All news

Rare Holden Torana expected to fetch $1m

ADELAIDE, AAP – A rare 1977 Holden Torana A9X, originally destined for the racetrack, is about to go under the hammer with bidding expected around $1 million. The two-door hatchback was essentially one of just 33 produced by Holden and is considered one of Australia’s most sort-after muscle cars. “This is the holy grail of…

Aust market falls on move to tech stocks

SYDNEY, AAP – Technology stocks are back in favour on the ASX but the trend has come at a cost to the market indices. Investors sold shares in most industry groups on Wednesday and pushed up technology shares by 1.1 per cent. Market heavyweight CSL lost 2.09 per cent to $294.25 and the big four…

Rate talk grows as economy strengthens

CANBERRA, AAP – Australia’s recovery marches on with the economy posting its biggest monthly trade surplus on record and skilled vacancies striking their highest level in well over a decade, pointing to a further fall in the jobless rate. But there is little sign at this stage of the Reserve Bank of Australia changing its…

Inflation: Alert but not alarmed

Inflation: Alert but not alarmed Purchasing manager survey; Skilled vacancies; International trade What happened? Price pressures eased slightly in the latest surveys of purchasing managers. Implications: Investors must remain alert to inflation indicators. Clearly the outlook for inflation and interest rates and Covid-19 are the dominating concerns on global sharemarkets. Other data of note: Skilled…

Childcare not women’s issue for coalition

CANBERRA, AAP – Access to affordable, quality early childhood education and care is a concern for families, not just women, according to a senior Liberal. “We seem to have an issue in this country when talking about childcare that we automatically go to ‘this is a woman’s issue’ and it is not,” Liberal senator Hollie…

CommSec Daily Report Wednesday

Latest News The Aussie market was weaker this morning, with the ASX 200 falling 0.48 per cent, to 7,306.7 before midday. The moves lower followed stronger US markets overnight, with the Nasdaq index hitting an all-time high. Energy is down the most, falling 1.3 per cent, while financials has also weighed on markets, down 1.1…

Fewer office workers hits Woolies sales

SYDNEY, AAP – Woolworths will write-down the value of 13 of its CBD stores by about $50 million as they struggle for sales with fewer office workers nearby. The supermarket giant mentioned the charge while flagging its full-year earnings were likely to include a $57 million pre-tax net gain from significant items. The retailer has…

Switch to tech stocks takes ASX lower

SYDNEY, AAP – Declines in financials and healthcare stocks were dragging the Australian market lower by about half a per cent. The big four banks were all down by more than one per cent while healthcare giant CSL shed 2.45 per cent to $293.01 on Wednesday. Energy shares dropped 1.36 per cent. The benchmark S&P/ASX200…

Krispy Kreme prepares for IPO in US

NEW YORK CITY, RAW – Krispy Kreme Inc is targeting a valuation of nearly $US4 billion ($A5.3 billion) in a US initial public offering, according to a regulatory filing, as the donut chain aims a return to the stock market to capitalise on the record capital markets activity. Known for its iconic glazed donuts, the…

Fossil fuels a no-go for renewables agency

CANBERRA, AAP – A plan to allow Australia’s renewable energy agency to invest in non-renewable technologies has been shot down in the Senate. The Morrison government wanted to expand the remit of an agency known as ARENA to allow it to invest in low-emissions projects such as carbon capture and storage, green steel and hydrogen….