Aust shares down 0.8 per cent at midday
The Australian share market is a sea of red in early trade, amid profit taking by investors who took their cue from the overnight decline on Wall Street. The S&P/ASX200 benchmark index was lower by 56.6 points, or 0.84 per cent, to 6643.7 at 1200 AEDT on Wednesday. The index fell as low as 6630…
Japan has trailblazed on economic stimulus, to not much avail
Will Japan under Suga try the reflationary option Abe didn’t? In 2006, 52-year-old Shinzō Abe of the almost-always-in-power Liberal Democratic Party became Japan’s youngest-ever prime minister. In 2007, however, the son of a foreign minister and the grandson and grand-nephew of prime ministers resigned due to ill health. Abe recovered soon enough. In 2012, the…
Reasons to Consider Investing in Precious Metals
For many centuries, precious metals have always been prized assets. They have always provided security as they hold their value even in times of crisis. Precious metals have stood the test of time. Even when market prices dip, they never take long to increase. Investment experts often recommend investors to diversify their investment portfolio with…
Two million fewer workers on JobKeeper pay
More than two million workers have left the JobKeeper wage subsidy scheme since the Morrison government tightened eligibility and reduced payment rates at the end of September. The number of JobKeeper recipients has fallen from 3.6 million to 1.5 million in less than two months, outperforming predictions in the federal budget. Treasurer Josh Frydenberg said…
Melbourne petrol prices lift; Used car prices up;
Melbourne petrol prices lift; Used car prices up Credit card lending falls; ‘Lowflation’ Petrol Prices; Used car prices; Private Sector Credit; Inflation Fuel prices: The national average price of unleaded petrol fell by 3.3 cents to 118.9 cents a litre (c/l) last week according to the Australian Institute of Petroleum. Metropolitan prices declined 5.2 cents…
The transition to renewable energy
Australia’s electricity system is undergoing unprecedented change arising from the proliferation of renewable energy generation, with South Australia and parts of the National Energy Market (NEM) already reaching the highest level of renewable penetration in the world. While such rapid transition is positive for our decarbonization efforts, our exiting grid system is not designed to cope with…
Metro Trains Sydney workers win back pay
Metro Trains Sydney maintenance workers have won a long-running battle for more than $500,000 in unpaid wages. Unions NSW says it lodged the dispute in September, after MTS refused to pay more than nine months worth of allowances and leave loading, originally promised to 32 staff in the lead-up to a finalised employment agreement. The…
Dow scales 30,000 on vaccine, transition
US stocks have rallied and the Dow breached the 30,000 level for the first time as investors anticipated a 2021 economic recovery coronavirus vaccine progress and the formal clearance for President-elect Joe Biden’s transition to the White House. Each of the 11 major S&P sectors were higher on Tuesday, economically sensitive stocks such as the…
Manufacturing activity near 3-year high. Cheapest & dearest places for petrol
Manufacturing activity near 3-year high Cheapest & dearest places for petrol Petrol Prices; Used car prices; Manufacturing; Services Purchasing managers’ indexes (PMI): The IHS Markit ‘flash’ PMI for manufacturing rose from 54.2 to a 35-month high of 56.1 in November. The services PMI lifted from 53.7 to 4-month high of 54.9. The composite PMI rose…
Gold mining stocks in sweet spot for upside potential
The mid-tier gold miners’ stocks are in this sector’s sweet spot for upside potential. After a spectacular run since March’s stock panic, they have been correcting since early August. That is doing its necessary work of rebalancing sentiment, paving the way for the next bull upleg. Higher prevailing gold prices have proven a huge fundamental…
