Vittorio Hernandez

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Vittorio Hernandez completed a degree in Economics and studied Public Administration, as well as Development Communication. He has been writing business and general news for various publications for decades now. He joined IBTimes Australia in September 2011. He may be reached at v.hernandez@ibtimes.com.au.

@vitthernandez ibtimesau

Global Markets Overview – December 23, 2014

The Santa Clause rally is rolling on in global equities with sentiment remaining positive as the S&P marches towards its record high yet again. The S&P closed at a record 2077 and is within a couple of points of its December 5 intraday record high of 2079. The bounce in crude oil prices seems to have been a flash in the pan with investors finally realising that comments by OPEC members from the weekend did not imply they will look to correct the current supply situation. In fact, Saudi Arabia se...

Rich Russians Flee As Country Moves Toward Recession

Like their Chinese counterparts who snapped up properties in London, New York, Sydney and other global cities when Beijing imposed cooling measures on its red-hot real estate market, uber rich Russians are abandoning ship.

Australian Stock Market Report – Afternoon December 22, 2014

Australian shares improved for the fourth straight day with the ASX 200 Index up 1.9 per cent and finishing near intraday highs. Generally markets are quiet as we approach Christmas; however a surge in oil and iron ore prices on Friday have helped both energy and mining industries gain strongly.

Australian Stock Market Report – Midday December 22, 2014

The ASX 200 has started a holiday shortened week in the same fashion it ended the previous week; with solid gains. At lunch on the east coast the index was close to the best levels of the day. Local stocks pressed ahead on the back of gains for US stocks at weeks end, which capped off an encouraging week on Wall St. After being up 96 points, the Dow Jones finished higher by almost 27 points or 0.2%. The S&P 500 index rose by 0.5% while the Nasdaq lifted by 17 points or 0.4%. For the week, the Do...

Global Markets Overview – December 22, 2014

Markets ended last week on a positive note with the post-FOMC meeting bid tone continuing to resonate through the globe. The rebound in oil prices also helped underpin sentiment to an extent. While equities drifted higher, there were some notable moves in the fx space with the greenback gaining significant ground against the euro and yen. EUR/USD plunged to $1.222, breaking below its early December lows and now trading at its lowest sinceJuly 2012. The main event for Europe this week will be Gre...

Apple Co-Founder Steve Wozniak To Acquire Australian Citizenship

Steve Wozniak, the co-founder of technology giant Apple, is on the path toward Australian citizenship. Over the weekend, he moved one step closer to becoming Aussie by becoming a permanent resident, which was granted to him because he is a distinguished person.

Australian Stock Market Report –Afternoon December 19, 2014

Australian shares completed a trifecta of winning days on Friday, closing around the best levels of the session. Over the course of the last week the ASX 200 has risen by almost 2.3 % , balancing the loss of the pre-ceeding week when the market fell by almost 2.2%.

Australian Stock Market Report – Morning December 19, 2014

In US economic data, the Conference Board's Leading Economic Indicators Index rose by 0.6% in November after a similar lift in October. The index is up 6.1% on a year ago. The Philadelphia Fed Index fell from the outsized 40.8 gain in November to 24.5 in December. US jobless claims fell from 295,000 to 289,000 in the past week.

Australian Stock Market Report –Afternoon December 18, 2014

The local sharemarket has finished firmly in the black, following a strong lead from European and US markets. The S&P 500 enjoyed its best one day gain in a year, after the US Federal Reserve signalled it was on track to raise interest rates next year - reinforcing the strength of the US economy. That positive lead helped the All Ords finish up 1 percent to 5,189.

Australian Stock Market Report – Midday December 18, 2014

The Australian share market opened the session with a solid gain for the second consecutive session on the Thursday. The strong tone for the first half of the session came in the wake of similar gains for US and European markets in the last 12 hours. US share markets rallied sharply after the Federal Reserve gave a strong signal that it was on track to raise interest rates at some point next year - pointing to confidence in the US economy. At the close of trade, the Dow Jones was up by 288 point...

Australian Dollar Outlook – December 18, 2014

The Australian Dollar has dipped suddenly to USD 0.8120 following headlines the FOMC had dropped the "considerable time" phrase with respect to its guidance on interest rates, and instead deciding it could be "patient in beginning to normalise" policy.

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