Tuesday Roundup – RBA Holds Steady As Local Markets Push On
Local markets had a good day with the ASX 200 index rising by 1.44%, closing at 7,793.30, the All Ordinaries (INDEXASX: XAO) followed suit, with a rise of 1.42% also, gaining 113.20 points. This uptick came on the heels of the Reserve Bank of Australia’s (RBA) decision to keep its benchmark lending rate steady at…
Westpac Rewards Shareholders Despite Earnings Dip
In a climate of financial headwinds, Westpac Banking Corporation (ASX: WBC) has revealed a downturn in its financial performance for the half-year period ending in March. The Australian banking titan registered a 16% decrease in net profit amid challenging market conditions. Consequently, Westpac’s earnings experienced an 8% contraction, coming in at $3.506 billion. Despite this…
ASX 200 and All Ords Move Green On Year With Broad Sector Strength
The Australian markets flipped into green through 2024, as a positive week left both major indexes purring. The All Ords now sits 0.38% up on the year, whilst the ASX 200 also pushed back above 7,600 to stand just a shade above neutral on the year, up 0.02%. To end last week, there was a…
ATFX Adds Nick Twidale as Chief Market Analyst
[May 2, 2024, Sydney] – ATFX, a leading global online trading broker, is pleased to announce that Nick Twidale has joined the company as Chief Market Analyst for the Australia region. With over two decades of experience in banking and broking, Nick brings a wealth of expertise and leadership to his new role. Nick is…
Fresh Off 5 Year Highs, AUD/JPY Slips as Market Anticipates Potential Japanese Intervention
The Australian Dollar (AUD) experienced a notable pullback against the Japanese Yen (JPY) on Monday, retracting its recent gains as market participants weighed the possibility of intervention by Japanese authorities to bolster the Yen. The currency pair, which had been trading with bullish traction, saw a shift in momentum as the AUD lost 0.86% against…
BHP’s Attempt to Acquire Anglo American Stumbles as Shares Dip Post Rejection
The shares of BHP Group Ltd (ASX: BHP) have suffered a drop with the rebuff of a colossal $A60 billion all-share offer laid out by BHP for the acquisition of Anglo American (LON: AAL). This proposal not only skyrocketed Anglo American’s shares by a staggering 28.42% from Tuesday’s close but also saw BHP’s shares retreat…
Xero shares (ASX:XRO) down 12.62% last month. Analysts like the stock
Coming off 52 week highs set in March, Xero shares (ASX: XRO) have taken a bit of a breather in the last last month, dropping 12.62%. With analysts consensus on the stock at $130 (8% upside from last close), we want to take a closer look at recent news that might help push interest higher….
Pilbara Iron Ore Region Sees Drop in Economic Benefit Coming
In an unexpected turn for commodities markets, the big players in the Pilbara region of Western Australia, known for their typically bullish stance on future demand, have indicated a substantial downturn in the economic benefits generated from iron ore exports. According to a report from the Pilbara Heavy Industries Council, a staggering $25 billion is…
ASX 200 & All Ords Continue Strong Start To Week – Sector Roundup
The ASX 200 index closed on a stronger note today, matched by the All Ords, with both registering a 0.45% uplift. As the Australian equities market maintained its forward march over the past few days, it feels as though there is an improvement in investor sentiment seen across global markets. The session’s rally was aided…
Macquarie Launches $1.5 Billion Indian EV Fleet Financing Platform Vertelo
In a monumental push towards green transportation, the Australian financial giant Macquarie Group (ASX: MQG) announced the launch of an electric vehicle (EV) financing platform geared towards transforming India’s transport sector. With an emphasis on fleet electrification, Macquarie’s new venture, named Vertelo, is set to channel 95% of its substantial $1.5 billion investment into electrifying…
