Markets

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 […]

ASX faces end-of-financial-year tumble as global markets slump

ASX faces end-of-financial-year tumble as global markets slump

Stand by for a rough day on the local market with the ASX poised to drop more than 1 per cent on opening, as global markets suddenly lost their appetite for risk overnight. Markets at 7:15am (AEST): ASX SPI 200 futures -1.16pc to 5,710 AUD: 76.81 US cents, 59.05 British pence, 86.15 Japanese yen, 67.12 […]

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