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Resurgent banks help shares close higher

Australian shares have closed higher on broad-based gains, led by banking stocks and a materials sector boosted by rising commodity prices. The benchmark S&P/ASX200 index closed Friday up 0.74 per cent at 6,122.3 points, with only the utilities and real estate sectors ending the session in the red. CMC Markets chief market analyst Ric Spooner…

Stocks to watch

Stocks to watch on the Australian stock exchange: AC8 – AUSCANN – up 33 cents, or 26.19 per cent, at $1.59 BDA – BOD AUSTRALIA – up 4.5 cents, or 7.5 per cent, at 64.5 cents CAN – CANN GROUP – up 11 cents, or 2.82 per cent, at $4.01 THC – THE HYDROPO COMPANY…

$A up on $US amid commodity price lifts

The Australian dollar has marched higher against the US dollar following a rise in commodity prices. At 0635 AEDT on Friday, the Australian dollar was worth 78.60 US cents, up from 78.39 US cents on Thursday. In a bit of a see-saw week, the local currency overnight has performed strongly amid rises in gold, iron…

Finance News Update, what you need to know

WORLD FINANCE UPDATE: The Australian share market looks set to open more than half a per cent higher, following strong gains on US markets and fresh record highs elsewhere. At 0700 AEDT on Friday, the share price futures index was up 35 points, or 0.58 per cent, at 6,059. Meanwhile, the Australian dollar has soared…

Aust shares set to open sharply higher

The Australian share market looks set to open more than half a per cent higher, following strong gains on US markets and fresh record highs elsewhere. At 0700 AEDT on Friday, the share price futures index was up 35 points, or 0.58 per cent, at 6,059. In the US, the Dow Jones Industrial Average broke…

Uber’s ex-boss wants to sell 29% of shares for $1.4 bn: report

Ousted Uber boss Travis Kalanick plans to sell 29 percent of his stake in the US ridesharing giant for about $1.4 billion, Bloomberg reported Thursday, citing an unnamed source familiar with the matter.Kalanick, who co-founded the company and owns 10 percent of it, would sell the shares as part of the deal that will see…

CommSec Daily Report Friday

Latest NewsLike yesterday, local shares started the session in a confident fashion. The ASX 200 started trade with a 5 point advance, before moving to a 36 point gain at the best levels of the morning. At lunch the index remained within sight of session highs, in contrast to Thursday’s session where the market was…

Trump administration seeks to open most US waters to offshore oil drilling

The Trump administration on Thursday announced a proposal to allow oil drilling in virtually all US coastal waters, drawing immediate criticism from environmentalists and some Republicans.The program ‘proposes the largest number of lease sales in US history,’ and opens 98 percent of recoverable oil and gas reserves in federally-controlled waters to development, the US Interior…

Dow ends above 25,000 for 1st time, extending US stocks rally

The Dow finished above 25,000 points for the first time Thursday as strong employment data extended a stocks rally already boosted by the recent US tax reform.At the closing bell, the Dow Jones Industrial Average was up 0.6 percent to close at 25,073.24.The broad-based S&P 500 gained 0.4 percent to 2,723.88, while the tech-rich Nasdaq…

Trump says new book on his administration ‘full of lies’

US President Donald Trump on Thursday dismissed an upcoming book on his campaign and administration as ‘full of lies’ and invented sources, after unsuccessfully attempting to block its release.‘I authorized Zero access to White House (actually turned him down many times) for author of phony book! I never spoke to him for book. Full of…