federal budget

Sell off continues despite budget, Qantas tanks on flight delays, CBA delivers  The ASX200 (ASX:XJO) fell 0.7%, the second straight negative session, pushed lower by utilities and energy companies, down 2.2% and 2.0% respectively. The Federal Budget which offers little in the way of future spending or policy direction was broadly in line with expectations, the deficit lower than…

Aussie fund manager gives Budget an ‘F’ for FAIL The head of the Australian wealth and superannuation manager Nucleus Wealth, Damien Klassen, has drawn a pointed analysis of the Morrison/Frydenberg budget strategy. “The budget misses the mark big time by focusing on the supply side of the economic equation when in fact the biggest issue…

ASX broadly flat, retail sales decline again, TPW smashed, flat lead The ASX battled to a flat finish on Wednesday, adding 0.1%, with gains in energy and financials offsetting weakness in the consumer sectors.  Retail sales results were released with every state apart from the NT falling in September, national sales were down 1.5%.  This was the second…

ASX lower as mining and financials hit, Afterpay Ltd (ASX:APT) hits $100, RBA Minutes released The ASX 200 (ASX:XJO) fell 0.7% on Tuesday, giving back yesterday’s gains on a weaker global lead. Mining, down 1.1% and financials, -1.2%, were the biggest detractors as valuations continue to bite. BHP Group Ltd (ASX:BHP) offered a quarterly production update…

ASX 200 hits seven month high, CSL (ASX:CSL) bounces, Cimic (ASX:CIM) sells Thiess, weaker open ahead The ASX 200 (ASX:XJO) rallied 0.9% to start the week, buoyed by the hope of Victorian economic restrictions being lifted at the end of the month.  The index has reached a seven month high as a confluence of domestic…

Another positive week for global markets, property sinks, reality setting in for Atlas Arteria (ASX:ALX) It was another positive week for global markets, the ASX 200 (ASX:XJO) finishing 1.2% higher despite falling 0.5% on Friday. Similarly, US markets have overcome the ‘will they or wont they’ stimulus discussions, with the S&P 500 and Nasdaq up 0.2%…

RBA planning more QE, ASX rallies, Virgin CEO out, US markets pare falls The ASX 200 (ASX:XJO) rallied 0.5% on a mixed day.  The key result today was a slightly better than expected unemployment result, the rate increasing to 6.9% despite Victoria shedding another 1.1% of jobs.  Queensland stands out with the highest level of unemployment at 7.7%…

It ends at seven, ASX falls 0.3%, Bank of Queensland surprises, US falls offering weaker lead The ASX 200 (ASX:XJO) couldn’t keep its unbeaten run going, falling 0.3% on Wednesday, overcome by a combination of factors.  The materials sector was among the biggest detractors, falling 0.9% after the unexpected announcement overnight that Chinese steel mills were ordered…

Seventh heaven, China bans coal, Telstra (ASX:TLS) dividend boost, US markets fall The ASX 200 (ASX:XJO) reached its highest point in seven months, passing 6,200 points after improving 1.0% on Tuesday. This takes the rally to seven straight days with all sectors except materials finishing higher. The financial sector continues to outperform as economic conditions…

Markets have strongest week in months, ASX up 5.4%, S&P 500 up 3.9%, stimulus on again The ASX 200 (ASX:XJO) delivered its strong week since April, finishing 5.4% higher despite finishing flat on Friday. It was a similar story in the US, with the S&P 500 adding 0.9% on Friday and 3.9% for the week. The…