ASX gains on record highs on US markets
Elon Musk becomes $10bn richer overnight, as US gains filter through to the Australian market in trading on Wednesday.
Markets
ASX 200 rises; retailers slip
May retail sales, building approvals higher than expected. ACCC’s interim nod to Armaguard save. Booktopia enters administration. AusSuper’s ‘solid’ returns. APA flags $145m Qenos hit.
Bargain hunters turn out for early sales
The ABS has released its latest data on retail trade and building approvals, and the numbers show a boost for the Aussie economy.
1400 jobs in limbo as mine fire burns
A fire at a major coalmine has caused hundreds of workers to be sent home and their futures are uncertain.
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ASX flat; NAB lifts; Star avoids pay strike
ASX 200 ends up 0.3 per cent at three-week high as Tritium closes Brisbane factory. Top analyst downgrades Nab to Hold. EY cuts 232 from workforce. Citi increases inflation forecasts. NAB profit a slight miss, dividends lift.
Big four bank’s eye-watering cash windfall
Banking giant NAB has reported a handsome increase in cash earnings despite a “challenging” end to the year.
Mortgage pain worsens as banks hike rates
Almost all of the big four banks has announced it would lift interest rates once again in response to the RBA’s Melbourne Cup hike, increasing pressure on homeowners.
ASX rises on tech stock surge
A rally in tech stocks offset losses in mining and energy shares on Tuesday, pushing the benchmark into the green at the closing bell.
ASX up; Optus reboots; pay hit at Magellan
Telstra shares jump, Optus parent Singtel falls. First strike against Magellan. ACCC takes fresh swipe at Qantas. PwC cuts 338 jobs. James Hardie’s record earnings.
Premier threatens to walk away from Optus
One state’s premier has put the embattled telecommunications provider on notice its multimillion-dollar contracts with his government are at risk after Wednesday’s blackout.
Why petrol prices affect your mortgage
The Reserve Bank has slugged homeowners with another rate rise and a recent surge in petrol prices is partly to blame.
Aussies on new coke and meth binge: report
There’s good and bad news in the latest report on drug use in Australia, with one drug on the decline but others on the rise.
ASX sinks following RBA rate hike
Despite the RBA hiking interest rates for the first time in five months, the ASX clawed back some of its earlier losses to finish slightly lower on Tuesday.
RBA hikes rates; bank falls hit ASX
Cash rate at 12-year high of 4.35 per cent. Brookfield-EIG may launch hostile Origin bid; advisory group ISS backs offer. Westpac falls.
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