CommSec morning report Wed 23 November
In US economic data, Redbook chain store sales rose by 7.5% in the past week compared with a year ago (prior week: +6.8%). The Richmond Federal Reserve manufacturing index rose from -10 to -9 in November (survey: -8). And the Richmond Federal Reserve services index lifted from -8 to -2 in November (survey: +3). European…
Evening markets report Tues 22 November
The Australian sharemarket closed at fresh 5-month highs despite the negative lead from Wall St overnight and concerns with surging Covid-19 cases in China. The benchmark ASX 200 index added 42 points or 0.6 per cent to 7181.3. Only three (of 11) sectors lost ground. The energy sector was the best performer, bouncing back from…
Major shale gas field sees record-high output
China’s largest shale gas field, had seen a record-high output of natural gas this year as of Sunday, said its developer Sinopec. The field in southwest China’s Chongqing has produced around 6.4 billion cubic meters of natural gas in 2022 to date, up 0.5 percent year on year, said the company. Over ten production and…
Renewable diesel to fuel major projects
In an Australian first, cranes powered by 100% renewable diesel will take to the skies on two key NSW Government projects – the Powerhouse Parramatta and the new Sydney Fish Market. Minister for Infrastructure, Cities and Active Transport Rob Stokes said the NSW construction industry is leading the charge to reduce reliance on fossil fuels….
Financial Street Forum annual conference opens in Beijing
The Annual Conference of Financial Street Forum 2022 opened in Beijing on Monday. The three-day event with the theme “Forge Ahead Toward a Shared Future: Economic Development and Financial Cooperation Amid Changes” is being held in downtown Financial Street. It will include one main forum and four parallel forums on the real economy and financial…
Lithium driving job-creating global green energy future
Greenbushes Lithium Operation delivering record production and creating local jobs Highest grade and one of the world’s largest hard rock deposits of lithium spodumene WA producing lithium hydroxide and is expected to start exporting it later in 2022 Construction underway with further plans in place to expand existing mine together with ongoing exploration to create…
Interim stop orders placed on MPG Funds Management Limited
ASIC has made interim stop orders preventing MPG Funds Management Limited (MPG) from offering or distributing two trusts to retail investors because of deficient target market determinations (TMDs). These trusts are: MPG Bulky Goods Retail Trust; and MPG Essential Services Property Trust (together, the Trusts). The interim orders stop MPG from issuing interests in, giving…
CommSec morning report Tues 22 November
In US economic data, the Chicago Federal Reserve national activity index fell from +0.17 to -0.05 in October (survey: flat). European sharemarkets edged lower on Monday. Gains in defensive food and beverage (+1.2%) and healthcare companies (+1.0%) were offset by declines in energy (-2.8%) and basic resources (-1.6%) stocks on worries about the impact of…
Evening markets report Mon 21 November
The Australian sharemarket started the week on a negative note with the ASX 200 index losing 12.5pts or 0.17 percent to 7139.3. The market got off to a positive start but faded on the back of US futures turning negative. Four (of 11) sectors lost ground. Materials and energy sectors weighed most as Covid-19 cases…
New help for grain growers to cut emissions and capture markets
New greenhouse gas calculation resource to help growers reduce on-farm emissions and respond to market signals McGowan Government striving to achieve net zero emissions for WA by 2050 A new industry-specific data set to help Western Australian grain growers reduce on-farm greenhouse gas emissions and build more sustainable businesses was launched today by the McGowan…
