Evening report Monday
A strong rally in the mining sector helped the Aussie market start the week on a bright note, with the ASX 200 up 81.5pts or 1.23 per cent, to 6687.1. Eight sectors finished higher, with resources doing most of the heavy lifting. The materials and energy sectors both posted gains of 2.4 per cent and…
Former Sydney financial adviser sentenced
Keith James Flowers, formerly known as Nigel Flowers, of Bathurst, New South Wales, has been sentenced to three years and two months imprisonment, to be served by way of intensive correction order, and fined $9500 for acting dishonestly as a company director and stealing investor funds. Between 1991 and 2012, Mr Flowers was the founder…
Interbank gold prices lower on Monday
China’s benchmark prices for spot interbank gold transactions were lower Monday, according to the China Foreign Exchange Trade System. The benchmark price for gold of 99.95 percent pure or above stood at 372.02 yuan (about 55.16 U.S. dollars) per gram, down 5.98 yuan from the previous trading day, while that for gold of 99.99 percent…
China’s economy amid headwinds
China’s economy secured positive growth against all the odds in the second quarter and expanded 2.5 percent year on year in the first half of 2022, showing resilience and potential amid headwinds. Due to the increasingly complex, grave situation abroad and Omicron flare-ups at home, major economic indicators fell sharply in April, a rare scene…
Asia’s first professional cargo hub airport put into operation
A Boeing 767-300 cargo plane took off from the Ezhou Huahu Airport in central China’s Hubei Province at 11:36 a.m. Sunday, marking the official start of operations of China’s first professional cargo hub airport. Located in the city of Ezhou, it is also the first professional cargo hub airport in Asia and the fourth of…
CommSec morning report Monday
In US economic data, retail sales rose by 1.0% in June (survey: +0.9%). Industrial production fell by 0.2% in June (survey: +0.1%). Export prices rose by 0.7% in June (survey: +1.2%) with import prices up 0.2% (survey: +0.7%). The preliminary University of Michigan consumer sentiment index was 51.1 in July (survey: 50). The New York…
Toss the coin – What are the odds of an imminent recession?
Well thank goodness for that. We’ve made it past the end of June, and in doing so completed a half year that no investor is likely to want repeated. There have been some brighter spots – the commodity and oil-rich UK stock market has done better than most – but if you’ve kept your head…
Will Cryptocurrencies liberate money from central banks?
The dream that decentralised finance – or “DeFi” – can free the monetary system from the clutches of governments and banks has helped launch 20,000 cryptocurrencies. But with 2022 proving to be more of a crypto-nightmare – including for the vaunted “stablecoins” that held the most promise as rivals to central bank-issued currencies – questions…
Investing “Talk to me Goose”
Slavish adherence to being ‘data driven’ should not be an excuse for avoiding thinking and intuition. The past decade has been vastly more abnormal than normal in the wider lens of history. Using this decade as the basis for future investment settings looks unwise to us. When Maverick clutches the dog tags and whispers the…
Evening report Friday
The Aussie market snapped three straight days of gains after the ASX 200 shed 45 pts or 0.68 per cent, to 6605.6. This comes after a slump in key commodities overnight led to declines across the materials sector. While most sectors declined on Friday, Consumer Staples, Health Care, Utilities and Property Trusts improved. The Health…
