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Indebtedness will change RBA goals: study

SYDNEY, AAP – Governments around the world took on eight years’ worth of borrowing in 2020 to tackle the economic fallout of the COVID-19 pandemic, according to data compiled by a global investment management firm. And while Australia’s sovereign debt jumped by more than $210 billion in 2020, its ratio of debt to gross domestic…

Late dive leaves ASX little changed

SYDNEY, AAP – Australia’s share market dived late but still closed higher for the fifth consecutive session, and inched towards a record. The benchmark S&P/ASX200 index closed higher by 2.1 points, or 0.03 per cent, to 7065.6 on Monday. The index rose as high as 7094.8 earlier. The ASX200 is within 100 points of its…

Asian shares near short-term highs

SYDNEY, RAW – Asian shares have hovered near one-and-a-half week highs helped by expectations monetary policy will remain accommodative the world over, while vaccine rollouts help ease fears of another wave of infections. MSCI’s broadest index of Asia-Pacific shares outside Japan was at 695.59 early on Monday, within striking distance of Friday’s high of 696.48…

Petrol prices ease for school runs.

Petrol prices ease for school runs Second strongest home sales since 2004 Petrol Prices; New home sales; Used vehicle market Fuel prices: Last week the national average price of unleaded petrol fell by 1.6 cents a litre to 142.8 cents per litre (c/l), according to the Australian Institute of Petroleum. Retail unleaded pump prices have…

Stocks at record highs

US equities closed higher on Friday and will kick off the week at record highs, with investors digesting the recovery despite mounting concerns about new Covid-19 variants. But with Covid never far from the conversation, investors could tread cautiously to start the week. Following the miss on US consumer sentiment in April, with outperformance in…

CommSec Daily Report Monday

Latest News The Aussie market is higher for a fifth consecutive session to start the new week. The ASX 200 is adding 24 points or 0.34% to 7,087 around midday as the benchmark index nears the all-time highs hit in February last year, currently ~1.6% away from the high of 7,197. The broader All Ords…

New home sales stay buoyant in early 2021

CANBERRA, AAP – New home sales were nearly 40 per cent higher in the first three months of the year than during the same period last year. The Housing Industry Association’s new home sales report found sales in the March quarter increased across all of the nation’s five largest states. Overall, sales were 39.4 per…

All Ords’ record high, ASX up 0.3 per cent

SYDNEY, AAP – Australia’s All Ordinaries index has extended its record high to start the week as the market closed on more records.The All Ordinaries reached a record 7358.8 points in the first two hours of trading, and was up by 25 points, or 0.34 per cent, to 7350.8 points at 1200 AEST.The index last…

Afterpay revolution aided recession battle

CANBERRA, AAP – The Afterpay revolution provided billions of dollars of benefits to the Australian economy during last year’s recession, fuelling jobs growth and helping consumers turn their backs on expensive credit cards. These are just some of the findings in research conducted by Accenture into the Buy Now Pay Later service provider. It found…

Millions face impact of tax offset removal

CANBERRA, AAP – Millions of Australians will be worse off when a tax stimulus measure finishes at the end of this financial year.The $1080 low and middle income tax offset (LMITO), which benefits people with a taxable income of between $48,000 and $90,000, is due to end in June.Analysts at the Bankwest Curtin Economics Centre…