CommSec morning report
European sharemarkets were firmer on Friday after China cut the 5-year loan prime rate by a bigger-than-expected 15 basis points to 4.45%. In economic data, British retail sales rose unexpectedly in April while German producer prices posted a record increase in the month. The pan-European STOXX 600 index rose by 0.7% on Friday but lost…
Gold miner fundamentals May 2022
The mid-tier and junior gold-miners’ stocks in their sector’s sweet spot for upside potential have been clubbed like baby seals since mid-April. Sucked into the parallel serious stock-market selloff, that’s left these smaller gold stocks deeply out of favor. Yet their fundamentals remain strong as revealed in the just-finished Q1’22 earnings season. That recent brutal…
CommSec evening report Friday
The Australian sharemarket has finished the week on a positive note and nearly reversed yesterday’s losses, after lifting by 1.15 per cent or 81pts, to 7146. Gains were seen across the market today after nine of eleven sectors finished in positive territory. Energy stocks however dragged the index lower after a 1.6 per cent slide…
The week ahead
Australia: Key Reserve Bank officials to speak Business investment is the key data highlight in the week ahead while two Reserve Bank senior officials deliver speeches. And the week kicks off on Monday with a speech by Christopher Kent, Assistant Governor (Financial Markets) at the Reserve Bank, at the KangaNews DCM Summit 2022. And in…
ASIC bans financial adviser for 5 years
Financial adviser Walter Yaolong Guan, of Sydney, New South Wales, has been banned for five years from providing any financial services or controlling an entity that carries on a financial services business. ASIC found that between March 2017 and August 2021, Mr Guan, through his company Perennial Growth Pty Ltd, carried on a financial services…
Markets update: Negative feedback loop
MARKETS Broader indexes are off the lows, but conviction remains near zero. The rebound was primarily due to covering bids by crowded shorts and a slight bounce in higher beta Tech as bond yields fall. Mounting global recession risk is top-of-mind for markets but as the procession to recession shortens, growth concerns are rising, leaving…
Lowest jobless rate in almost 48 years
Employment rose by 4,000 in April with full-time jobs up by 92,400 but part-time jobs were down by 88,400. Total employment hit a record high of 13.4 million in April. To two-decimal places, the unemployment rate was 3.85 per cent in April, down from 3.93 per cent, the lowest level since the current monthly series…
BRICS bank issues 7-billion-yuan bond
SHANGHAI – BRICS New Development Bank (NDB) has issued an RMB-denominated bond of 7 billion yuan (about 1.04 billion U.S. dollars) in China’s interbank bond market with a maturity of three years, the bank said Thursday. Upon the completion of the issuance, the bank would have a cumulative total of 30 billion yuan bonds issued…
CommSec morning report Friday
In US economic data, initial jobless claims rose by 21,000 to 218,000 last week (survey: 200,000). Existing home sales fell by 2.4% in April to an annual rate of 5.61 million, the lowest since June 2020 (survey: 5.64m). The Conference Board leading index dipped 0.3% in April (survey: flat). The Philadelphia Fed manufacturing index fell…
Seven Top Performing Cryptocurrencies in Australia
When you compare the cryptocurrency market to stock and other investments, the market value of cryptos seems to be outshining all its competitors despite its volatility. Perhaps more Aussies are looking at cryptocurrency as an alternative avenue to grow their financial portfolios. A glance at last year’s performance of some digital currencies like Bitcoin and…
