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ASX200 hits first close above 7500 points

SYDNEY, AAP – The ASX200 has closed higher than 7500 points for the first time in its history as traders continue to look beyond coronavirus lockdowns. The index traded below the milestone figure for most of the day and investors had been unsure whether the ASX would close higher than the mark. The benchmark S&P/ASX200…

Ex-Post boss Holgate to receive $1m payout

CANBERRA, AAP – Former Australia Post boss Christine Holgate will receive a $1 million settlement for losing her job more than nine months after the acrimonious split. Ms Holgate left the organisation last year following a scandal over four luxury watches worth $20,000 being gifted to executives. Australia Post has also agreed to pay $100,000…

Prices pressures felt more by pensioners

CANBERRA, AAP – Most households would have been hit by the jump in fuel costs in the June quarter. This was the result of the recovery in world oil prices after their slump during last year’s global recession. It was partly to blame for 3.8 per cent rise in Australia’s annual inflation rate, its highest…

Retailers slam uncertainty in Qld shopping

TOWNSVILLE, AAP – A major retail body has criticised the Queensland government over a lack of clarity about which stores and shopping is essential. With Queensland now in its fourth day of lockdown, retail workers and industry representatives have been left confused about directives from the government as to which shops are essential and who…

Vehicle sales remain strong in July

ADELAIDE, AAP – Australia’s vehicle market powered ahead in July despite continued issues with supply and COVID-19 restrictions. The Federal Chamber of Automotive Industries says sales rose by 16.1 per cent last month compared to the same month in 2020 with 84,161 cars and trucks retailed across the country. That took sales for the seven…

CommSec Daily Report Wednesday

Latest News The Aussie market is a touch higher in the early part of Wednesday’s session. The ASX 200 is adding 14 points or 0.2% to 7488 around midday. Local gains follow improvements on US markets overnight, buoyed by positive earnings and economic data. Materials are leading sector performances with the major miners recouping losses…

ASX edges to record, mining shares spring

SYDNEY, AAP – Mining and materials shares have soared on the Australian market and helped it to a record high. Market giants BHP and Rio Tinto were up by 1.91 and 1.69 per cent at 1200 AEST on Wednesday after iron ore prices steadied overnight. Fortescue gained 0.83 per cent. Materials shares have had lacklustre…

Retail spending hit by lockdowns in June

CANBERRA, AAP – Household spending declined in June, hit by multiple lockdowns during the month, and the downward trend is also expected to hit retailers in July. The Australian Bureau of Statistics confirmed retail trade dropped 1.8 per cent in June, in line with preliminary figures released last month. States under longer periods of restrictions…

Asian shares rise but Delta woes mount

SYDNEY, RAW – Asian shares have advanced to one-week highs, led largely by strong US corporate earnings, although the mood remained cautious as the rapidly spreading Delta variant of the coronavirus clouds the global economic outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan on Wednesday climbed 0.1 per cent to the highest since July…

Ex-Post boss Holgate to receive $1m payout

CANBERRA, AAP – Former Australia Post boss Christine Holgate will receive a $1 million settlement for losing her job under a deal struck more than nine months after the acrimonious split. Ms Holgate left the organisation last year following a scandal over four luxury watches worth $20,000 being gifted to executives. Australia Post has also…