Breaking news

More first home buyers in market: report

A growing number of first home buyers are breaking into the housing market but it takes couples almost five years on average to save their deposit, new research shows. There were more than 94,000 first homes bought across Australia in the year to August, a 5.6 per cent increase on the same time last year…

South32 NSW coal mine output to be lower

Full-year production at South32’s Illawarra Metallurgical Coal operations is likely to drop sharply after operations at one of the site’s two mines remained suspended for an extended period. The diversified miner now expects to produce 4.5 million tonnes of coal from Illawarra, where operations at the Appin mine have been repeatedly affected by a build-up…

Stocks to watch

Stocks to watch on the Australian stock exchange: AWE – AWE – down seven cents, or 10 per cent, at 63 cents The Chinese state-owned energy corporation interested in buying the Australian oil and gas group withdrew its $430 million bid. HVN – HARVEY NORMAN – up 25 cents, or 6.25 per cent, at $4.25…

Retail relief at soft Amazon Aussie debut

Australia’s retailers have had a reprieve – however brief – with Amazon’s local online operation underwhelming analysts with a debut offering featuring a narrower than expected product range and smaller than expected discounts. Amazon.com.au went live in the early hours of Tuesday with more than 20 categories ranging from toys, sports, tools, beauty and clothing….

Aust shares look set to open lower.

The Australian share market looks set to open lower, ignoring widespread optimistic sentiment following the passage of the Republican tax reform bill through the US Senate, At 0700 AEDT on Tuesday, the share price futures index was down 17 points, or 0.28 per cent, at 5,979. In the US, the Dow Jones Industrial Average and…

$A is steady against a stronger greenback

The Australian dollar is steady against a stronger greenback which lifted following the US tax reform bill’s passage through the Senate. At 0635 AEDT on Tuesday, the Australian dollar was worth 75.97 US cents, unchanged from Monday. Westpac’s Imre Speizer says markets sentiment had remained elevated after the passage through the Senate of the Republican’s…

US stocks back in record range as tax cut advances

Wall Street stocks jumped back into record territory early Monday following Senate passage of the massive and long-awaited tax cut plan.The Senate’s 51-49 passage of the Republican tax measure late Friday night sets the stage for President Donald Trump to sign into law Wall Street’s biggest priority in time for Christmas. The stock gains are based…

IG Research – The long and the short of it

The two overarching macro themes the market honed in on overnight have been the response from European and US traders to the Senate passing its tax plan and that no deal has yet been formally reached in the Brexit negotiations.Certainly, if we take the latter issue we can see just how complicated and emotive the…

US top court hears bid to legalize sports betting

America may have invented slot machines and Las Vegas is a gambling haven, but one form of wagering still remains largely off-limits – unless the Supreme Court backs New Jersey’s bid to legalize sports betting in a closely watched case.The nation’s top court on Monday began considering whether a ban on sports wagering in 46…

Australia’s central bank keeps rates on hold

Australia’s central bank left interest rates at a record low Tuesday, sparing the country a rude shock ahead of Christmas, as wage growth stagnates and household debt rises.‘The low level of interest rates is continuing to support the Australian economy,’ said Reserve Bank governor Philip Lowe. ‘Taking account of the available information, the board judged that…