Property giants lift on ‘cheaper debt outlook’. Woodside, Santos down despite oil price spike. Origin flat after abandoning hydrogen plans. Sell rating weighs on ‘overly ambitious’ Guzman y Gomez. IMF backs RBA’s tight stance.
An industry-first agreement will look to protect one Australian fund’s workers in the age of ChatGPT with a new “gold standard”.
The Australian sharemarket slipped on Wednesday as investors braced for a broader war in the Middle East.
Oil, gold stocks jump on Middle East conflict escalation. Jobs to go in Country Road restructure. SiteMinder insider’s $85.4m selldown. Kennett to retire after juice company merger. CEO changes at Collins Foods, KMD. CBA shuffles top deck.
Sigma rockets on ACCC compromise to get $8.8bn merger with Chemist Warehouse across the line. Treasury Wine caves in to proxy demand on CEO bonus. Warmest August since 1910 sees retail sales lift 0.7 per cent.
The Australian sharemarket retreated from record highs on Tuesday on a sharp sell-off in the mining sector.
August retail sales data due as house prices tick up. Qatar Airways to buy stake in Virgin. Star auditors raise red flags. US Fed chair strikes upbeat note on the US economy. Chinese stocks mark best day in 16 years.
The Australian sharemarket notched a fresh record high on Monday on the back of a mammoth rally in iron ore prices.
BHP and Rio lead iron ore gains as billionaire-run Fortescue and MinRes also lift. Richard White’s WiseTech up after founder’s $46m selldown. Star hit with downgrades. Key Pacific Smiles shareholders reject Genesis bid. AUD above US69c.
Woolies and Coles have copped heat on various fronts, including being sued by the ACCC, and now a class action lawyer says this should happen.
The Aussie share market managed to remain fairly flat as some sectors, especially materials, ended the week strong.
The ASX 200 index closed flat after a choppy session at 8212.20 points as banking and healthcare falls offset strong gains among the miners.
A corporate giant has copped a $14m fine for misleading customers over prices.
The Australian sharemarket snapped a three-day losing streak on Thursday in a frothy rebound propelled by consumer stocks.
Star trims statutory loss to $1.69bn as earnings, underlying profit take a hit. Cettire drops on analyst downgrade. Brickworks lifts on underlying profit beat. Step One insiders’ near-$32m selldown weighs. Platinum rebuffs Regal takeover.
As banks disappear from Australian country towns, crypto ATMs are proving popular in spots you may not expect.
The OECD says the world economy is “turning a corner” on inflation and offers a bullish read on Australia’s outlook for 2025.
The OECD says the world economy is “turning a corner” on inflation and offers a bullish read on Australia’s outlook for 2025.
Inflation is coming down but experts are warning it isn’t yet time for Aussies to pop the champagne bottles to celebrate a rate cut.
The Aussie sharemarket dipped lower on Wednesday as bank stocks tumbled.
August CPI cools to 2.7pc – lowest level since 2021 – on government subsidies. Analysts warn RBA ‘risks prolonged subpar growth’ with its tight policy. Chinese stimulus triggers switch to miners. Premier, Sigma and KMD fall on earnings updates.
The sharemarket dipped lower on Tuesday as the RBA delivered some hawkish rhetoric on interest rates, even as the miners boomed on fresh Chinese support.
China’s housing stimulus measures trigger investor rush from banks to miners. Economic outlook ‘remains uncertain’: RBA. Supermarket giants Coles and Woolworths still reeling from legal action. Cettire soars on earnings audit.
Aussies love supporting homegrown products, but one mum warns that the widely recognised “Australian Made” logo is not what it seems.
The Australian sharemarket tumbled on Monday as supermarket giants Coles and Woolworths retreated on the ACCC’s bombshell legal move.
The Australian sharemarket advanced for a 10th consecutive session on Thursday, marking the longest rally in stocks since 2015.
Weak guidance weighs on Megaport. Collins Foods’ first-half earnings warning. Dividend surprise lifts Northern Star. Super Retail hits record high on special dividend amid scandal. Richard White adds $1bn more to his coffers.
Making $100,000 a year used to be a kind of salary holy grail for a lot of Aussies, but the country’s cost-of-living crisis has changed that completely.
One of Australia’s richest people became $2.1bn better off on Wednesday as his tech firm led the Australian share market.
Energy sector dips while tech stocks soar. Santos, Corporate Travel, IAG, Domino’s down earnings miss expectations. Brambles’ $500m buyback wins over investors. New CEOs at Perpetual, Atlas Arteria as PEXA search begins. WiseTech hits record.
The solar farm is expected to cost billions in taxpayer funds, however, most of the power won’t be going to Australian homes.
The Australian economy is growing at its slowest rate since a sharp recession in the early 1990s and it’s particularly bad news for white-collar workers.
Australia’s biggest mining company is reportedly looking at Indonesia’s nickel industry following the shut down of its vast nickel operations in Australia.
A major commercial property player has taken a huge financial hit, as negativity around iron ore leaves room for investors to pounce.
Inflation will be ‘slow to decline’: RBA minutes. Dexus sinks on FY25 distribution warning. Ansell’s result better than expected. Judo tops expectations. Reliance results ‘operationally strong’. Yancoal slumps on weak first-half. Baby Bunting, Monadelphous gain.
Chinese manufacturing, and it turns out Chinese babies, have left their mark on the ASX on Monday despite the market closing up.
Mixed reactions to Westpac update. BlueScope falls on FY24 profit drop. A2 Milk plummets on missed expectations. Lendlease losses grow. Australian Vintage, SkyCity flag impairments. Reece tanks on near-term challenges.
The Treasury is monitoring falling iron ore prices, as it warns continued struggle could result in a $3 billion dent in the Australian economy.
With the rising cost of living stretching budgets further than ever, cost-conscious Aussies are cutting back. It’s left one key industry in a battle to survive.
Steadfast on not cutting rates anytime soon, the RBA governor’s comments have done little to dampen the mood on the ASX on Friday.
ASX 200 soars to two-week high after strong US gains. RBA boss says no rate cuts likely in the near term. ASX Ltd dips amid calls for chair exit. Banks rise on positive signs for net interest margins. Dispute settlement lifts Synlait, A2M. PWR Holdings dives.
Shocking claims about the controversial CFMEU have been made at a hearing into Australia’s cost-of-living crisis.
Serious concerns from steel makers in China and big drops in key energy and medical stocks weighed on the ASX Thursday.
AUD rises on ‘quite tight’ jobs market. Cochlear, Origin sink on profit miss . Telstra rises despite profit fall. Treasury Wine lifts on China boost. Goodman dips on mixed results. Nufarm tumbles on earnings downgrade.
Profits at Australia’s biggest telco have been slashed 13 per cent, but Telstra is still getting value from one particular pursuit.
The latest employment figures beat expectations, with the Australian economy adding tens of thousands of new jobs.
Australia’s biggest bank has just delivered some heartening news for struggling mortgage holders.
Australia’s corporate watchdog sparked alarm in the markets after it announced court action against the ASX over alleged misleading statements.
RBNZ begins easing with first rate cut since 2020. ASIC sues ASX over CHESS statements. APRA orders review into CFMEU-linked super funds. CBA profits slip. Seven Group underlying profit jumps, Seven West Media earnings sink.
Commonwealth Bank has revealed loan arrears are on the rise, as it posts a $9.48bn statutory profit for the full year.
Original URL: https://www.themercury.com.au/business/markets