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International markets roundup

NEW YORK: US stocks are little changed, as gains in the technology sector offset losses in energy and helped keep major indexes nearly flat. The S&P technology index was up 0.1 per cent and poised to snap a five-session losing streak, its longest since April, led by gains in Facebook, up 1.0 per cent, and…

British purchasing power set to stagnate in 2018

Britons’ purchasing power, which took a hit this year against the backdrop of Brexit, looks set to stagnate in 2018, according to a new study released on Wednesday. Following what was a ‘tough year for living standards’ in 2017… the prospects for a ‘meaningful pay recovery’ are ‘still out of sight’, said Torsten Bell, head of…

IG Research – The long and the short of it

In equity land, the story of the night has been the FTSE 100 breaking out to new all-time highs, although the 0.4% gain was hardly spectacular and even less so when one thinks the total value traded was 41% below the 30-day average.US equities have barely moved across the major indices, with volumes also non-existent….

US, European stocks edge higher in thin holiday trading

European shares were steady to slightly higher in thin holiday season trading on Wednesday, buoyed by a rise in commodity prices and a firmer showing on Wall Street. London’s FTSE 100 index, driven by strong gains in mining stocks, ended the session 0.4 percent higher at a new closing high of 7,620.68 points. In the eurozone, Frankfurt’s…

Asia News Agenda Thursday

ASIA NEWS HIGHLIGHTS ON THURSDAYAUSTRALIA – Yachting. Latest news on the gruelling Sydney to Hobart race (YACHTING-AUS-SYDNEY-HOBART) – Cricket. Day three of the fourth Ashes Test between Australia and England in Melbourne.CHINA– Chinese defence ministry holds monthly press briefing.JAPAN– Japan releases factory output data for November.

Light trade keeps Australian shares flat

The Australian share market has closed flat after its first day of post-Christmas trade, despite strength in mining and energy stocks. The benchmark S&P/ASX200 stock index was unmoved at 6,069.9 points at 1630 AEDT on Wednesday, with what investor confidence there was centred around higher oil and commodity prices. CommSec market analyst Steven Daghlian expects…

Retail Food Group rebounds on debt deal

Shares in Retail Food Group have continued to recover from their recent abysmal run, rising nearly 10 per cent after the embattled franchisor extended the life of $150 million in debt facilities to 2020. The move eased uncertainty over the company’s finances after its shares dived nearly 50 per cent following a profit warning and…

WorleyParsons flags US tax rate cut hit

Engineering group WorleyParsons expects a one-time charge of between $45 million and $60 million against its first-half profit following the reduction in the US corporate tax rate. This charge relates to a reduction in the group’s US deferred tax assets due to the decrease in both the US corporate tax rate and the potential loss…

Stocks to watch

Stocks to watch on the Australian stock exchange: NVT – NAVITAS – down 8.0 cents, or 1.45 per cent, at $5.43 Education provider Navitas expects a one-off charge of $7.5 million in its half-year accounts following the reduction in the US corporate tax rate. RFG – RETAIL FOOD GROUP – up 21 cents, or 9.2…

Finance News Update, what you need to know

WORLD FINANCE UPDATE: The Australian share market looks set to open unchanged with many markets around the world closed for the Christmas period and thin trade among the others over the holiday break. At 0700 AEDT on Wednesday, the share price futures index was steady, untraded at 6,026. Meanwhile, the Australian dollar is higher against…