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US new home sales rise to 10-year high

US sales of new single-family homes quickened for the second straight month in October, rising to the highest level since the housing bubble, according to data released Monday.The increase points to a recovery in sales after what had been a sluggish year amid tightening supply and rising prices.But the monthly gain was boosted by the…

IG Research – The long and the short of it

We are staring at a fairly flat start for Australian and Japanese equities indices on open this morning, although China is the market to watch and another day of reasonably heavy selling may impact sentiment across the region.The CSI 300 is the index showing all the moves at the moment closing -1.3% yesterday, and breadth,…

Global stocks mostly fall as oil-linked shares retreat

World stocks mostly fell Monday on weakness in petroleum-linked equities and as a strong euro weighed on European bourses.Equity markets in London, Paris, Frankfurt and Tokyo all fell, while the S&P 500 and Nasdaq retreated from records in the US.Eurozone stocks fell, as the  euro, though pulling back a bit from Friday’s level against the…

Bezos a $100 bn man as Amazon rises on cyber shopping

Amazon founder Jeff Bezos was a $100-billion man on Monday as the online retail colossus raked in cash from the holiday weekend’s cyber shopping spree.Forbes magazine’s real-time ranking of the richest people had Bezos on top, with a personal net worth of $100.3 billion.Microsoft co-founder Bill Gates saw his net worth climb to a dizzying…

Federal Reserve nominee Powell defends bank regulation, sees higher interest rates

President Donald Trump’s pick to lead the US central bank on Monday defended regulations that have made the financial system more crisis-proof, and said interest rates are likely to rise a bit more.But Federal Reserve Governor Jerome Powell, a former investment banker, said the Fed will continue to look for ways to ease the regulatory…

CommSec Daily Report Tuesday

Latest newsThe Australian market is off to a firmer start, with the ASX 200 lifting by 0.14 per cent, rising back above 6000pts earlier and remaining near two-week highs. It will be important to see if the index can close above 6000pts as it failed to do so yesterday due to fading enthusiasm in the…

Telstra shares sink on NBN rollout delay

Telstra shares have sunk after NBN Co said it will temporarily suspend the national broadband network rollout so it can work on improving the quality of the service. The company tasked with building the NBN says it will suspend the rollout of the hybrid coaxial-fibre (HFC) network for six to nine months, from December 11,…

Coca-Cola shares up on buy rating upgrade

Shares in Coca-Cola Amatil have jumped after Citi analysts upgraded the company to a buy rating, forecasting a stabilisation in earnings from its Australian business and growth potential in Indonesia. Citi expects revenue growth from Coca-Cola’s Australia division to return in the 2018 financial year, citing an acceleration in new product launches, water pricing changes…

Auction clearance rate slows: CoreLogic

Australia has just had one of its busiest weeks of the year for homes going to auction but buyers are less enthusiastic, with the number of auctions resulting in sales well down on what is was a year ago. The number of homes that went under the hammer across all capital cities in the week…

Downer shares soar on profit guidance lift

Shares in Downer EDI have jumped after the engineering group lifted its full-year profit because of larger-than-expected cost savings uncovered following its purchase of Spotless. Downer, which owns 87.8 per cent of the property services firm after a lengthy takeover struggle, upgraded its net profit guidance to $195 million from April’s $190 million following a…