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03Sep

The Dow surges surges 450 points: ASX poised to open higher

03 Sep 2020 - Following a lift on US markets overnight, the ASX looks set to open higher this morning. The top infectious disease expert in the US, Dr. Anthony Fauci, says that the number of daily coronavirus cases in the United States is currently “unacceptably high.” The US is seeing roughly 40,000 new cases a day, but it needs to bring infections down to 10,000 or less per day, Fauci said. Meanwhile, the Trump administration says it will...

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02Sep

Australia officially in recession: ASX closes 1.8% hgiher

02 Sep 2020 - It has been a positive day of trade for the ASX the local bourse managed to close 1.8% higher. As for the sectors today all were in the green. The Reserve Bank of Australian report a 7% fall in June quarter GDP – the biggest since records started in 1959. Australia is now officially in recession for the first time in 29 years. Lendlease (ASX:LLC) intends to purchase approximately 2,400,000 Lendlease securities on market for...

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02Sep

Economic activity fell 7% in June quarter: ASX tracking 1.6% higher

02 Sep 2020 - The ASX is now tracking 1.6% higher. Shares in IOOF Holdings (ASX:IFL) dropped. They announced this morning that they had completed the institutional component of their capital raising to partly held fund the acquisition of NAB’s MLC. All sectors are in the green. Western Areas (ASX:WSA) is pleased to announce the maiden ore reserve for its AM6 deposit.

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02Sep

Health advisors predict four coronavirus vaccine trials could fail: The ASX is poised to open higher

02 Sep 2020 - The ASX looks set to edge higher this morning after technology stocks boosted Wall Street ending another record-breaking session. Tesla’s shares saw a record rise yesterday, the company have now decided to sell up to $5 billion in stock. Still in the US, a group advising US health officials has predicted that four late-stage coronavirus vaccine trials backed by the United States could fail to provide positive results. The Gentrack Group (ASX:GTK) is pleased to...

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01Sep

RBA keeps interest rates steady at 0.25%: ASX closes 1.8% lower

01 Sept 2020 - It hasn’t been a great start for September for the Australian share market. After a drop at the open, the market failed to gain momentum, closing 1.8% lower. The Reserve Bank of Australia has held official interest rates at a record low 0.25%. Shares in QBE Insurance Group (ASX:QBE) dropped after the announcement of the shock departure of its CEO. As for the sectors today, all of them closed in the red.

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01Sep

Current account surplus hits $17.7 billion: ASX tracking 1.7% lower

01 Sept 2020 - The ASX dropped at the open and is now tracking 1.7% lower at noon. Shares in Costa Group (ASX:CGC) are on the rise today. Shares in QBE Insurance Group (ASX:QBE) dropped today after the announcement the CEO was stepping down. Shares in Afterpay (ASX:APT) also dropped today. Aurizon (ASX:AZJ) welcomes today’s decision by the Queensland Court of Appeal to dismiss an appeal surrounding the Wiggins Island Rail Project.

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01Sep

Reserve Bank rate decision due today: ASX poised to open lower

01 Sep 2020 - Following mixed trade in the US, the ASX looks set to start the month of September lower. September is not always the best month for stocks historically, and with the US election looming we could see some volatility this month. One company to excel during the corona period is Zoom - their shares rose as much as 25 per cent yesterday - they raised their full-year guidance significantly. TikTok has chosen a bidder for its...

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31Aug

AUD rally decelerates after reaching 1.5-year high: ASX closes 0.2% lower

31 Aug 2020 - The Australian share market finished lower despite promising signs of an afternoon rally after midday. Meanwhile, the Australian dollar reached a 1.5-year high this morning, surpassing the 73.8 cent mark for the first time since December 2018. This was a response to the release of private sector profitability and borrowing data. However, the rally decelerated after Midday, on the back of the US dollar strengthening.

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31Aug

Aus shares to start the week lower: IOOF to acquire NAB’s wealth business

31 Aug 2020 - The local market is expected to start the week lower as earnings season comes to a close. The reporting season has been the worst since the last recession in terms of earnings, the focus on earnings has also led to underperformance in the ASX which is lagging behind Wall Street, with the S&P500 and the Nasdaq both hitting record highs on Friday. All eyes will be on IOOF (ASX:IFL) today following media reports in...

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