Evening Markets Report – 14th February 2023
The Australian sharemarket snapped three days of losses on Tuesday, following a strong start to the week on Wall Street. The S&P/ASX 200 index advanced by 13 points or 0.2 per cent to close at 7430.9 points. In overseas markets on Monday, key indexes in the US rose with the Dow and the S&P 500…
Evening Markets Repost – 13th February 2023
The Australian sharemarket started the week in negative territory on Monday, extending last weeks losses. The S&P/ASX 200 index fell by 16 points or 0.2 per cent following a mixed lead from Wall Street on Friday. In overseas markets on Friday, key indexes in the US were mixed with the Dow and the S&P 500…
Evening Markets Report – 10th February 2023
The Australian sharemarket again followed the lead of Wall Street and ended lower on Friday. The S&P/ASX 200 index fell by 57 points or 0.8%. The All Ordinaries index fell by 65 points or 0.8%. Over the week the ASX200 fell by 1.6% – the first fall in six weeks. In overseas markets on Thursday,…
Evening Markets Report – 9th February 2023
The Australian share market followed the lead of Wall Street and ended lower on Thursday. The S&P/ASX 200 index fell by 40 points or 0.5 per cent. The All Ordinaries index fell by 45 points or 0.6 per cent. Despite the decline, the ASX 200 is only 1.8 per cent short of record highs. In…
Medibank cyber incident sees class action
Australian health insurance company Medibank is in some new potential trouble. Apparently, they had a little cybercrime issue last year where a hacker got into their system and accessed the personal information of 10 million of their current and former customers. Yikes! That’s a lot of sensitive information out there in the world. Medibank class…
Evening markets report 7 February 2023
The Australian share market had a volatile trading session ahead of the Reserve Bank’s first interest rate decision of the year at 2:30pm AEDT. Following the announcement of a 25 basis point rate hike, the S&P/ASX 200 index quickly shed around 50 points from its intraday high, closing at 7504.1 points, down 0.46 per cent….
RBA raises cash rate by 25 basis points
Big news today is that the RBA board made some important decisions about the state of our economy. Basically, they decided to raise the target cash rate and interest rate on Exchange Settlement balances. I know, I know, the thought of “interest rates” and “monetary policy” might sound boring, but trust me, it has a…
Bringing back public owned power
The Andrews Labor Government is working to bring renewable energy back under government control and put power back in the hands of Victorians. To achieve this, they have appointed an Expert Advisory Panel to guide the newly revived State Electricity Commission (SEC). The goal of the panel is to make sure the SEC provides the…
China’s bourses launch bond market-making businesses
China’s bourses on Monday launched the bond market-making businesses of 12 securities firms. The 12 market makers are Essence Securities, Orient Securities, Guotai Junan Securities, Guosen Securities, Huatai Securities, Shenwan Hongyuan Securities, China Galaxy Securities, China Merchants Securities, China Securities, CITIC Securities, Caitong Securities, and Sinolink Securities. The Shanghai Stock Exchange said that in January…
$16.9 billion offer for Australia’s top gold miner
Australia’s leading gold miner Newcrest Mining Ltd is exploring the possibility of a takeover offer from American gold mining giant Newmont Corp. This all-share deal would bring together both companies’ operations in Canada and Australia, creating a powerhouse in the gold mining industry. Newcrest is currently seeking a new CEO, as former CEO Sandeep Biswas…
