India Follows Wheat Ban with Sugar Cap
After its wheat export ban, India has now capped sugar exports to safeguard its own supplies and ease inflationary pressures which threaten to trigger rising social unrest.
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Mining Morsels: PLS, CHN
Plenty of action on Wednesday in the always interesting local mining sector. Here is the latest from strategic metals producers Pilbara Minerals and Chalice Mining.
Read MoreIndustrials Intel: CGC, FPH, ALQ
Things were also busy across in the ASX Industrials sector. Here’s some news released during the Wednesday session by Costa Group, Fisher & Paykel Healthcare and ALS Ltd.
Read MoreMore Tough Love from RBNZ as Rates Go Up Again
No messing about with inflation across the Tasman as the RBNZ revealed its second 0.50% increase in the official cash rate, taking it to 2% – the highest it has been for six years.
Read MoreWall Street’s Crackle Popped by Snap
The hint of a steadier tone on Wall Street was ended by another surprise from the techs when Snap revealed a weak outlook on Monday after trading ended.
Read MorePushpay Officially in Play after BGH Approach
BGH Capital has made an approach to payments group Pushpay after securing a 20% pre-bid stake and confirming that it and another shareholder are working on a bid proposal.
Read MoreChalice Goes to Market for $100m Julimar Push
Chalice Mining is after a $100 million equity top up to help finance the company’s big push at its exciting Julimar prospect in WA towards a massive new global rated mining operation.
Read MoreHints of the Fading Boom Creep into McGrath Result
Buried in Monday’s update from Sydney-based real estate agency McGrath Limited were strong hints of the bloom going off the boom in the local property and housing market.
Read MoreTechnologyOne Transition Paying Dividends
Brisbane-based TechnologyOne says it has completed its transition to a software-as-a-service company as revenue leapt 19% in the March half and the dividend was boosted 10%.
Read MoreNo Fallow Ground for Elders in Solid Result
Shares in rural giant Elders jumped 11% at one stage yesterday after a strong result for the six months to the end of March that also saw the company lift its full year earnings guidance.
Read MoreFirst Tick for Albo as AAA Credit Rating Confirmed
The change of government went off without the horses stampeding the ASX yesterday, helped by ratings group S&P Global reaffirming its AAA stable rating for the local economy.
Read MoreTwo Heads Better than One for Incitec
Incitec Pivot is joining the now fashionable corporate ‘divorce’ trend, yesterday revealing a plan to spin off its mining explosives division from its fertiliser business by mid-2023.
Read MoreCodan Shares Surge on Surprise Upgrade
Advice to the ASX on Monday that the company now expects record profits for FY 2021-22 saw shares in Codan jump back to the levels they were at in early February.
Read MoreCommodities Corner: Renewed Focus
The main impact of the Australian election result will be to underline the continuing importance of green products to future growth as climate change policies and spending move to centre stage.
Read MoreOut of the Teal World and into the Real World
The local share market will likely assume a wait-and-see mindset this week as the ALP takes power and all the talk and promises from the campaign trail fall into or out of place.
Read MoreMonday Market Minutes: The Bear Facts
In Australia it will be the usual post-election speculation before attention switches back to the US and the way Wall Street is travelling as another week of reports from retailers looms large.
Read MoreDiary: On with the Show, This Is it
While the local focus and headlines will likely be on Saturday’s Federal election result and what it means moving forward, all things business and economics will continue unabated.
Read MoreEarnings Round-Up: Retail Therapy
After last week’s US retail shockers, this week’s reports from some of the lesser lights assume greater importance, especially after another weak result on Friday from discount chain Ross Stores.
Read MoreChinese Property Sector Slip Slidin’ Away
China’s collapsing housing sector is like a slow-moving train wreck – everyone knows what the situation is but no one is game to pull on the emergency cord to try and avert a disaster now well underway.
Read MoreNuggets Galore from the Local Resources Sector
While investor attention remains focused on inflation and interest rates, activity continues to burble on across Australia’s resources sector. here’s some news from around the traps.
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Where are All the Chairs Now the Music Has Stopped?
2022 may come to be retrospectively regarded as the mess we had to have. Are there any safe havens left in the face of soaring inflation and volatile markets? If so, they sure are hard to find.
Read MoreWoolies Takes Controlling Stake in MyDeal
Woolworths has offered to buy an 80% controlling stake in the online department store business MyDeal for $271 million, or $1.05 a share cash.
Read MoreSmall Net Gain in Jobs as Labour Shortage Persists
Despite only showing a net gain of 4,000, 92,400 new full-time jobs were created and 88,400 part time jobs ended in April – presumably as most of the latter became the former.
Read MoreMerger Approved, Climate Dissent at Woodside AGM
Woodside shareholders approved the $63bn merger with BHP Petroleum on Thursday while at the same time delivering a strong rebuke to management over the company’s climate policy.
Read MoreBourse Discourse: WEB, NUF
Thursday’s ASX rout made it a tough day to be releasing results, but the show must go on. Here’s the latest from travel firm Webjet and agricultural chemical company Nufarm.
Read MoreMajestic Half Year Helps Aristocrat Buck the Trend
Shares in Aristocrat Leisure managed to ride out Thursday’s battering after the gaming company revealed a solid rise in revenues, earnings and dividend for the six months to March.
Read MoreSellers Target the Street with Gusto
Another tough trading day in store as US markets collapsed, triggered by weak numbers from retail stalwart Target.
Read MoreReal Wages a Case of For Richer, for Poorer
While today’s April jobs data will be solid, it won’t offset the disappointment in another quarter of weak wages growth which has left most of us even further behind the inflationary curve.
Read MoreTwiggy Back Atop the Tree in Fortescue Restructure
Andrew Forrest will once again take the reins at Fortescue as part of a restructuring that will see its green energy business Fortescue Future Industries gain equal ranking at board level.
Read MoreUS Funds’ Cash Holdings Highest Since 9/11
The Bank of America May survey shows investors are currently hoarding cash at the highest rate since 9/11 in a reflection of “extremely bearish” sentiment among asset managers.
Read MoreWednesday Whispers: BSL, BLD, APE
A fair bit of news around the ASX on Wednesday, and here’s all the latest from steelmaking giant BlueScope, Kerry Stokes-controlled Boral and local automative retailer Eagers.
Read MoreWall St Ignores Walmart, Fed to Close Higher
Wall Street ignored the shock slide in quarterly earnings from Walmart and yet another warning from an increasingly hawkish Fed chair Jay Powell to post a second straight gain.
Read MoreTrading Tidbits: MSV, UMG, OZL / HAV
It was a case of The Good, the Bad and the Ugly on Tuesday for miners Havilah Resources and OZ Minerals, distiller United Malt Group, and drilling contractor Mitchell Services.
Read MoreBerkshire Filing Makes for Fascinating Reading
Even though Berkshire Hathaway got plenty of publicity for some of their moves in the March quarter, the fund manager’s filing with the SEC revealed more intriguing dealings.
Read MoreJames Hardie’s Upbeat Talk Falls on Deaf Ears
A chunky dividend payout and plenty of upbeat talk from James Hardie couldn’t stop its share price weakness continuing, with the stock falling more than 3% in Tuesday’s ASX session.
Read MoreCaveat Emptor as the Brambles Plot Thickens
Just a day after Brambles did the right thing and confirmed media reports of a takeover approach from private equity firm CVC, the vulture has flown the coop, blaming ‘market volatility’.
Read MoreWheat Trades Limit Up after Indian Export Ban
As expected global wheat prices jumped sharply Monday in the wake of Indian’s surprise ban on exports of the key grain from last Saturday.
Read MoreCooper Barrelling Along Nicely, Ups Guidance
Shares in Copper Energy jumped sharply yesterday after it lifted its earnings guidance nearly 10% for the year to June because of the lift in global gas demand and prices.
Read MoreBrambles Shares Surge on Takeover News
Shares in logistics multinational Brambles jumped more than 11% in Monday’s ASX session after it gave notice of a takeover approach from offshore private equity company CVC.
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