Evolution full-year profit jumps
Evolution Mining has lifted full-year profit 21 per cent to $263.4 million, helped by the sale of its Edna May gold mine in Western Australia for $90 million. Revenue for the 12 months to June 30 rose 4 per cent to $1.54 billion, due to the strong performance of its Ernest Henry mine in Queensland…
Argentina markets struggle as corruption scandal widens
The Argentine peso is continuing to face difficulties because of a widening corruption scandal that is gripping the South American nation. This scandal led to the arrest of over a dozen former government officials and business executives. The news has come at a difficult time for Argentina, whose markets are in jeopardy after building up…
CommSec Daily Report Monday
Latest newsAussie shares are under some pressure on Monday, easily wiping out last week’s modest improvements with most sectors in negative territory. The ASX 200 is down 0.9 per cent with almost all sectors losing ground. While local stocks remain near 10.5 year highs, trade tensions between the US and China are keeping markets on…
White House legislative director Marc Short departs
An economic advisor to President Donald Trump will take over as the White House’s top legislative director, replacing Marc Short who on Thursday became the latest senior aide to exit the administration.In the middle of a heated Senate confirmation battle over Trump’s pick for the US Supreme Court, the White House announced that Shahira Knight,…
Atlas unanimously recommends Rinehart bid
Atlas Iron’s board has unanimously backed Gina Rinehart’s $390 million takeover bid for the junior miner. Ms Rinehart’s Hancock Prospecting had emerged last week as the likely winner of the battle for Atlas, trumping a previously recommended bid by mid-tier player Mineral Resources. Atlas Iron recommends shareholders accept the Hancock offer, subject to an independent…
Harsh Trump trade policies weigh on US CEO sentiment
Worries among US businesses over President Donald Trump’s aggressive trade policies are beginning to affect CEOs’ outlooks on hiring and capital spending, according to a survey released Tuesday.The survey by the Business Roundtable, which represents giant US corporations, still showed broad confidence in the US economy. But the index fell for the first time in…
Migration key driver behind 1 million jobs
Immigration was a key driver in the creation of one million jobs in Australia over the past five years, a Senate committee has been told. The Turnbull government loudly trumpeted reaching the jobs milestone last week, describing it as an excellent outcome for Australian workers and families. Former prime minister Tony Abbott set the benchmark…
Stocks to watch
Stocks to watch on the Australian stock exchange: CBA – COMMONWEALTH BANK – up 27 cents, or 0.4 per cent, at $70.80 Commonwealth Bank chief financial officer Rob Jesudason has resigned after less than a year to become chief operating officer of the firm behind the world’s fifth-biggest cryptocurrency. DOW – DOWNER EDI – up…
Australia markets to open slightly down
Australian markets are expected to open slightly lower after the US-led attacks on Syria and much of the focus in the coming week will be on overseas events and data. Share futures were down six points after the benchmark S&P/ASX200 index on Friday closed 13.6 points, or 0.23 per cent higher, at 5,829.1 points, while…
Petrol up 10% over December quarter
Petrol lifts 10 per cent over the past quarterWeekly petrol pricesPetrol: According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose by 0.9 cents last week to 137.6 cents a litre. Inflation boost: Petrol rose by 10 per cent in the December quarter and this will add around 0.35 percentage…
