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28May

Wall Street grows optimistic on an economy restart: ASX poised to open higher

28 May 2020 - Following a lift from US markets overnight, the ASX looks set to open higher this morning. On Wall Street, optimism grew as more and more companies start to reopen. The Trump administration is considering sanctions on Chinese officials, threatening to escalate tensions between the world’s two largest economies. Back home experts warn many businesses will collapse in September when the JobKeeper allowance is withdrawn. On the commodities front gold and oil both fell. Synlait Milk...

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27May

The big four banks see a huge rally: ASX closes 0.1% lower

27 May 2020 - After a rise after mid-morning trade the ASX took an afternoon slump and closed 0.1% lower. Banks saw a rally today. The ANZ (ASX:ANZ), NAB (ASX:NAB) and Westpac (ASX:WBC) all closed around 8%. Saracen Mineral Holdings (ASX:SAR) shares saw a decline today. Director Raleigh Finlayson has sold 500,000 shares in the company. Resimac Group (ASX:RMC) is pleased to confirm it has priced a $500 million prime Residential Mortgage-Backed Security (RMBS) transaction.

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27May

Constrution work fell in the March quarter: ASX tracking 0.3% lower

27 May 2020 - The ASX dropped at the open, pulled back up in mid morning trade and is now tracking 0.3% lower at noon. Financials is the sector leading the way giving the market a boost, healthcare falling behind. Shares in Southern Cross Media Group (ASX:SXL) did well today, Saracen Mineral Holdings (ASX:SAR) saw a decline. And Challenger Exploration (ASX:CEL) confirms discovery of large-scale gold system.

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27May

Market optimism in the US as more businesses reopen: ASX poised to open lower

27 May 2020 - Despite a rise in US markets overnight, the ASX looks set to open lower this morning. Wall St didn’t reach its session highs but there was optimism as more and more states eased coronavirus restrictions. Major tech stocks were down. European markets could move on the back of a new coronavirus stimulus package. Back home the Government is set to hold a number of consultations on Australia’s industrial relations system ahead of the October Budget....

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26May

Downer EDI (ASX:DOW) wins $450m Fortescue (ASX:FMG) contract: ASX closes 2.9% higher

26 May 2020 - The ASX has recorded its best session in seven weeks as it exits a bear market. The local bourse managed to close 2.9% higher. Afterpay (ASX:APT) shares hit $50 today they close at the $49 mark -a record high. Downer EDI (ASX:DOW) is expanding its relationship with Fortescue Metals Group (ASX:FMG) through the provision of Early Mining and Maintenance Services at Eliwana iron ore mine

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26May

Sandfire Resources (ASX:SFR) shares drop despite pleasing results from Botswana project: ASX tracking 1.9% higher at noon

26 May 2020 - The ASX continued a rise in mid morning trade and is now tracking almost 1.9% higher at noon. Shares in Graincorp Group (ASX:GNC) slipped today as did Sandfire Resources (ASX:SFR) despite yesterday’s announcement of significant results from drilling at it’s project in Botswana. Qube Holdings (ASX:QUB) completed its retail component raising approximately $236m.

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26May

Scott Morrison to outline economic recovery plans: ASX to open higher

26 May 2020 - The ASX looks set to continue the good start to the week by opening higher once again this morning. The US stock market and markets in the UK were closed for public holidays. PM Scott Morrison is set to address to the National Press Club today looking into an overhaul of vocational education to lead the economy out of crisis. Overseas, the US government is likely to impose sanctions on China if Beijing implements national...

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