Coal, one of Australia’s biggest commodity exports, has surged to record levels as a result of the energy crisis, with the price of Newcastle coal soaring to all-time highs as miners cash in amongst a deepening energy crisis in Europe. The price of thermal coal rose to a new high recently with Newcastle futures trading […]
ASX moves higher, led by coal and lithium: Aus shares up 0.1% Read More »
The ASX started off optimistically on Tuesday, but reversed early gains as investors mulled the Reserve Bank’s latest rate hike, closing down on the day. The RBA’s latest raise of 0.5 of a percentage point continues the central bank’s aggressive policy to try and tackle soaring inflation in Australia. At the closing bell, the S&P/ASX 200
ASX falls post RBA rate hike: Aus shares close 0.4% lower Read More »
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the RBA’s cash rate hike. Key points: The RBA raised the cash rate by 0.5% taking it to 2.35%, as widely expected.This is the fifth rate hike in a row, and the fourth 0.5% hike in a row and brings the total
Australian shares were weaker today, dragged down by mining and energy stocks on weak commodity prices. At the closing bell, the S&P/ASX 200 was 0.16 per cent or 11.50 points lower at 6986.80. Futures The Dow Jones futures are pointing to a rise of 196 points.The S&P 500 futures are pointing to a rise of
ASX closes down, but recovers from morning lows: Aus shares 0.2% lower Read More »
China’s economy continued to stutter in August thanks to a terrible combination of renewed Covid infections across a host of cities, towns and regions; tightened mobility restrictions, and power rationing as a result of the worst heatwaves in decades. The drought and Covid have made for a double whammy in the southwest where the huge
Covid uptick, Heatwave cool Chinese economy Read More »
In contrast to the solid 2021-22 results from rival JB Hi-Fi earlier this month, Harvey Norman (ASX:HVN) revealed on the final day of the reporting season that it suffered a small dip in sales and earnings for the year to June 30. HVN said it saw a 3.6% fall in net profit for the year
Harvey Norman result more the Lo-Fi variety Read More »
Australian-based African gold miner Perseus Mining (ASX:PRU) boosted sales revenue 66% in the year to June 30 to more than $1.12 billion, thanks to higher production and prices and a tight hold on costs. The company said on Wednesday the boost in revenue saw EBITDA from operations jump 86% to $564.1 million from the year
Mining Morsels: PRU, SBM Read More »
Contrasting results from two small industrials involved in the resources sector – one a loss on a contract; the other, a solid profit after a big takeover nearly two years ago. But Southern Cross Electrical (ASX:SXE) and Fleetwood (ASX:FWD) have a couple of major pluses in common – they have a lot of cash on
Bourse Discourse: FWD, SXE Read More »
Stocks fell for a fourth straight day on Wednesday, the last day of August, putting the summer market comeback in doubt as investors weighed the Federal Reserve’s inflation-fighting efforts. The major averages were higher earlier in the day. The Dow Jones Industrial Average slid nearly 0.9 per cent,The S&P 500 lost roughly 0.8 per cent
Second wave of European inflation on its way, as energy crisis sees costs spiral Read More »
By Anthony Aboud and Sean Roger, Perpetual Twelve months ago, the broader Perpetual Australian Equities team had a clear view that we were heading into an inflationary environment and the market was underestimating this trend. Fast forward to August 2022 and it’s a lot more difficult to call where we go from here. And while we
Keep liquid, embrace volatility Read More »
