S&P 500 higher as Treasury yields jump
NEW YORK, RAW – The S&P 500 ended higher as financial shares rose after the benchmark Treasury yield jumped to its highest level in nearly three years. The Nasdaq ended lower on Friday, and tech and other big growth names mostly declined, but they finished off session lows following a late-session rally. For the week,…
The federal budget: What we know so far
CANBERRA, AAP – FEDERAL BUDGET – WHAT WE KNOW SO FAR: THE BIG PICTURE * With the COVID-19 pandemic, flooding and Ukraine-Russia war creating headwinds, Treasurer Josh Frydenberg is emphasising the “fiscal dividend of a stronger economy” * Budget deficit estimated to be around $70 billion, instead of the $98.9 billion estimated in the mid-year…
Why the RBA won’t hike interest rates just yet
The biggest question relating to the management of the economy right now has nothing to do with next week’s budget. It has everything to do with the Reserve Bank and the board meetings that will follow it. The question facing the board – the biggest there is when it comes to how the next few…
Aust shares make good start to budget week
SYDNEY, AAP – Australian shares have started budget week looking like they may notch an eighth day of gains in the past nine. The market was higher by almost half a per cent on Monday despite a coronavirus lockdown ordered for the Chinese financial hub of Shanghai. Shanghai’s Pudong financial district and nearby areas will…
Australian shares close 0.26 pct higher
SYDNEY, AAP – Shares have held on in afternoon trading to lift the Australian market to its highest close in more than two months, buoyed by gains in materials and energy stocks. The benchmark S&P/ASX200 index ended 19.1 points, or 0.26 per cent higher, at 7406.2 on Friday, recording increases for the fourth straight session….
Origin Energy questioned over Russian link
DARWIN, AAP – A gas company exploring the Northern Territory’s Beetaloo Basin has denied any wrongdoing over its links to a Russian billionaire on Australia’s sanctions list. Origin Energy says it will comply with any directions from the Department of Foreign Affairs and Trade concerning Russian oligarch Viktor Vekselberg. Mr Vekselberg is understood to own…
Housing, health on pre-election agenda
CANBERRA, AAP – Labor is seeking to turn the election focus to housing with a policy to support first-home buyers in regional areas. The policy announcement came as a new analysis of Newspoll figures showed support among 35 to 49-year-olds for the Liberal-National coalition dropped seven points to 29 per cent, while Labor rose five…
Lockdowns hit Premier first-half profit
SYDNEY, AAP – Retailer Premier Investments has posted a 13 per cent drop in first-half profit after Delta lockdowns in Sydney and Melbourne left most of its fashion, apparel and stationery stores shut during the initial quarter. The owner of Smiggles, Peter Alexander and Portmans brands reported net profit of $163.6 million for the 26…
Opportunity to replace Russian gas: Santos
CANBERRA, AAP – The nation’s biggest domestic gas supplier Santos is keen to reduce Europe’s dependency on Russia by selling more Australian LNG, a federal inquiry has been told. Santos also warned on Friday that if investment in oil and gas exploration stops in places like Australia, the world will rely on Russia and OPEC…
Asian shares steady, set for weekly gain
HONG KONG, RAW – Asian shares could be heading for a second successive week of gains, though trading was choppy amid hawkish US monetary policy, shifts in Chinese economic policy, and ongoing ructions in commodity markets due to the war in Ukraine. MSCI’s broadest index of Asia-Pacific shares outside Japan traded flat, but is up…
