CommSec morning report Tuesday
In US economic data, the Chicago Federal Reserve national activity index lifted from -0.25 points to +0.27 points in July (survey: -0.2 points). European sharemarkets fell on Monday. Investors continued to fret about recession risks. Also there were worries about tightening gas supplies after energy giant Gazprom said that Russia will halt natural gas supplies…
Evening report Monday
The Aussie sharemarket kicked the week off posting its largest decline in over a month, after the ASX 200 lost 67.6 points or 0.95 per cent, to finish at 7046.9. All sectors declined, with the Financial sector losing 1.2 per cent (largest fall since the end of June). Tech shares also slipped 1.5 per cent…
Backing Australia’s critical technologies
The Australian Government is putting Australia at the forefront of critical technologies, opening consultation on how best to harness and manage these in our national interest. Businesses, researchers and the broader community are encouraged to provide feedback on the List of Critical Technologies in the National Interest, to clarify the technologies that the Government considers…
Earnings Season: Half-time report
Earnings season is the time when listed companies report their performance over the past six months or past year. CommSec has been tracking the S&P/ASX 200 companies that have reported earnings for either the fullyear or the half-year to June 30, 2022. We are near the half-way point in earnings season. At the close of…
China’s solar power investment surges
China’s major power generation enterprises saw a surge of investment in solar power projects in the first seven months of this year, official data showed. The investment skyrocketed 304 percent from a year ago to 77.3 billion yuan (about 11.4 billion U.S. dollars) in the January-July period, said the National Energy Administration. These companies’ investment…
ASIC’s priorities for 2022–26
ASIC has released its Corporate Plan, outlining its strategic priorities for the next four years and its plan of action for the year ahead. Chair Joe Longo said, ‘The plan identifies work we have underway to address a number of emerging trends and important law reforms that are reshaping the financial system, including digitally enabled misconduct, emerging…
NEV market to see rapid expansion
China’s new-energy vehicle (NEV) market is expected to expand rapidly during the 2022-2026 period, a report from the global market research firm International Data Corporation (IDC) showed. The country’s NEV market size is forecast to reach 15.98 million units in 2026, with a compound annual growth rate of 35.1 percent during the period, said the…
Safeguarding domestic energy supply
The Australian Domestic Gas Security Mechanism (ADGSM) has been formally extended to 2030, ensuring the Government can use the mechanism to safeguard domestic gas supplies. Resources and Northern Australia Minister Madeleine King on 1 August announced plans to extend the emergency gas measure following public and industry consultations. The mechanism was due to expire on…
CommSec morning report Monday
European sharemarkets closed weaker on Friday in response to new inflation data. German producer prices rose by a record 5.3% in July to be up 37.2% on the year – the biggest jump since 1949. Higher energy prices were the key drivers. Just Eat Takeaway.com rose 25.8% after agreeing to sell 33% stake in Brazil’s…
Why unemployment is set to stay below 5% for years to come
Unfathomably, Australia’s unemployment rate has sunk to 3.5%. Even harder to believe is that it will soon sink lower – perhaps even this week, when the update is released on Thursday – and after that, if the ANZ’s forecasts are correct, dip below the next threshold to two-point-something for the first time since 1974. That…
