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05Aug

Gold tops US$$2,023:Aus shares close 0.6% lower

05 Aug 2020 - The Australian share market has been flat all day after dropping at the open. The big banks fell today, while the miners kept afloat. On the commodities front, we’ve seen gold top a record at US$$2,028. Virgin Australia (ASX:VAH) announced plans to slim down staff to 6,000 when travel resumes, while cutting about 3,000 jobs to go to new owners Bain Capital. Telstra (ASX:TLS) has entered an agreement to sell its data centre in Clayton,...

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05Aug

Aus shares 0.9% lower at noon despite gold surge

05 Aug 2020 - The Australian share market dropped at the opening bell as expected and has faltered to an almost 1 per cent fall. This comes despite a surge in gold and a rally in the mining sector, but that isn’t enough to keep the markets in the green today. Village Roadshow (ASX:VRL) continues to negotiate with BGH Capital over its takeover deal, today extending the period for exclusive discussions for a fourth time. Smartpay’s (ASX:SMP) CEO and...

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05Aug

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.

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04Aug

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...

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04Aug

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...

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04Aug

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...

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03Aug

Market flatlines amid tougher restrictions: Aus shares close flat

03 Aug 2020 - After a sharp decline this morning due to a slump in the big banks, the market recovered just before midday lifted by health care and gold producers but and flatlined until the closing bell. The market is unsettled amid stricter restrictions for South Australia announced this afternoon, which comes as more cases emerge, and as Victoria enters a tougher lockdown. Magellan Financial Group (ASX:MFG) announced it plans to consolidate its three core global equities trusts...

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03Aug

Big banks drop: Aus shares flat at noon

03 Aug 2020 - The Australian share market dropped sharply at the open mainly due to the big banks falling but has recovered with a rise in the health sector and is now tracking almost 0.1 per cent higher at noon. The Covid-19 restrictions in Victoria have hit travel companies including Qantas (ASX:QAN) and Flight Centre (ASX:FLT). However, Alliance Aviation (ASX:AQZ) shares are up after expanding its fleet. SEEK (ASX:SEK) will dump its final dividend in an effort to...

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03Aug

US stimulus talks linger: Aus shares to open flat

03 Aug 2020 - US stocks ended higher on Friday with major players in tech rallying, but the Australian share market looks set to open flat at the start of trade today, starting the week off on a quiet foot after closing 2 per cent lower at the closing bell on Friday and seeing a 1.6 per cent weekly loss. Bunnings Warehouse landlord BWP Trust (ASX:BWP) is scheduled to release its full-year results on Tuesday, and look out for...

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31Jul

Mining stocks weigh on market: Aus market closes 1.6% lower over week

31 Jul 2020 - The Australian share market opened on shaky ground today following sour economic news in the US. The US Commerce Department announced overnight that US GDP dropped by a record 32.9 per cent (on an annualised basis) in the second quarter, the worst decline on record. The negative sentiment was contagious, with Aussie investors reversing positions today. We saw a broad-based pull back across all of the sectors, with mining losing nearly 3.1 per cent. Credit...

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