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Adairs shares rise on strong HY sales

Shares in homewares retailer Adairs have surged on strong first half sales, an increased dividend, and high hopes around the handy acquisition of NZ-based Mocka in December. Adairs shares were trading 8.54 per cent higher at $2.605 at 1350 AEDT – the highest price in nearly 18 months – after it lifted total revenue by…

Tourism, education to cop worst virus hit

The Australian economy will continue to feel the effects of the coronavirus over the next six months, with China-facing education and tourism sectors to weigh particularly heavily on GDP. AMP Capital senior economist Diana Mousina said the Australian economy was looking at an overall hit of about 0.5 or 0.6 per cent from the coronavirus,…

Australian stocks slightly lower at noon

Australian shares were treading water just below record highs at noon on Friday after US markets soured following a rise in coronavirus cases. The benchmark S&P/ASX200 index of the 200 biggest companies by market capitalisation was down 13.5 points, or 0.019 per cent, at 7149 at noon AEDT on Friday, with most sectors in the…

Trump savouring scrambled Dem race

Relishing in the Democrats’ jumbled primary after a fractious debate, US President Donald Trump has offered stinging criticism of his rivals as he sought to take advantage of the moment. Making a rare four-day swing through the West, Trump was exuding re-election confidence on Thursday at a campaign rally in Colorado, after taking in the…

CommSec Daily Report

Latest news Aussie shares are slipping for the first time in three days and easing from Thursday’s record highs, with the ASX 200 down by 15pts or 0.2 per cent to 7,149.1. Despite the losses, the local market is still up by around 7 per cent this calendar year in spite of the coronavirus concerns….

Turnbull paints picture of his leadership

Malcolm Turnbull will give his side of how his prime ministership was cut short with a book launch in Canberra in April. The National Press Club describes Mr Turnbull’s autobiography, A Bigger Picture, as “exceptionally candid and compelling”, and has billed his speech as a must-see for political junkies. The launch on April 23 will…

US dollar, bonds get safe-haven rush

Asian shares were cast adrift on Friday as fears over the creeping spread of the coronavirus sent funds fleeing to the sheltered shores of US assets, lifting the dollar to three-year highs. Even Wall Street turned south late on Thursday on reports of increased infections in Beijing, and as the virus spread in South Korea…

ACCC green light for Mengniu’s Lion buyout

The ACCC will not stand in the way of the $600 million bid by China Mengniu Dairy for Lion’s Dairy and Drinks portfolio, which includes the Dairy Farmers, Pura, Dare and Farmers Union iced coffee brands. The competition watchdog on Friday said Mengniu’s proposal to acquire Lion’s raw milk processing facilities in Australia would not…

NT RAAF base set for $1.1 billion upgrade

The Morrison government will spend $1.1 billion upgrading the NT’s Tindal airbase to accelerate the F-35 Joint Strike Fighter rollout and boost military ties with the United States. The improvements will include major runway extensions, fuel stockpiles and engineering to support large aircraft, like US Air Force B-52 strategic bombers and RAAF KC-30 air-to-air refuellers….

Gold climbs as virus impacts global growth

Gold prices climbed to their highest level in seven years overnight as an uptick in the number of coronavirus cases in South Korea fuelled worries over the wider economic impact of the outbreak. Spot gold rose 0.44 per cent to $US1,618.38 per ounce after hitting its highest level since February 2013 at $US1,623.45. US gold…