CommSec Daily Report Wednesday
Latest NewsIt has been another solid start for the Aussie sharemarket, climbing for a third straight day as trade optimism boosts global markets. The ASX 200 is climbing 35 points or 0.6% to 5757.8 approaching lunch. Wall St provided a solid foundation as it lifted for a third straight day, the first three day winning…
NAB business arm admits to nerves over credit lines
It may seem surprising that Australia’s banks are not more bullish at present, given their need to present a case of strong future direction and growth to help secure support in volatile times. However, considering the backlash from the Royal Commission inquiry into financial misconduct, such feats are not so easy to pull off. This…
Fiat Chrysler to open new plant in Detroit
Fiat Chrysler will open a new car factory in Detroit, adding up to 400 jobs to produce a popular SUV, according to a news report.The company, which has been bucking the industry trend with strong sales, will retool an idle engine plant to serve as the first new auto assembly line to open in the…
Deutsche Bank shares get caught in Danske maelstrom
Shares in Germany’s biggest lender Deutsche Bank tumbled Tuesday over fears it may be tied to a money laundering scandal at Danske Bank.Stock in the Frankfurt institution shed 4.6 percent by 4:10 pm (1510 GMT) to trade at 8.17 euros ($9.30), against a DAX index of German blue-chip firms down 2.0 percent.The stock had earlier…
Republic plebiscite gathers momentum
Australia’s Republic Movement believes appetite for a change in head of state will only continue to grow following plans for a national plebiscite. The movement’s director Michael Cooney has called Labor’s intentions to put $160 million towards a plebiscite on the issue, if it wins government, as a ‘huge step forward’. He said Australians needed…
CommSec Daily Report Wednesday
Latest newsAussie shares are a touch higher for a fourth day, with the ASX 200 up 0.25 per cents thanks mostly to the financial sector. The big picture remains little changed however, with the local market down 6.5 per cent in October and on track to have the worst month in three years. It has…
Roger David menswear enters administration
Roger David is in the hands of administrators after the menswear retailer collapsed in the face of competition from international and online rivals. The 76-year-old chain, which employs more than 300 staff nationwide across 57 stores, will operate through the Christmas retail period but is now under administrators KordaMentha. ‘Despite the directors’ best efforts with…
The Week Ahead
Surveys of business and consumer sentiment are amongst the key indicators to be released in Australia over the week. The Reserve Bank features also in new reports, economic data and speeches.In the US in the coming week the focus is on inflation readings. On Monday, the Columbus Day holiday isrecognised in some states.Meanwhile politically-sensitive trade…
ASIC increases scrutiny on initial coin offerings
The Australian Securities and Investments Commission (ASIC) has opted to start taking action against what it termed “misleading” initial coin offerings (ICOs) aimed at retail investors. The corporate watchdog had been keeping its distance from the current world of digital currency trading. However, the recent proliferation of ICOs has forced ASIC to take a stance….
Exports boost Canadian economy to best growth in a year
Canada’s GDP has surged in 2018 during the second quarter as the North American nation posted the best economic results for a year. A double boost of increased exports and a rise in consumer spending has precipitated the increase, which comes at a helpful time for Prime Minister Justin Trudeau as his country navigates the…
