Weekly Wrap

The Reserve Bank left rates on hold for another month and maintained its anti-inflation stance at its latest meeting on Monday and Tuesday.

Each week The Last Word will offer a review of the week's events and their impact on the markets.

As expected, the Bank of England held rates steady at 5% during its meeting on Thursday, despite some enthusiastic traders attempting to promote the idea of a rate cut following the Federal Reserve’s half a per cent reduction the day before.

Equities jumped, then sagged, as did gold, as the seismometer of economic uncertainty played it safe following the Fed’s surprise half-per-cent cut in its Federal Funds Rate.

From an all-time high earlier this month to the longest fall in 15 years, Berkshire Hathaway and Warren Buffett have experienced the highs and lows of stock market life over the past 12 days.

A second rate cut in Europe and one next week for the US – the pace of central bank policy easings is accelerating.

August was a good month for global electric vehicle sales, except in Europe.

In the midst of a volatile yen crisis, a global carry trade sell-off, and anticipation surrounding the Jackson Hole symposium, global physically-backed gold ETFs continued to show confidence in the precious metal during August, adding another US$2.1 billion in inflows. This marked the fourth consecutive month of positive inflows, with Western funds standing out, according to a World Gold Council (WGC) survey.

The much-anticipated wave of gold sector consolidation is finally gathering momentum. While some notable deals, such as Newmont’s $19 billion bid for Newcrest last year, have made headlines, mergers and acquisitions in the gold space have been relatively sporadic. However, AngloGold Ashanti’s recent £1.9 billion bid for UK-listed Centamin signals that pressure for consolidation is mounting.

Has the Reserve Bank’s "control inflation at all costs" approach caused it to miss the chance to ease pressures on the economy?

Enthusiasm surrounding artificial intelligence (AI) is overshadowing broader struggles across the technology sector, with many companies still grappling with the slowdown that began in 2022, according to investors and recent financial reports.

Moody's Ratings says in a new report that Australian listed companies (carrying Moody's ratings) ended the June 30 fiscal year in good shape. They expect these companies (like BHP, Scentre, Dexus, Santos, Woolworths, Coles, Wesfarmers, Brambles, CSL, BlueScope Steel) to weather the economic slowdown.

The OPEC+ oil alliance has blinked, delaying a planned easing of production cuts as global oil prices continue to slump.

Gold prices are hovering near record highs above $2,500 per ounce, making it a standout year for gold enthusiasts. However, one top investment strategist suggests the precious metal’s impressive run may soon come to an end.

From the December 2024 half-year, Target will cease to exist as an independent entity in terms of its sales reports within Wesfarmers' public reporting.

After-hours trading can often be a volatile time in the US stock market, as companies release their earnings reports and investors react to the results. The most recent session was no exception, with several major companies making significant moves following their earnings announcements.