Wall St rallies on Ukraine-Russia hopes
NEW YORK, RAW – US stocks have risen, with the Dow and S&P notching their fourth straight session of gains, on optimism some progress was being made toward a deal to resolve the conflict between Russia and Ukraine. Russia pledged to cut down on military operations around Kyiv and in northern Ukraine, while Ukraine proposed…
Sixth straight day of gains for ASX
SYDNEY, AAP – Shares have risen to their highest level since mid-January on the ASX and extended their winning streak to a sixth consecutive day. A tech-led rally in the US helped sentiment and the Australian market closed higher by 0.7 per cent, a few hours before the federal budget is due. ASX technology shares…
Asia stock up, oil eases on China lockdown
HONG KONG, RAW – Japanese shares have led gains in Asian stocks as the Bank of Japan defends its ultra-easy stance, while oil has slipped on fears of lower demand from China as Shanghai applied a ‘zero-COVID’ strategy by locking down despite a relatively modest caseload. Japan’s Nikkei gained 0.91 per cent in early trade,…
ASX boosted by budget, Ukraine peace talks
SYDNEY, AAP – Investors have pushed the Australian share market higher the day after the federal budget, while progress in resolving the conflict in Ukraine also helped sentiment. The ASX was higher for a seventh consecutive day after credit rating agencies endorsed a budget cutting fuel excise and giving $8.6 billion in cost-of-living measures for…
Ukraine adds to uncertainty of future gas
CANBERRA, AAP – Gas is expected to play a critical role for the generation of electricity as the grid weans itself off coal. But the Ukraine conflict is adding to short-term uncertainty on LNG supply and longer-term needs are becoming less clear, the Australian Energy Market Operator says in its annual gas update. The federal…
Budget promises fail to lift confidence
CANBERRA, AAP – Promises to assist households facing cost of living pressures in the federal budget have failed to lift the mood of Australians as they fret over the inflation outlook. Treasurer Josh Frydenberg will hand down his fourth budget on Tuesday night, days out from the start of an election campaign. The weekly ANZ-Roy…
Employers urged to embrace hybrid working
CANBERRA, AAP – Businesses should forget trying to return to “normal” and allow their employees to work from both home and office, one executive says. Telstra group executive for transformation, communications and people Alex Badenoch will tell business leaders “we don’t waste time debating who should be in the office and when”. In a speech…
Tesla leads as S&P 500 climbs again
NEW YORK, RAW – The S&P 500 has risen for a third day, as a sharp climb in shares of Tesla overshadowed weakness in energy and bank stocks, while Russia and Ukraine were poised to hold their first face-to-face peace talks in more than two weeks. Electric-car maker Tesla jumped 8.03 per cent and was…
ASX gains capped by rising bond yields
SYDNEY, AAP – Australia’s share market struggled to move higher as expectations of increased interest rates made bond yields more attractive than equities. The ASX was half a per cent higher for much of Monday but the indices tumbled late in the trading day. The Australian government 10-year bond yield rose to 2.87 per cent…
Low-emissions tech sector eyes tax break
CANBERRA, AAP – Developers of low-emissions technologies and other innovators may win tax breaks in the upcoming budget after months of lobbying. The aim is to attract investment and avoid a brain drain by encouraging businesses to do their R&D in Australia and keep intellectual property here. The “patent box” arrangements for medical and biotechnology…
