ASIC places stop order on PDS and advertisements
ASIC has made an interim stop order preventing Fawkner Property Ltd (Fawkner) from issuing or transferring interests in Private Property Trust No. 20 (marketed as Essential Services Trust No. 20) (the Fund), because of misleading or deceptive statements in the Fund’s marketing and disclosure. Fawkner is the responsible entity of the Fund. The order stops Fawkner…
CommSec morning report Tuesday
In US economic data, ISM manufacturing index fell from 53 to 52.8 in July (survey: 52). the S&P Global manufacturing purchasing managers index fell from 52.7 to 52.2 in July (survey: 52.3). Construction spending fell by 1.1% in June (survey: +0.2%). European sharemarkets eased on Monday. The euro zone manufacturing purchasing managers index contracted in…
Evening report Monday
Following a strong end to the week in the US on Friday, the Australian sharemarket has lifted for a fifth straight day, with the ASX 200 up by 47.8 pts or 0.69 per cent to 6993 – around session highs. This is the market’s longest winning streak since April. Eight sectors and 110 stocks finished…
Evening report Tuesday
Following a widely expected increase in the cash rate, the Australian sharemarket clawed back a 0.69 per cent loss and secured its sixth straight gain, with the ASX 200 up 5.1pts or 0.07 per cent, to 6998.1. This is the longest winning streak since late March. Financial stocks (up 0.77 per cent) did much of…
Consultations open to strengthen Australian Domestic Gas Security
Resources and Northern Australia Minister Madeleine King has opened consultations on ways to improve the operations of the Australian Domestic Gas Security Mechanism (ADGSM) to strengthen Australia’s domestic energy supply, and released a discussion paper on the reform options. Minister King has also announced the start of consultations with gas producers on a new Heads…
New mail shipping route launched between China and Australia
A new mail shipping route has been launched between Shenyang, capital of northeast China’s Liaoning Province, and Sydney in Australia, to meet the demand for international mail and cross-border e-commerce. On Thursday, a consignment of parcels left Shenyang for Liaoning’s port city of Dalian, from where it will be shipped to Sydney via sea, marking…
China’s dairy industry output up
China’s major dairy producers registered output growth in the first half of this year, official data showed. In the January-June period, major dairy producers saw their output rise 1 percent year on year to nearly 15.11 million tonnes, according to data from the Ministry of Industry and Information Technology. In June alone, dairy production stood…
LNG exporters must divert gas to the domestic market
The ACCC’s July 2022 Interim gas report, released today, forecasts the east coast of Australia could face a shortfall of 56 PJ in 2023. At the same time last year, our Gas Inquiry interim report found 2022 could face a 2PJ shortfall. “Our latest gas report finds that the outlook for the east coast gas market…
ASIC suspends licence of Alice Springs financial service provider
ASIC has suspended the Australian financial services (AFS) licence of Alice Springs-based financial services provider HJ Shortland & Co Wealth Management Pty Ltd (HJ Shortland & Co) for a period of six months effective 20 June 2022. The licence was suspended because HJ Shortland & Co has ceased to carry on a financial services business. …
CommSec morning report Monday
In US economic data, personal income rose 0.6% in June (survey: +0.5%) with spending up 1.1% (survey +0.9%). The core (excludes food and energy) personal consumption deflator (inflation measure) rose 0.6% to be up 4.8% over the year to June (survey +4.7%). The Chicago purchasing managers index fell from 56 to 52.1 in July (survey:…
