China Becoming Crypto’s Kryptonite
China whacked cryptocurrencies hard again on Friday, but this time the comments were aimed at sector leader Bitcoin and the risks it and its competitors pose to the country’s financial stability.
Read MoreChina whacked cryptocurrencies hard again on Friday, but this time the comments were aimed at sector leader Bitcoin and the risks it and its competitors pose to the country’s financial stability.
Read MoreIron ore fell sharply again on Friday, pushing prices into correction territory, and other majors were weaker as well with the exception of gold, which rose 2% for the week.
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Read MoreThe US Treasury has thrown a major obstacle at cryptocurrencies like Bitcoin by demanding that all transactions of $US10,000 and above have to be reported to the US tax department, the IRS.
Read MoreAs Schroders’ Stuart Dear explains, fixed income is in something of a holding pattern as yields consolidate after the recent move higher and inflationary pressures continue to build.
Read MoreOnly in Hollywood could a deal that sees the creation of a new player out of two existing groups be pictured as a dramatic twist but that’s what we saw this week with the AT&T-Warner Media – Discovery shuffle.
Read MoreAustralia will lose share to Brazil in the global iron ore market over the next five years because of the latter’s high grade reserves and exports, according to a new report from Fitch Solutions.
Read MoreBig global investors continue to be nervous about higher inflation but that isn’t stopping them remaining very bullish about the outlook, according to the Bank of America Global Fund Manager Survey for May.
Read MoreThe Australian sharemarket edged higher in uninspired trade on Friday, to lift by ~0.25% this week. Mining and energy stocks remained the hardest hit sectors with Kogan.com sliding by 14% after warning of lower profits.
Read MoreThe Australian sharemarket has dropped into negative territory from this morning’s encouraging start, with losses from mining & energy sectors spreading to other areas of the market.
Read MoreASX200 up 14 points (0.2%) to 7033. Sydney Airport (+1.6%); AGM today. Said it will only issue guidance if there is “reasonable clarity” on any international travel.
Read MoreKogan.com, one of the tech sector’s leaders, sharply downgraded June 30 earnings forecasts on Friday because of a slew of problems that have worsened as the year has gone on.
Read MoreThere were gains in technology megacaps Apple (+2.1%), Microsoft (+1.4%) and Tesla (+4.1%) powering the advance. Shares of Ford rose 3.1% on plans to create a joint venture to manufacture electric vehicle batteries.
Read MoreDespite the prospect of more red ink, Qantas shares rose yesterday as investors liked the news of an upsurge in domestic travel, peaking debt, more job cuts and a two-year wage freeze.
Read MoreInvestors took Nufarm shares higher yesterday, despite a clear warning that second half earnings will come in much lower than those for the six months to the end of March.
Read MoreAs Australia’s jobless rate eased to a post-Covid low of 5.5% in April from March’s revised 5.7%, Qantas revealed plans to add to the pool of unemployed and freeze wages for two more years.
Read MoreWhile equity valuations appear elevated, GAM Investments’ Julian Howard suggests that the asset class could be considered appealing on an absolute basis in the right context.
Read MoreWhile meat and cattle sales were lower at Australian Agriculture Co in 2020-21, the beef giant still managed to boost its profit as the price for Wagyu beef rose.
Read MoreJoe Foster from VanEck Investments digs deep into the current elements at play in the gold space and how they have spilled over into other mining and resource sectors.
Read MoreThe Australian sharemarket finished near an intraday high, rising by 1.27% and recouping a healthy portion of Wednesday’s declines. With the exception of some losses from mining stocks, most areas of the market finished higher.
Read MoreThe Australian sharemarket is lifting by close to 1%, recouping a little more than half Wednesday’s losses and receiving a boost from this morning’s mixed employment report.
Read MorePresenter – Mike Rosenstreich – Managing Director, Geologist – Helix Resources Limited is a minerals exploration company focused on the development of Collerina Copper and Cobar Gold Projects in Central NSW.
Read MoreCopper prices fell more than 3% on Wednesday after China said it will strengthen its management of commodity supply and demand and crack down on any “unreasonable” increases in prices.
Read MoreNot surprisingly, there’s more red ink at Qantas, with the airline forecasting a loss of more than $2 billion for the year to June.
Read MoreInvestors digested the minutes from the April 28 Federal Reserve meeting. Energy and materials sectors led the declines. But shares in Target rose 6.1% after first quarter sales topped Wall Street estimates.
Read MoreThe great crypto rout continues with Bitcoin shedding 30% amid fears that Chinese regulators would intensify a crackdown on financial institutions using digital tokens.
Read MoreShares in AI services provider Appen bounced back with a strong relief rally to close up 17% at $13.20 on a day when the wider market suffered its biggest selloff since February.
Read MoreGrainCorp spin-off United Malt Group says its first half revenue and profit was sapped by COVID lockdowns that forced widespread retail closures and lower in-venue alcohol consumption.
Read MoreYesterday’s weak WPI data met expectations and today’s jobs data will likely confirm that the ending of JobKeeper has done little to interrupt the employment rebound.
Read MoreMore losses for online travel and accommodation agency Webjet have underlined the sector’s continuing problems with the pandemic and closed borders with a result again strewn with red ink.
Read MoreEdmund Leung from First Sentier Investors looks at various geographies where COVID-19 is largely under control, to consider what the new-normal might look like for various infrastructure sectors.
Read MoreShares in EML Payments lost more than 40% of their value when it confirmed media reports that a business it bought in Ireland had major problems with a key regulator.
Read MoreSt Barbara has disappointed the market with another downgrade to gold production guidance, although some believe this will be the low point.
Read MoreLiberty Financial has bright prospects, amid a rebound in mortgage lending and more concentrated areas of risk, even if credit conditions tighten again.
Read MoreThe local market was awash with red as the ASX 200 slumped 1.9% or 134 points, suffering its worst decline in close to 3-months. Every sector closed in negative territory with close to 90% of the top 200 stocks in decline.
Read MoreBell Potter analyst Hayden Nicholson updates developments in the LIC market. This week: Dissecting the fee structures of LICs and LITs
Read MoreASX200 down 104 points (1.4%) to 6963. Appen (+10.8%); announced an overhaul of its organisational structure.
Read MoreWalmart has kicked off retail earnings week with a second quarter performance that beat expectations and saw it boost its full year guidance.
Read MoreKathmandu Holdings ran a global search for its new CEO to replace the departing Xavier Simonet and found the candidate at home – literally.
Read MoreShares in Walmart rose 2.2% after raising its full-year earnings forecast. Shares in Home Depot fell 1.0% despite posting same-store sales above estimates. A fall in housing starts weighed on home builders.
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