Survival of the Fittest – Iron ore versus Oil
One month ago, the ASX closed its worst trading month in history. One month later, the ASX has closed its best trading month ever. In the US, the Dow Jones Industrial Average (DJIA) recorded its best month in 33 years. Volatility persists, as market sentiment bounces back and forth between enthusiasm over any news on…
Banks push Aust shares higher.
Australian shares have finished stronger, with gains in financial, energy and health care stocks outweighing losses in the mining sector. The benchmark S&P/ASX200 index rose 32.4 points, or 0.52 per cent, to 6,210.2 points, while the broader All Ordinaries index gained 29.5 points, or 0.47 per cent, to 6,302.8 points. CommSec market analyst Steven Daghlian…
BHP looks to boost Pilbara export capacity
BHP is looking to significantly boost its iron ore export capacity from Port Hedland in a move that could boost royalty revenues for Western Australia. While the mining giant is still looking to reach its licensed capacity of 290 million tonnes a year in the medium term, BHP says improvements in its supply chain could…
Tips When Trading Bybit As A Beginner
Due to the technological innovations these days, most traders are looking for ways to improve their trading strategies and maximize their profits. This is where a cryptocurrency exchange like ByBit can help. Primarily, ByBit is a popular cryptocurrency exchange portal that provides traders a user-friendly approach to handling their digital assets. It also accommodates Bitcoin…
ASX flat for 2nd day as miners gain
The Australian share market has treaded water for a second straight day, with gains for mining and energy stocks outweighed by losses by most of the rest of the market. The benchmark S&P/ASX200 benchmark index closed down 4.1 points, or 0.08 per cent, to 5,217.1 points, while the All Ordinaries index finished one point lower,…
Goods exports up 29% in March, ABS says
Australia’s goods exports rose 29 per cent in March as raw material exports rebounded from a lacklustre February, according to preliminary figures from the Australian Bureau of Statistics. “Among the key movers were exports of iron ore to China, Australia’s largest trading partner, which increased significantly following declines in January and February,” the ABS said…
CommSec Daily Report Wednesday
Latest news While Aussie shares are losing ground for a third day, the ASX 200 is down by just 0.8 per cent, bouncing off a low of 2.3 per cent earlier this morning. The market has shed close to 6 per cent so far this week partly on volatile oil prices and sluggish economic data….
No government bailout for Virgin Australia
The Morrison government is holding firm against Labor’s and union demands to rescue Virgin Australia after the troubled airline entered voluntary administration. Former Macquarie Bank chief executive Nicholas Moore has been appointed as the federal government’s representative to work with administrators. But the company’s hopes of a government bailout appear to be minimal, with Treasurer…
Virgin Australia receives a lifeline
With commercial airline fleets grounded due to lack of demand, the Australian government will pay the nation’s two biggest airlines, Qantas and Virgin Australia, $A165 million to ensure they keep flying critical metropolitan and regional routes over the next two months. This measure comes on top of a A$198 million assistance package for regional airlines and the…
Parliament to return for trial week in May
Federal parliament will meet for its ordinary business in May, although it is likely to still be a cut-down version that practises social distancing. Prime Minister Scott Morrison said the week-long sitting, yet to be agreed with the opposition, would be a trial. “It is important that parliament goes about that work and we are…
