CommSec morning report 24 January 2023
In US economic data, the leading indicator fell 1.0% in December (survey: -0.7%). European share markets rose on Monday with technology stocks driving gains, up 2.3%. Analysts attribute gains to optimism that Europe can avoid a deep recession. Also Reuters noted that hopes for a re-opening of the Chinese economy drove Chinaexposed luxury firms such…
Evening markets report 23 January 2023
The Australian sharemarket has kicked off the holidayshortened week cautiously, with the ASX 200 lifting by just 5.1 pts or 0.07 per cent to 7457.2. This marks the fourth consecutive trading day of gains with the index sitting at a 9-month high. This leaves the market roughly 2 per cent shy of its all-time best…
Queensland leads the nation
Each quarter CommSec attempts to find out which state or territory is Australia’s economic leader. Now in its 14th year, the report also includes a section comparing annual growth rates for the eight key indicators across the states and territories as well as Australia as a whole, enabling comparisons in terms of economic momentum. Overall…
China’s coal-rich province sees coal production increase
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local authorities said on Friday. Last year, Shanxi provided 620 million tonnes of thermal coal for another 24 provincial-level regions in China, according to the provincial statistics bureau. Shanxi accelerated the release of…
CommSec morning report 23 January 2023
In US economic data, existing home sales fell 1.5% in December to a 4.02 million annualised rate (survey: 3.95m) – a 12-year low. European sharemarkets rose on Friday. Travel & leisure rose 1.3% and Retail rose 1.1% on hopes for a re-opening of the Chinese economy from Covid-19 lockdowns. Shares in Ericsson fell 4.7% after…
How can Australian investors profit from China’s reopening?
Three years ago this month, the Chinese government imposed a lockdown in Wuhan and created travel restrictions for every city in the central province of Hubei. It was totally unprecedented at the time, but eventually, ‘lockdown’ became a word all of us became way too familiar with. Now, after a period of mass unrest, Beijing…
Emerging markets debt, a new dawn?
Recent years have called for caution on emerging markets debt, but we now see an increasing number of enticing opportunities. Emerging markets (EM) have recently faced an extremely challenging environment characterised by slowing global growth, geopolitical disruptions, persistent inflationary pressures and a severe tightening in global financial liquidity conditions. Such a global backdrop warranted a…
Evening markets report 20 January 2023
The Australian sharemarket again took a more positive course than US sharemarkets on Friday, supported by optimism on a reopening of the Chinese economy. The S&P/ASX 200 index rose by 17 points or 0.2% to 9-month highs. The ASX 200 rose 1.7% over the week to be up 5.9% in January. In overseas markets on…
ACCC consults on Sika’s proposed divestiture undertaking
The ACCC is seeking views on a proposed court-enforceable divestiture undertaking offered by Sika in relation to its proposed acquisition of MBCC Group. Sika and MBCC Group supply construction chemicals and materials including chemical admixtures, fibres and concrete works. Chemical admixtures are an essential component in the production of concrete and cement, used to chemically…
Record Year For Energy Bill Busting Solar Hot Water
The Andrews Labor Government’s $1.3 billion Solar Homes Program is helping a record number of Victorians save on their energy bills by replacing ageing household water heaters with solar-powered hot water or an energy efficient heat pump. The number of Victorians who claimed the $1000 rebate to replace their hot water systems with solar hot…
