The market closed broadly flat, with seven of the 11 sectors in the black. Perpetual’s forgettable day after KKR deal triggers calls for chair to exit with outgoing CEO. Analyst downgrades hit Imdex. IPH bids for Adamantem-target Qantm.
RBA board considered a rate hike, ‘not ruling anything in or out’. Inquiry wants steps to combat supermarket giants’ power. Earnings upgrade lifts AGL. ANZ profit down, $2bn buyback ahead. Sims tanks.
Australia’s sharemarket rose for a third day running, tracking the US market to its highest daily close in almost two weeks, after cooling non-farm payrolls data gave hope of a soft economic landing with interest rate cuts.
Bourse has best weekly gain in five weeks, up 0.7 per cent. McDonald’s Australia annual sales up 7 per cent. Wesfarmers hits record high. Path to low inflation ‘not yet’ secure: ex-RBA boss. Macquarie falls. Block jumps.
Major banks gain after NAB results, buyback. Pexa jumps on NatWest deal. Investors dump Bapcor after profit warning. Woolworths sales disappoint, boss says Coles ‘out-traded us’. US investigation hits Block.
Rabobank sees two RBA rate hikes in 2024. Qantas rules out app cyber breach. Amcor up on results beat. Endeavour falls after Woolworths selldown. Inquiry head criticises Star’s slow reform.
The sharemarket extended its gains, closing up 0.4 per cent. Origin, NSW in talks to extend Eraring by four years. CBA pushes back rate cut call. Weak retail data hits Aussie dollar. ASIC sues Magnis and chair. Worley falls.
Share market rises on US futures gains. Crown Resorts job cuts. WA nickel mine closure. Lawyers claims Super Retail board knew of CEO affair. New Star chair says David Foster ‘had to go’.
The local sharemarket closed down 1.4 per cent on Friday. Anglo American rejected BHP’s takeover bid. Scott Farquhar stepping down as Atlassian co-CEO. Super Retail Group faces $30m-$50m workplace claim.
Richard Goyder survives as Woodside chair but investors reject climate plan. Westpac, AMP, Citi and UBS push back rate cut timing after CPI data. Kogan dives. Star ex-CEO felt ‘under attack’ from NICC.
Chair says Star may need further supervision by regulator. Crown Sydney granted full gaming licence. Brambles falls amid ongoing inventory, price strain. Ramsay Health Care lifts on Wesfarmers ‘interest’.
Market finishes in the black. Star ex-CEO Robbie Cooke recalls ex-lawyer to inquiry. Coal standout in South32’s mixed quarterly update. Eneco founder’s market manipulation sentence. ATO rues PwC failure to take tax leaks seriously.
Asian equity markets rattled by escalating Middle East tensions. AUD around US64c. Gold and oil rise. ASX 200 down 2.8 per cent this week. Star inquiry ends with allegations of ‘misleading’ regulators.
For stocks and bonds, 2024 is in some ways shaping up like 2023, which begs the question: has the market stopped listening to Fed chair Jerome Powell?
Bullish sentiment is not quite at ‘close-your-eyes-and-sell’ levels but global fund manager optimism has hit its highest level in years.
Stock markets are ‘disconnected’ as they remain at near record highs despite surging bond yields and the outlook for interest rates and geopolitics is starting to hit market sentiment, a top strategist warns as the Australian market has its worst two-day fall in six months.
Amid an uneasy calm, global financial markets await Israel’s response to Iran’s unprecedented drone and missile strike. Also today: Star falls; ASIC executive changes.
Atlassian billionaire Scott Farquhar kingmaker in Genex takeover by J-Power. Forrest vows to push ahead on Meta fight after DPP blow. ‘Enhanced bid’ paves way for Seven to take control of Boral. Star falls.
As US inflation proves even stickier than expected it’s increasingly likely the Fed won’t cut interest rates any time soon | Also today: ASX 200 trims sharp falls, Star down.
Collins St Asset Management says a valuation gap with gold miners is set to close rapidly, potentially within months. Also today: EY prepares to announce layoffs. RBNZ holds rates. Dubber sacks CEO.
Buy copper now or pay the price of cost increases and missed opportunities in a new secular bull market, Citi says. Also today: Guzman y Gomez’s $134.5m raise. Analyst upgrades boost Ansell and Elders.
Extend grocery code to Amazon, Costco: Woolworths. APM, Elders in profit warnings. Beach dives on Waitsia cost blowout. Platinum’s $527m net outflows. Ex-NAB boss Andrew Thorburn joins HammondCare.
ASX 200 falls 1.6 per cent this week. Iron ore futures fall. GQG rises as funds soar. APM extends trading halt ahead of new bid. Magellan’s outflows up. Oil above $US90 as geopolitical tensions rise.
Westfield owner Scentre gets first strike over pay report. Household spending rises. Building approvals fall. Rio Tinto AGM tonight as faces possible Norway fund sale. Seven’s Boral bid not fair or reasonable: independent expert.
ASX 200’s worst day in three weeks. WiseTech drop leads tech falls. Ramelius lifts on record 3Q gold output. Brookfield-Singtel talks on Optus stake end: DataRoom. Rio takes charge of Ranger rehab.
Inflation ‘high’ but returning to target: RBA minutes. Austal gains on Hanwha takeover talks. Mesoblast surge continues. Orora slumps on earnings, Saverglass downgrades. Brickworks CEO’s 25-year reign ends.
Beach Energy flags post-Easter reset with most of the current leadership team leaving. Excluding Swift effect, underlying February retail sales flat. Ramelius ends takeover talks, shares rise.
Sharemarket has strong push pre-close. Southern Cross Media chair quits over shareholder push. Inflation up 3.4 per cent in 12 months to February. CVC cans $1.8bn APM bid. National Storage board changes after probe.
Iron ore futures fall. Mesoblast up 45 per cent as seeks US FDA nod. Investors welcome Premier’s profit beat, demergers plan. 29Metals tumbles as suspends copper mine. Crown ‘suitable’ for licence.
MMA Offshore agrees to Singapore bid. Crown to learn licence fate tomorrow. Knight Frank, Bayleys to buy McGrath. Star in seesaw session. Eureka rejects Aspen bid. Perseus wins OreCorp race.
Original URL: https://www.theaustralian.com.au/business/trading-day/page/9