Breaking news

Record exports to China

Record exports to China; Engineers in demandInternational trade; Construction activityTrade surplus: The trade surplus fell from a revised $1,604 million in September to $105 million in October. The rolling 12-month surplus rose from $18.9 billion to a record $20.1 billion. Exports to China hit a record $102.29 billion in the year to October.Construction activity: The…

Morrison won’t consult ALP on bank inquiry

Treasurer Scott Morrison won’t be consulting the federal opposition on the terms of reference for the royal commission into the financial sector, including bank misconduct. Shadow treasurer Chris Bowen says it’s important the inquiry have bipartisan support and part of that is to properly consult on its scope. ‘Taking economic advice from the Labor Party…

Profit taking sends share market lower

The share market lost ground due to significant falls by healthcare and energy stocks and weakness in the materials and industrial sectors. The benchmark S&P/ASX200 stock index dropped 0.4 per cent to 5,945.7 points. Citi director of equity Karen Jorritsma said some investors were moving out of resources and energy companies after the materials sector…

TPG hit with first strike on executive pay

TPG Telecom has been hit with a first strike over executive pay as its smaller shareholders lodged a protest vote. Almost 30 per cent of shareholder votes went against TPG’s remuneration package for 2016/17 at the company’s annual general meeting on Wednesday. A no vote of at least 25 per cent at TPG’s next AGM…

Stocks to watch

Stocks to watch on the Australian stock exchange: IPL – INCITEC PIVOT – down 10.5 cents, or 2.6 per cent, at $3.875 Incitec Pivot has warned that its 2020 and 2021 full-year profits will be hit by the end of a contract to supply ammonium nitrate prill to mining giant BHP Billiton. MTC – METALSTECH…

AAP Markets Report

Stock Market Wrap 0800 INDEX LAST MOVE PREVIOUS Dow Jones 24182.31 -107.74 24290.05 S&P500 2632.77 -6.67 2639.44 Nasdaq 6770.368 -4.998 6775.366 FTSE100 7327.5 -11.47 7338.97 DAX 13048.54 -10.01 13058.55 Shanghai 3303.0417 -6.5766 3309.6183 Hang Seng 28842.8 -295.48 29138.28 NIKKEI225 22622.38 -84.78 22707.16 NZSE 50 8176.21 -8.66 8184.87 CURRENCY SNAPSHOT AT 0805 AEDT: One Australian dollar…

Aust shares look set to open in the red

The Australian share market looks set to open firmly in the red following Wall Street’s the negative lead with the Dow and the S&P500 down as investors weigh the impact of a tax overhaul. At 0700 AEDT on Wednesday, the share price futures index was down 27 points, or 0.45 per cent, at 5,953. In…

Economy romps into 27th year of expansion

Australia started its 27th year of unprecedented economic expansion, posting the strongest annual growth rate in 15 months. Treasurer Scott Morrison labelled the September quarter national accounts “another encouraging set of numbers”, noting that at 2.8 per cent, the annual growth figure stands above the average of other advanced economies. “This puts Australia back up…

Australia stung by N. Zealand bid to trademark manuka honey

Manuka honey’s much-hyped healing properties have proved a money-spinner for beekeepers in Australia and New Zealand, but a push to trademark its name has sparked a bitter row between the two countries.The fracas erupted when a New Zealand association applied for exclusive rights to market manuka honey in five countries, including the United States, Britain,…

Economy growing at 2.8% annual rate

Economy growing at fastest pace in 15 monthsNational accountsRecord expansion: The economy grew by 0.6 per cent in the September quarter after rising by 0.9 per cent(revised) in the June quarter. Annual economic growth rose to 2.8 percent – the fastest pace since June 2016 – up from 1.9 per cent. The economy has moved…