Monthly Archives - August 2020

ASX set to dip despite Wall St gains

05 Aug 2020 - Wall Street ended on a high note with the Energy sector lifting. Apple is still tracking gains after its strong quarterly report last week. The US government stimulus package for coronavirus relief is still weighing in on investors. Woolworths (ASX:WOW) will shut its 22 BIG W stores in metropolitan Melbourne for six weeks as part of the Victorian Government’s forced closures of non-essential retail stories due to lockdown restrictions.

Read more...

RBA holds rates: Aus shares close 1.9% higher

04 Aug 2020 - The local bourse managed to stay on a positive streak throughout the day after a strong start at the open, easing slightly through the afternoon ahead of the RBA's interest rate decision which remained unchanged amid the current climate. Wesfarmers (ASX:WES) has been forced to shut its Target and Kmart stores in the Melbourne metropolitan region during the stage four restrictions in Victoria due to Covid. Afterpay (ASX:APT) has raised $136 million from retail investors...

Read more...

Retail resilient despite shutdowns: Aus shares 2.1% higher at noon

04 Aug 2020 - The ASX lifted at the opening bell, rising more than 2 per cent to above 6,000, fuelled by tech stocks and a lift in the major banks. All sectors are in the green, even though retail faces a tough term ahead as non-essential bricks-and-mortar stores are forced to shut down in Melbourne for at least six weeks. JB HI-FI (ASX:JBH) will temporarily close its bricks-and-mortar JB HI-FI and The Good Guys stores across metropolitan Melbourne...

Read more...

Victorian businesses assess the imact of stage 4 restrictions: ASX set to leap higher

04 Aug 2020 - There was a strong tech rally in the US overnight pushing the ASX to leap upwards this morning. Overnight Apple Inc. set an all-time high and Microsoft Corp. shares gained despite being embroiled in controversy over the video app TikTok. President Donald Trump wants them to buy the Chinese-owned company in its entirety, and suggested the company should pay the US Treasury as part of the deal. Back home, Reliance Worldwide Corporation (ASX:RWC) is assessing...

Read more...