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Second straight day of highs for ASX

SYDNEY, AAP – Shares have closed at record heights for the second consecutive day on the ASX. Gains for the banks were offset by losses for the big miners and energy providers. The benchmark S&P/ASX200 index closed higher by 7.9 points, or 0.11 per cent, to 7511.1. The All Ordinaries closed up 0.9 points, or…

COVID-19’s impact on NSW: the numbers

SYDNEY, AAP – GREATER SYDNEY’S COVID-19 OUTBREAK: * New locally acquired cases: 262 (up 29 on previous 24-hour period) * Infectious while in the community (partly or fully): At least 72 (up four, with 80 cases still under investigation) * In hotel quarantine: Six (+5) * Total for outbreak (since June 16): 4319 * Total…

Aussie spending trends over 2020/21

Aussie spending trends over 2020/21 Consumer trends What happened? In 2020/21, retail trade rose by 6.1 per cent in real (inflation-adjusted) terms and rose by 9.1 per cent in nominal terms – the latter being the fastest growth in 31 years. We assess some of the extraordinary trends over the past year. Fastest spending growth:…

Females and young workers hit hardest by Sydney lockdown

Females and young workers hit hardest by Sydney lockdown Weekly payroll jobs; International trade What happened? The Bureau of Statistics (ABS) reported that national payroll jobs fell by 2.4 per cent over the fortnight to July 17 but were up 3.3 per cent on a year ago. NSW payroll jobs fell 4.4 per cent with…

Trade surplus tops $10b, payroll jobs drop

CANBERRA, AAP – Australia’s monthly trade surplus topped $10 billion for the first time in June, aided by a surge in exports in the month. However, Australian Bureau of Statistics data also further showed the negative impact COVID-19 lockdowns are having on the economy. The trade surplus for goods and services rose to $10.5 billion…

CommSec Daily Report Thursday

Latest news Aussie shares have recovered from a soft start, with the ASX 200 lifting by 0.15 per cent and hitting fresh record highs for a second straight day in the process. Investors continue to look beyond ongoing lockdowns are in the early part of an eleventh consecutive month of gains. This is despite a…

Aust shares at all-time high, banks gain

SYDNEY, AAP – Shares on the ASX have set a record high despite Wall Street investors earlier worrying about US economic growth. The ASX on Thursday rose to its greatest height, 7517.5 points, although gains were modest by 1200 AEST. Consumer discretionary stocks were the biggest improver and up by 0.84 per cent. The big…

Nick Scali doubles full-year profit

SYDNEY, AAP – Furniture trader Nick Scali has doubled its full-year profit, but will not forecast its next lot of earnings due to coronavirus lockdowns. The company on Thursday revealed net profit after tax of $84.2 million, which bettered its estimate from May of up to $80 million. Sales rose by 42.1 per cent on…

Latest Grange released by Penfolds

ADELAIDE, AAP – Wine producer Penfolds has released its latest Grange with the prestige drop hitting the market amid soaring prices for the earliest versions. The company on Thursday released the 2017 vintage which marks the 67th consecutive year a Grange has been offered and 70 years of continual production. The company said the wine…

Green light on fossil fuel tech, for now

CANBERRA, AAP – The expanded remit of Australia’s green bank sends a positive signal to investors to back critical low emission technologies, industry groups say. But Energy Minister Angus Taylor could face more strife over his bid to spend taxpayer dollars on fossil fuel technology such as carbon capture and storage and hydrogen produced using…