Over the course of Tuesday afternoon the ASX 200 slowly edged higher ending the day up 0.54 per cent at 5292.8 points. In doing so the market was able to make new highs for the session, although the improvements felt as though they were made on shifting sands. The best that could be said for the market at present is that sellers have exhausted themselves, and the index has drifted higher in their absence.
The start to Tuesday's session on the ASX followed a familiar pattern of trade, in that sellers dominated once more. The initial plunge for the index saw a loss of 11 points at the low point of the morning. From the lowest ebb the market recovered to push back into positive territory, albeit rather briefly. A status quo was then established which saw the market pivot around the un-changed level in the late morning trade. The softer tone for the second session of the week was at least consiste...
Air Canada will start offering the Toronto-Amsterdam route beginning June on 2015.
Australia's scientific investments have reached a 30-year low. Experts fear the country will fall behind other nations in terms of R&D capabilities in the future.
Pro-democracy protests in Hong Kong caused the closure on Monday of Standard Chartered and other banks in the administrative region. It were not just over-the-counter services that were closed, even ATMS and cash deposit machines in some areas were also affected.
Australian supermarket giant Coles is figuratively eating humble bread after the federal court ordered it on Monday to place signs for three months that it passed off par-baked bread as freshly baked. In other words, Coles is forced to admit that it used false advertising and was cheating consumers.
Apple sold an impressive 10 million units of iPhone 6 and iPhone 6 Plus 24 hours after it was rolled out simultaneously in 10 countries on Sept 19. But the original #bendgate video that wiped out $23 billion from the value of the Cupertino-based tech giant got almost 46 million hits in 5 days as of Monday night.
The second half of the trading session on Monday provided a little more cause for optimism compared to its earlier counterpart. Buyers finally found some resolve around lunchtime and the ASX 200 was able to recover a solid portion of the early losses. At the best levels of the session the market was down, The ASX200 ending the day down by 0.9 per cent at 5,264.2 points.
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Australia continues to be New Zealand's leading investor with assets worth $115 billion. The New Zealand dollar has fallen to a new low after the central bank expressed its concerns of a possible intervention.
The second half of the session on Friday saw the ASX 200 trade around the lows of the day with a sense that sellers could make an opportunistic move at any time to take the index to new lows. With the losses of recent weeks continuing to mount, the ASX 200 has now seen all of the gains for the year to date erased. At the close of the session the index is now down 1.3 per cent at 5,313.4 points. Corporate and economic news has been limited in recent days. This dearth continued into Friday leaving...
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Friday morning saw a sadly familiar tale play out for the local share market once again. Selling arrived in another wave at the open after a grim session for stocks in Europe and the US overnight. European shares fell sharply on Thursday, hitting one-month lows in late trade. US share markets slumped led lower by a drop in Apple shares. Geopolitical concerns came to the fore after the Russian high court paved the way for the seizure of foreign assets. An ongoing theme was the rising US dollar wh...
A Paraguay bishop accused of shielding a paedophile priest has been sacked by the Vatican.
It was risk off for global equities with investors focusing on geopolitical risk and repricing of fed hike expectations. While both these themes have been known for a while, it seems the fact price action just continues to deteriorate is discouraging investors from jumping back into equities.
In US economic data, durable goods orders fell by a record 18.2% in August after lifting by a record 22.5% in July. The fall was in line with expectation (-18%). Excluding volatile transportations orders rose 0.7% in August. US jobless claims rose by 12,000 to 293,000 in the past week. US flash composite PMI eased from 59.7 to 58.8 in September.
The global insurance industry is bracing itself for a $600 million hit for 2014 in the aftermath of the two Malaysia Airlines tragedies and the seizure by rebels of the Tripoli airport in Libya.
Apple said on Thursday that it would replace all iPhone 6 and iPhone 6 Plus that have bent as a result of placing it inside pants pocket for a period of time.
The influence of the strong session on Wall Street overnight faded over the course of the Asian session in general on Thursday. In form that has become typical for the Aussie market, buyers continued to withdraw over the second half of the day, and sellers retained the edge. This was best reflected in the final result which saw the ASX 200 end with a 6 point gain, having been up as much as 37 points in the first half hour of trade. The afternoon session began with another lunge from sellers as t...
The local share market continued the ebb and flow of recent days. There was a short lived flourish at the open that saw the market with a near 37 point gain at its peak in the first half hour of the session. Buyer conviction then waned and a low for the morning was put in place when the index was up almost 7 points. A level to keep in mind in terms of support for the ASX 200 for the remainder of the week is the area around 5338, which is the low that was made in a push lower during Tuesday's ...
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In US economic data, new home sales surged by a surprising18% in August to a seasonally adjusted rate of 504,000 units - the highest level in six years. Despite the rise in sales the stock of new houses lifted to a four-year high. At August's sales pace it would take 4.8 months to clear the supply of houses on the market.
