Australian Mines fined $450,000
Australian Mines Limited (ASX: AUZ) has been handed a $450,000 penalty by the Federal Court for breaching its continuous disclosure obligations on three occasions. The penalty comes after Australian Mines sought early resolution of ASIC’s proceedings and admitted that it failed in its obligation to disclose material information to the market when it: failed to…
CommSec morning report 16 January 2023
In US economic data, export prices fell by 2.6% in December (survey: -0.5%). Annual growth of export prices fell from 6.3% to 5.0% in December. Import prices rose by 0.4% in December (survey: -0.9%), with the annual growth rate rising from 2.7% to 3.5%. The University of Michigan consumer sentiment index rose from 59.7 to…
Stamp duty isn’t going anywhere
Nearly all economists and most politicians seem to agree stamp duty is a bad tax. But nearly all state and territory governments rely on it to keep the lights on. It’s a bad tax because it taxes homeowners every time they move, merely because they have moved. At A$40,000 per move on a median-priced home…
Back in bonds
With fixed income now standing out to us as offering good absolute and relative value, and the cycle potentially turning in favour of bonds, we are confident 2023 will look significantly different for this asset class. The last 12 months have delivered the worst returns for fixed income in decades – worse than the famed…
Has the peak in official rates been reached?
With increasing signs that inflation has peaked and will ease in 2023, the peak in official interest rates in the US and Australia looks to have been priced by markets with only one or two rate hikes remaining. After a tumultuous 2022 we move into 2023 with the possibility that inflation starts rolling over, which…
Evening markets report 13 January 2023
The Australian share market has risen for the seventh time in eight sessions. The S&P/ASX 200 index rose by 47.7 points or 0.7% to six-week highs. The ASX 200 has now lifted by 4.1% in January, more than offsetting the 3.4% loss recorded in December. In overseas markets on Thursday investors celebrated data that showed…
Backing research centres to boost economic output
Minister for Industry and Science Ed Husic today announced that Round 24 of the Cooperative Research Centre (CRC) grants program had opened for application. CRC grants provide funding for industry-led research centres that can transform Australian know-how into practical outcomes for Australian businesses. The grants can support industry-led collaborative research centres of up to 10…
8 pearls of wisdom for investors
There’s a lot of investment guidance out there. Too much can be overwhelming. So, how can you cut through the noise and find what you need? To help you out, we’ve put together a cut out and keep 8-step guide to successful investing. The list includes tips on how to manage your portfolio effectively –…
China’s auto exports surge 54%
China’s automobile exports soared 54.4 percent in 2022, effectively promoting the overall growth of the sector, industry data shows. More than 3.11 million vehicles were exported last year, with passenger car exports nearing 2.53 million units, a jump of 56.7 percent year on year, according to the China Association of Automobile Manufacturers. In the same…
CommSec morning report 13 January 2023
In US economic data, the consumer price index (CPI) fell 0.1% in December (survey: -0.1%), the first decline since May 2020. Annual growth eased from 7.1% to 6.5% in December (survey: +6.5%). The core CPI (ex-food and energy) rose 0.3% in December (survey: +0.3%). Annual growth of the core CPI fell from 6% to 5.7%…
