Breaking news

ASX edges higher with gains for 5th day

The local bourse has shrugged off its early losses to close at a fresh 13-week high despite a slumping CSL dragging down the market. The S&P/ASX200 benchmark index finished Friday up 6.9 points, or 0.1 2per cent, at 5,998.7 points, while the All Ordinaries index closed up 4.5 points, or 0.07 per cent, at 6,116.5….

The Week Ahead

Published by Ryan Felsman, Senior Economist, CommSec

Sony hit with fines over faulty videogames

Sony has been forced to pay $3.5 million in fines in Australia after it told customers they couldn’t get a refund for faulty videogames. Four PlayStation gamers were told they couldn’t get their money back after downloading the games. The Federal Court ordered Sony Europe to pay up on Friday after Australia’s consumer watchdog took…

An Exclusive Interview with the CEO of Centrum Markets

This week we had the pleasure of sitting down with Chris Theodorou – CEO of Centrum Markets, a fast-growing and fully Regulated STP Forex Broker and discuss the company, what led to its success, and its plans for the future. 1. What is the reason behind Centrum Markets creation, and what is your mission? Well,…

Twitter disables Trump tribute to Floyd

Twitter has disabled US President Donald Trump’s campaign tribute video to George Floyd on its platform, citing a copyright complaint. The clip, which is a collation of photos and videos of protest marches and instances of violence in the aftermath of Floyd’s death, has Trump speaking in the background. Floyd’s death last week after a…

CommSec Daily Report Friday

Latest news Aussie shares are slipping for the first time this week, however have bounced off this morning’s lows with the ASX 200 closing in on 6,000pts. Despite today’s weakness keep in mind that the Aussie market hit a three-month high yesterday, was on a fourday winning streak and is up ~4 per cent this…

Kogan sales jump amid online shopping boom

Online shopping trader Kogan has reported a surge in sales during April and May even as coronavirus lockdowns restricted activity in the retail sector. Kogan said in a fourth quarter progress report gross sales were up more than 100 per cent from a year ago while gross profit improved more than 130 per cent for…

Muted start for Asian markets

Asian stocks are off to a muted start after a dip in US shares amid concern the recent rally had gone too far. Even after the European Central Bank (ECB) fired off a policy bazooka, stocks struggled for traction as S&P 500 suffered its first loss in five days though the Dow ended mostly flat….

Free childcare unlikely to be extended: PM

Scott Morrison has talked down the prospect of extending free childcare for another three months. The prime minister said the $1.6 billion scheme, which ends on June 28, was never meant to be permanent. “It was a measure designed for the times and, like all of our measures, we are constantly looking at them and…

Gold recovers as investors buy the dip

Gold clawed back losses overnight as the US dollar weakened precipitously against the Euro in the wake of the European Central Bank (ECB) meeting and as the stock market’s upward momentum ran out of steam ahead of the US Non-Farm Payroll report. But in reality, gold has not done that much this week, but encouragingly…