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ASX expected to open higher on trade hopes

The Australian share market is expected to open higher following gains on Wall Street overnight. The SPI200 futures contract was up 33 points, or 0.50 per cent, at 6,691.0 at 0800 AEST, suggesting a bounce for the benchmark S&P/ASX200 on Wednesday. Wall Street was buoyed by positive quarterly results from Coca-Cola and United Technologies, with…

Wall St near highs on results, trade hopes

The S&P 500 and Nasdaq have approached record highs, lifted by upbeat quarterly reports from Coca-Cola and United Technologies and on optimism the US would resolve its trade conflict with China. Stocks extended gains late in the session on Tuesday after Bloomberg reported that US Trade Representative Robert Lighthizer would travel to Shanghai next week…

‘US, China to hold trade talks next week’

US Trade Representative Robert Lighthizer and senior US officials will travel to Shanghai on Monday for face-to-face trade meetings with Chinese officials, Bloomberg reports, citing unnamed sources. Lighthizer’s office did not immediately respond to a request for comment on the report. China and the United States have been locked in a trade battle since last…

ASX up across board, led by energy sector

The Australian share market has finished broadly higher with all sectors posting gains. The benchmark S&P/ASX200 index was up 33.4 points, or 0.5 per cent, to 6,724.6 points at 1615 AEST on Tuesday, while the broader All Ordinaries was up 31.3 points, or 0.46 per cent, to 6,812.5 points. The Aussie dollar is buying 70.21…

BHP external CEO candidate push: report

At least three institutional investors in Australia are pushing for global miner BHP to consider external candidates to replace Andrew Mackenzie as new CEO, sources with direct knowledge of the matter say. The move highlights nascent investor pressure on the world’s biggest miner to consider drastic changes in management to tackle challenges like cutting costs,…

Kogan flags strong 2nd-half profit growth

Kogan.com has flagged second-half profit growth of more than 12 per cent and plans to start selling its own branded goods in the US. The online retailer says unaudited second-half gross profit for the six months to June 30 was more than 12 per cent higher than a year ago, while gross transaction value across…

Consumer finances are the best in five months

Consumer finances are the best in five months Weekly consumer sentiment Consumer confidence: The weekly ANZ-Roy Morgan consumer confidence rating rose by 0.3 per cent to 116.3 points. Consumer sentiment remains above the average of 114.4 points held since 2014 and the longer term average of 113.1 points since 1990. Consumer finances: The estimate of…

Retail, vehicle spending still weak: CBA

Australians are still reluctant to splash out on retail and cars despite tax cuts and lower interest rates, with new data showing spending intentions are weak. The inaugural edition of Commonwealth Bank’s Household Spending Intentions Series uses Google Trends search data and CBA transactions to test consumer sentiment, and the results aren’t good for retailers….

ASIC Acts Against SMSF Auditor Misconduct

ASIC has acted to disqualify or add conditions to the registration of a number of auditors of self-managed superannuation funds (SMSFs). The actions arose following ASIC concerns about failures to meet requirements including auditor independence standards, auditing standards, minimum continuing professional development (CPD) hours, lodging annual statements, and fit and proper person criteria. Most of…

CommSec Daily Report Tuesday

Latest news The ASX200 is edging higher by 26.7 pts or 0.4 per cent to 6717.9 at lunch despite an underw helming start to trade from mining stocks. The market started the day w ell, slow ly grinding higher over the first hour of trade thanks to gains across almost all sectors and 65 per…

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