The near-term pullback in equities continued overnight, with investors focussing on developments in Iraq and a round of surprisingly weaker-than-expected US economic data. Tension in Iraq escalated, while US unemployment claims and retail sales came in below expectations. This gave investors an excuse to sell equities with sentiment relatively risk averse.
In US economic data, retail sales rose by 0.3% in May, short of forecasts for a 0.6% gain. But the April reading was revised up from +0.1% to +0.5%. Import and export prices rose by 0.1% in May. New claims for unemployment insurance rose by 4,000 to 317,000 in the latest week, above forecasts for a reading of near 310,000.
Mineral Resources acquired a 12.8 per cent stake in Aquila Resources, beating China's Baosteel Group in acquiring a bigger stake in a large-scale iron ore project that would develop a $6.9 billion port, rail and mine.
The ASX 200 ended lower for a second day on Thursday with sellers showing preference for the materials sectors, although most sectors ended in the red. The only sector to resist the efforts of sellers was the healthcare index which ended with a gain of 0.1%. Value today was solid with $4.3bln in shares changing hands.
With all the online buzz going on for Galaxy Premiere 2014 Tab, here are five things to expect.
Toyota Motor (TM) Corp. shares are up by 0.3 percent in early market trading, The Street reported.
A growing trend among Aussie home sellers show they prefer foreign buyers over locals
After Belgium and Canada, Australia has ranked the third highest house price-to-income ratio worldwide, according to the International Monetary Fund.
The Australian sharemarket is easing for the second day, with worse than expected job statistics, global market weakness and a World Bank forecast dragging stocks lower. The All Ordinaries Index (XAO) is down 0.5 per cent, with only the utilities managing to rise slightly at lunch.
Head of Google Australia expresses support to future changes on international taxation laws
Probably feeling refreshed and well-rested after a 2-day absence from the job, Pope Francis blasted the corrupt, slave laborers, arms manufacturers and human traffickers during his general audience on Wednesday. He described people or institutions producing weapons of war are "merchants of death" and therefore the world's harbingers of doomsday.
Equities unwound overnight in a move that started in European trade. Data in the US was limited and as a result investors just chose to focus on a couple of negative headlines. The World Bank lowered its global growth forecast for 2014 to 2.8% (from 3.2%) and the shock Eric Cantor loss was among some of the headlines investors focused on.
In US economic data, the Federal Budget was in deficit by US$130 billion in May, in line with market expectations. New mortgage applications rose by 10.3% in the latest week with the purchase index up 9.3% and the refinancing index up 11%.
A green paper prepared by the Australian federal government proposes expanding the crocodile meat industry in the northern part of the country to have a larger cut of the global market.
The Australian share market was sold off today, as data revealed Australian consumers have the winter blues and following a lacklustre offshore lead. The All Ordinaries Index (XAO) closed down 16 points or 0.3 per cent to 5432.5 points.
The International Monetary Fund (IMF) is expecting a 3.5 per cent growth for the New Zealand's economy for the year before going back to a 2.5 per cent average by 2016. According to the IMF, the country's economic expansion is being driven by favourable financial conditions, resurging construction activity, high commodity prices and a sufficient increase in immigration.
New Zealand is "more friendly" to start-up companies than Australia. Hobart native Craig Richardson is living proof of start-up success in New Zealand. When he left his home in Sydney to start his own tech company, he hasn't looked back since.
Instagram, Facebook's photo-sharing application, will be expanding its advertising reach outside of the U.S. to target users based in the UK, Canada and Australia.
Nokia Corp launched a foldable OLED panel technology at the recently held SID Display Week 2014
So Pope Francis isn't a man of steel or ironman after all. Or just so we thought? The incumbent spiritual leader of the 1.2-billion strong Roman Catholic church has for the very first time filed for a leave of absence from work since taking on the post in March 2013. Vatican assured believers and skeptics alike it was nothing major, just that the pope was tired.
E3 (Electronic Entertainment Expo) 2014, the annual video game conference at the Los Angeles Convention center has unveiled quite an assortment of games this year. Both Microsoft and Sony utilized their turn impressively. Nevertheless, the war between PS4 and Xbox One are world renowned.
The Australian market is under pressure at lunch, wiping out yesterday's modest gains. The All Ordinaries Index (XAO) is down 0.3 per cent, with weakness from the miners, industrials and energy stocks most substantial. Gains from two of the four major banks are helping minimise today's losses. Markets overnight ended flat, providing an uninspiring lead for local stocks.
Russian authorities arrested suspected hackers who hold Apple devices on ransom.
Apple Inc. and US Food and Drugs Administration met in Dec 2013 discussing new products with sensors
Apple Inc's stock split has sent small investors and options traders into a frenzy as the market reacts favourably. The split, which gives shareholders seven times as many shares as they have, sent the stock price to a new high of $93.82, according to reports
UBS analyst Steven Milunovich estimates 21 million iWatch units will be roll out before holiday as patent hints on weightlifting tracker feature
Each share of Apple (NASDAQ:AAPL) is now worth about 92 post-split, opening more investment possibilities
The brand new 'Razer Blade' 2014 laptop is projected as the epic gaming laptop ever. In a nutshell, it comes with a killer display, thin clamshell design and it provides ultimate gaming experience.
Global markets were in a holding pattern through European and US trade, with limited activity on the economic calendar. Perhaps the highlight was a further slide in the single currency, which helped keep equities afloat in Europe. However, emerging markets remain buoyant on the back of the measures China is taking to stimulate the economy. China's move to cut reserve required ratios for a number of regional and agricultural banks saw Asian equities mostly enjoy gains yesterday with the excep...
In US economic data, wholesale sales rose by 1.3% in April, above forecasts centred on a 0.8% gain. Inventories rose by 1.1%, ahead of forecasts suggesting a 0.5% gain. And weekly chain store sales were up by 3.3% on a year earlier, down from the 3.5% gain in the previous week.
