual-listing pressures mount. HMC rises on $950m energy buyout. Kmart finds new boss. Aristocrat gaming arm names new CEO. Woolworths strike action ‘concerning’: Wesfarmers boss.
Economy grew 0.3 per cent in the September quarter, below expectations of 0.5 per cent and mostly due to government spending. AUD weaker after GDP data. Pro Medicus up after founders’ $500m selldown, broker upgrade. Goodman dives on Citi repricing. UBS wins NZ$1.3bn of Auckland Airport stake sale.
Original URL: https://www.theaustralian.com.au/business/trading-day/page/2