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CommSec Daily Report Wednesday

Latest NewsLocal shares started higher on Wednesday day, eyeing the possibility of posting the sixth consecutive session of gains. The ASX 200 opened almost 5 points higher before trading to a near 15 point gain at the best levels of the morning, although by lunch the gains had been erased and the index was lower…

Keeping the speed up in the country

There was a moment when Sydney woman Lisa Penson thought she had made the biggest mistake of her life. She wanted to escape the increasingly expensive city but wasn’t prepared to give up her career as a business coach and teacher. She had a place to stay in a small town that had high-speed internet…

Tasmanian Liberals commit to pokies

Poker machines will remain in Tasmanian pubs and clubs if the Liberal party is returned to power, in what opponents have branded a government sell-out. Premier Will Hodgman made the commitment ahead of an expected March election, differentiating himself from a Labor vow to get rid of pokies from the venues by 2023. “We respect…

Job ad numbers fall in December

The number of jobs advertised in Australia fell in December, after a year of strong employment growth that took the jobless rate to its lowest level since 2013. ANZ’s survey of job ads shows the number of positions advertised in the final month of 2017 sank 2.3 per cent from November, largely unwinding the increase…

Melb apartments stoke building approvals

Approvals for the construction of new homes jumped by a surprise 11.7 per cent in November, driven by a spike in apartment and townhouse building in Melbourne. The increase in high density building in the Victorian capital meant overall approvals comfortably beat market expectations of a 1.0 per cent decline. The notoriously volatile ‘other dwellings’…

Resources sectors drive market higher

The share market has edged higher as gains by miners and energy companies offset weakness in the retail and healthcare sectors. The benchmark S&P/ASX200 index rose 0.1 per cent to 6,135.8 points, its fifth straight session of gains. Morgans client adviser Tim Evans said financial, telco and utility stocks made ground, but it was the…

Retail Food Group shares fall – again

Retail Food Group shares have taken another hit after the cafe and bakery owner issued its second profit warning in less than a month. The Gloria Jean’s, Donut King and Brumby’s Bakery owner says half year net profit is now expected to be lower than the $22 million it forecast on December 19. The company’s…

Brambles sells US business for $US115m

Brambles has inked a deal to sell North American whitewood pallets business CHEP Recycled to private equity firm Grey Mountain Partners for $US115 million ($A161 million). Grey Mountain Partners will take over 73 total pallet management (TPM) sites and 2,400 employees from CHEP Recycled, while Brambles will retain 88 plants and TPM sites that service…

Festive mood lifts confidence to 2013-high

The festive season glee has trickled through to consumers in the new year, with confidence climbing to a more than four-year-high. The latest ANZ-Roy Morgan Consumer Confidence Index shows a 4.7 per cent rise from mid-December to 122 points – its highest since November 2013 – thanks to significant increases in all sub components. Notably,…

Stocks to watch

Stocks to watch on the Australian stock exchange: BXB – BRAMBLES – up 1 cent, or 0.1 per cent, at $10.04 Brambles has inked a deal to sell North American whitewood pallets business CHEP Recycled to private equity firm Grey Mountain Partners for $US115 million ($A161 million). RFG – RETAIL FOOD GROUP – down 13…