Bitcoin Completes Three-Month Winning Streak
Investors in Bitcoin celebrated at the end of April, with the month ending in over 30% gains for the cryptocurrency. That meant Bitcoin had its first three-month winning streak since the last quarter of 2017, making it something of a vindication for those who signalled the end of the bear market on the digital currency…
GrainCorp shares slump as LTAP walks away
GrainCorp shares have slumped more than nine per cent after suitor Long-Term Asset Partners withdrew its $2.38 billion takeover offer. The stock sagged on Tuesday following the bulk grains handler’s post-trade announcement on Monday that LTAP had withdrawn the non-binding $10.42 per share offer it made in December 2018. “Had due diligence supported our operational…
Interest cuts major catalyst for rising housing prices
Falling interest rates were the major catalyst for rising housing prices across Australia according to new research published on Monday by the Reserve Bank. The new findings come just a week after the RBA’s governor Philip Lowe said the rate cuts had not had a notable impact on house prices during the early to mid-2010s….
Banks, energy keep ASX falling through day
The Australian share market’s early losses have gathered pace with the financial and energy sectors losing more ground. The benchmark S&P/ASX200 index was down 25.7 points, or 0.40 per cent, to 6,385.5 points at 1200 AEST on Monday, while the broader All Ordinaries was down 22.9 points, or 0.35 per cent, to 6,450.3. All four…
Gold Doldrums in June
Gold has spent most of June grinding lower on balance, damaging sentiment and vexing traders. Usual selling leading into the Fed’s latest rate hike contributed, but the summer doldrums are also in play. Gold has typically suffered a seasonal lull this time of year, on waning investment demand as vacations divert attention from markets. But…
Morgan Stanley shows house prices will continue to tumble
House prices in Australia have now been falling for nine consecutive months, and Morgan Stanley recently said that its modeling shows this trend set to continue. The US investment bank has based its estimation on its predictive housing model, known as MSHAUS. The downturn follows a strong upward cycle late in 2016. The Australian housing…
Skilled job vacancies hit 6½-year highs
Skilled job vacancies hit 6½-year highs Skilled job vacancies Skilled vacancies: The Internet Vacancy Index rose by 0.7 per cent in trend terms to 9-month highs in December. It was the third straight gain in the trend index. The index is 1.4 per cent higher than a year ago and 31.4 per cent above its…
ASX Blockchain Stocks: Boom or Bubble?
Even the most casual followers of global business news find themselves swamped in the raging debate over the meteoric rise of Bitcoin, the world’s leading “cryptocurrency.” Cynics taking the time to investigate may stop searching upon learning the name behind Bitcoin, Satoshi Nakamoto, may be a pseudonym for a man, a woman, or a group…
Tesla CEO Elon Musk reveals “difficult and painful year”
Tesla CEO and tech magnate Elon Musk continued to occupy the spotlight by giving an in-depth interview with the New York Times on Thursday, discussing what he labeled the “most difficult and painful year in my career”. The markets are watching Tesla intently amid rumors of the publicly listed company going private. With Tesla’s ambitious…
IMF warns of global economic “storm” as growth undershoots
The International Monetary Fund on Sunday warned governments to gear up for a possible economic storm as growth undershoots expectations. ‘The bottom-line – we see an economy that is growing more slowly than we had anticipated,’ IMF Managing Director Christine Lagarde told the World Government Summit in Dubai.Last month, the IMF lowered its global economic…
