Markets

ASX rises 0.7pc as momentum builds

ASX rises 0.7pc as momentum builds

Investors poured into miners and banks on Tuesday, extending a powerful upswing and pushing the benchmark index further above its recent tight trading range.  The benchmark S&P/ASX 200 Index climbed 42 points or 0.7 per cent higher to 5889, while the broader All Ordinaries lifted by a similar margin to 5958 points.  The ASX’s hot […]

Wall St rallies because of upward US economic momentum

Wall St rallies because of upward US economic momentum

US stocks rebounded from the biggest selloff since May, while Treasuries fell after unexpectedly strong hiring data bolstered confidence in the American economy, underscoring the Federal Reserve’s case for raising interest rates. Crude fell below $US45 a barrel. ASX futures closed up 10 points or 0.2 per cent at 5661. The Australian dollar was 0.3 per […]

Sirtex shares soar after it unveils $90m writedown

Sirtex shares soar after it unveils $90m writedown

Sirtex Medical has taken a $90 million hit on the value of its clinical and research and development assets and will cut its workforce by 15 per cent as the medical device developer moves to reset its core business for expansion. The company (SRX), whose core technology is a selective internal radiation therapy, also says […]

ASX ends turbulent week lower

ASX ends turbulent week lower

Australian equity markets by Friday gave up the week’s gains, despite enjoying the best day of the year on Tuesday, as a bond sell-off weighed on local equities. The benchmark S&P/ASX 200 dropped 55 points, or 1 per cent, to 5704, ending the week 18 points, or 0.3 per cent, lower. The broader All Ordinaries […]

Second setback for Coca-Cola as Dominos choose Pepsi

Second setback for Coca-Cola as Dominos choose Pepsi

Coca-Cola Amatil has suffered another setback after losing a contract to major rival Pepsi/Schweppes to stock soft drinks and bottled water at hundreds of fast-food shops across the nation. The decision by pizza giant Domino’s to switch drinks suppliers is the second recent blow for Coca-Cola Amatil, after Woolworths refused to stock its latest product, Coca-Cola No […]

ASX shudders as Korean tensions rise

ASX shudders as Korean tensions rise

Sabre-rattling over North Korea’s missile program sent investors seeking out safe haven assets such as gold and the Japanese yen on Wednesday, but strong performances in the mining sector helped keep the ASX’s losses small. The benchmark S&P/ASX200 opened in the black but lost ground in choppy trade to finish down 0.3 per cent, at 5763.3 points. […]

Market movers & Stock of the day

Market movers & Stock of the day

Stock of the day: Sonic Healthcare Sonic Healthcare shares took a hit, after Bank of America Merrill Lynch cut the stock to ‘underperform’ and lowered its price target to $22, from $22.90, citing the risk of lower fees. Shares fell 3.9 per cent to $23.34, moving further away from an all-time high of $24.58 they […]

Retail investors keep faith in Bellamy’s and back $60 million capital raising

Retail investors keep faith in Bellamy’s and back $60 million capital raising

Bellamy’s said on Tuesday that 79 per cent of the allocation went to retail investors which equated to $37.9 million, underwriters picked up the remaining 21 per cent which equated to $7.8 million. Dairy company Bellamy’s is six months into an 18-month turnaround strategy. Photo: Kate Geraghty The shares were offered to retail investors, at a price […]

Banks drive ASX’s best day in 2017

Banks drive ASX’s best day in 2017

Banks drive ASX’s best day in 2017 Shares had a blistering session on Tuesday, gaining $28 billion in value as banks and consumer discretionary plays led the market to its best day of the year. Investors scooped up financial stocks after a few weeks of savage selling, helped along by news the South Australian Liberals will block the state’s bank […]

Surprise retail sales figures light fire under consumer stocks

Surprise retail sales figures light fire under consumer stocks

Surprise retail sales figures light fire under consumer stocks A surprise jump in retail sales statistics lit a fire under Australia’s beleaguered discretionary retail stocks on Tuesday, making them some of the best performing companies on the ASX’s best day of the year so far. Gain were enjoyed across the sector as JB Hi-Fi shares […]

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