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Stockland enjoys bumper land sales

MELBOURNE, AAP – Listed property giant Stockland is capitalising on increased confidence in the east coast housing market, inking thousands of residential sales and increasing its half-year dividend. The company reported a statutory profit of $350 million for the half year to December and will pay shareholders 11.3 cents per share. Its residential development division…

Aust shares close up 0.83 per cent

SYDNEY, AAP – Australia’s share market has closed higher, helped by the commodity-based sectors of materials and energy, as well as health. The S&P/ASX200 benchmark index closed higher by 56.2 points, or 0.83 per cent, to 6834.0 on Thursday. The All Ordinaries was higher by 56.3 points, or 0.8 per cent, at 7105.7. There were…

Aged care report scheduled to go public

HOBART, AAP – More than two years after it was first told shocking tales of neglect and failure, the aged care royal commission’s final report is expected to be publicly released next week. Commissioners will on Friday deliver their long-awaited findings to the governor-general but it won’t be made public until the federal government tables…

Biggest lift in business investment in 8½ years

Biggest lift in business investment in 8½ years Business investment; Average weekly earnings Business investment: New business investment (spending on buildings and equipment) rose by 3.0 per cent – the biggest quarterly lift in 8½ years – in the December quarter after five successive declines. But spending is still down 7.5 per cent on the…

CommSec Daily Report Thursday

Market recovers yesterday’s losses The Australian sharemarket is clawing back some of yesterday’s losses, helped by a rally in the Energy sector and gains in the Financial, Materials and Healthcare sectors. The ASX 200 (XJO) is up 62 points or 0.9% to 6,840. Oil stocks are climbing higher thanks to a 2.5% jump in global…

Asian shares rise after Fed rates comments

MIAMI, RAW – Asian stocks has perked up after US Federal Reserve chair Jerome Powell reaffirmed interest rates would stay low, calming market fears that higher inflation might prompt the central bank to tighten the monetary spigot. “The dovish influence from the Fed is going to continue to resonate over in Asia. That’s really good…

Afterpay to raise US stake, posts H1 loss

SYDNEY, AAP – Afterpay is raising money to increase its stake in its US operations on the same day it posted a first-half loss. The buy now, pay later provider on Thursday said it would raise up to $1.5 billion so it can increase its stake in Afterpay US from 80 per cent to about…

ASX up, dollar closer to 80 US cents

SYDNEY, AAP – Australia’s share market was higher as strong commodity prices continued to help the energy and materials sectors. The S&P/ASX200 benchmark index was higher by 63.3 points, or 0.93 per cent, to 6841.1 at 1200 AEDT on Thursday. The All Ordinaries was higher by 62.4 points, or 0.88 per cent, at 7111.8. Energy…

Dollar bulls feel the pain as commodity currencies go up

Dollar bulls feel the pain as commodity currencies go up The real story in G10 is that high beta and commodity currencies are going up and funding currencies are going down. It is proving excruciatingly painful for dollar bulls to fade these moves as rising domestic rates supported the later part of the rally. Although…

Australia Post delivers revenue growth

SYDNEY, AAP – Australia Post has announced first half revenue of $4.3 billion, up 15.5 per cent year-on-year, and profit before tax of $166.6 million. The result includes letter losses of just over $74 million. Capital investment during the period increased to $189.4 million, up $40.3 million on last year, with continued investment to improve…