CommSec morning report Mon 21 November
In US economic data, existing home sales fell from a 4.71 million annualised pace in September to 4.43m in October (survey: 4.38m). The leading index fell 0.8% in October (survey -0.4%) European sharemarkets were firmer on Thursday. Autos rose 2.1% with retailers up 0.8%. Shares in Austrian hydropower producer Verbund and energy and environmental services…
Can super secure women’s future?
Here are some stark numbers on the difference between men and women at the point when they retire: 80% of women are retiring without the super balance they need to fund a comfortable lifestyle. On retirement, women’s average superannuation account balance is around $70,000 less than men.[1] To be balanced, we should remember there are…
Equities Outlook 2023 – Market uncertainty to remain high
We expect a high degree of volatility and uncertainty for global equities in 2023, as stubbornly high inflation and interest rate rises lead to a rough landing for large parts of the global economy. However, earnings expectations are diverging across different economies, allowing investors to capitalise on select opportunities. Markets continue to expect central banks (led by the Fed)…
Deliveroo exiting the gig economy
Deliveroo’s decision to quit the Australian market, after what have been boom times for food delivery platforms, may seem surprising. But the writing has been on the wall for some time. The British-based platform – one of the first to start operating in Australia – announced yesterday it was going into voluntary administration. It cited…
What drumbeat will different assets march to in 2023?
The conventional wisdom about trying to time the market is that you shouldn’t. Catching the tops and bottoms with any degree of accuracy or consistency is near impossible and the cost of getting it wrong can take a heavy mental as well as financial toll. But there is a difference between an all-in, all-out approach…
Evening Markets Report Fri 18 November
Latest News The Aussie sharemarket closed higher, as the ASX 200 rose 16.1pts or 0.23 per cent to 7151.8. Seven (of 11) sectors finished in positive territory while the energy sector weighed. In weekly terms however the local market snapped three straight weeks of gains to close 0.1 per cent lower. Pendal Group (PDL) finished…
Gascoyne horticulture expansion to grow from water agreement
McGowan Government signs agreement with Gascoyne Water Cooperative to underpin horticulture expansion at Carnarvon Long running Gascoyne Food Bowl initiative supporting regional growth and jobs Irrigated agriculture expansion in the Gascoyne moved forward today with the McGowan Government taking steps to guarantee a reliable, high quality water supply to new and existing growers at Carnarvon….
$905 million taxi licence assistance deal passes
The NSW Government’s Point to Point Transport (Taxis and Hire Vehicles) Amendment Bill 2022 has passed Parliament, guaranteeing taxi licence holders an additional $760 million in financial assistance from early next year, taking the combined package value to $905 million. Minister for Transport, Veterans and Western Sydney David Elliott said the Government can now complete…
Rising coal storage amid supply push
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy regulator said Monday. Storage of coal at the country’s power plants has been above 170 million tonnes since September, according to the National Energy Administration. Faced with a grave and complex international energy situation, China has…
SmileDirectClub to pay $3.5m for misleading claims
The Federal Court has ordered SmileDirectClub Aus Pty Ltd and its US parent company, SmileDirectClub LLC (together SmileDirectClub), to pay penalties totalling $3.5 million and to compensate customers, after court action by the ACCC. SmileDirectClub admitted that between May 2019 and October 2020, it made false or misleading statements to consumers on its website and…
