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Monday markets evening report

Despite a strong start to trade, which saw the Aussie sharemarket reach highs of 0.7 per cent, the S&P/ASX 200 finished on a flat note, gaining 0.1 per cent or 3 pts, to 7149. The Materials sector did much of the heavy lifting today after the price of iron ore rose by 2.5 per cent…

Pickup truck sales down in first four months

BEIJING — China’s pickup truck sales dropped 11 percent year on year in the first four months of the year due to COVID-19 disruptions to production, industry data showed. A total of 165,000 pickup trucks were sold during the period, according to the China Passenger Car Association. In geographical breakdown, more than 40 percent of…

Investment Paralysis

It’s a tough time to manage money – and performance is struggling across the board. Perhaps worse, asset managers don’t know what direction to turn next. The backdrop is challenging, and “The Street” is coming to terms with the harsh reality of central banks tightening monetary policy. For the most part, every pain trade that…

Europe freight train taps business opportunities

FRANKFURT — A third freight train recently arrived in Frankfurt from China and a local general manager believed that it would bring more business opportunities to the city. Given that transportations by sea and air are both strained, the China-Europe freight trains provided another way of direct connections, Kawus Khederzadeh, general manager of the industrial…

China’s natural gas output up

BEIJING — China saw a steady increase in its natural gas output in April, official data showed. The country’s natural gas output was 17.7 billion cubic meters in April, up 4.7 percent from a year ago, according to the National Bureau of Statistics. In the first four months of this year, China reported a total…

CommSec morning report

European sharemarkets were firmer on Friday after China cut the 5-year loan prime rate by a bigger-than-expected 15 basis points to 4.45%. In economic data, British retail sales rose unexpectedly in April while German producer prices posted a record increase in the month. The pan-European STOXX 600 index rose by 0.7% on Friday but lost…

CommSec evening report Friday

The Australian sharemarket has finished the week on a positive note and nearly reversed yesterday’s losses, after lifting by 1.15 per cent or 81pts, to 7146. Gains were seen across the market today after nine of eleven sectors finished in positive territory. Energy stocks however dragged the index lower after a 1.6 per cent slide…

The week ahead

Australia: Key Reserve Bank officials to speak Business investment is the key data highlight in the week ahead while two Reserve Bank senior officials deliver speeches. And the week kicks off on Monday with a speech by Christopher Kent, Assistant Governor (Financial Markets) at the Reserve Bank, at the KangaNews DCM Summit 2022. And in…

ASIC bans financial adviser for 5 years

Financial adviser Walter Yaolong Guan, of Sydney, New South Wales, has been banned for five years from providing any financial services or controlling an entity that carries on a financial services business. ASIC found that between March 2017 and August 2021, Mr Guan, through his company Perennial Growth Pty Ltd, carried on a financial services…

Markets update: Negative feedback loop

MARKETS Broader indexes are off the lows, but conviction remains near zero. The rebound was primarily due to covering bids by crowded shorts and a slight bounce in higher beta Tech as bond yields fall. Mounting global recession risk is top-of-mind for markets but as the procession to recession shortens, growth concerns are rising, leaving…