Local stocks saw a flat start to the trading week on Monday. Selling intentions harboured by participants were stymied by the strong finish seen for US stocks at the conclusion of last week which saw the broader US market end at record highs on Friday.
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Equities managed to get into the weekend on a positive note, but developments out of the weekend remain on the European front. The dominant theme from Friday's session was modest US dollar strength with a solid new home sales reading helping sentiment along. The greenback enjoyed good strength against the yen and the euro, with USD/JPY nudging the 102 level. This puts the Nikkei in a very good position at the open today and we are currently calling it up 0.8% to 14,573.
In US economic data, new home sales rose by 6.4% to a 433,000 annual pace in April, above forecasts centred on result near 425,000. The weekly Economic Cycle Research Institute index eased from 136.3 to 135.1 in the latest week but is up 5.0% on a year ago.
Australia's richest family, the Rineharts, continue to be divided by their feud over the family billions of dollars wealth.
Despite May about to end in one week, an April Fool's Day joke by Virgin Atlantic founder Richard Branson fooled CCTV, China's state broadcaster.
After a volatile week ,the ASX 200 has ended in positive territory, albeit by a small margin of 0.25%. The transformative event of the week was the improved reading on Chinese manufacturing on Thursday which provided the mining sector with a timely fillip following the selling seen at the start of the week. Miners ended lower as a group although this came after the strong gains seen on Thursday. Gold miners were one of the weak spots in the resource sector. St Barbara Limited (SBM), an Australia...
Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) toppled Apple Inc. (NASDAQ:AAPL) as top holding of hedge funds and as world’s most valuable brand
The Australian sharemarket continues to make up for the tough start to the week, with better than expected signs for China's manufacturing industry yesterday and modest gains in U.S. markets overnight helping. The All Ordinaries Index (XAO) is up 0.3 per cent, with only the miners and energy stocks losing ground at lunch.
Consumer confidence in Australia dropped to its newest level in over two years as Australians begin to worry about the impact of the Abbott government's budget on their family's finances. According to reports, the Westpac Melbourne Institute Index of Consumer Sentiment declined 6.8 per cent in May to its lowest level since August 2011.
Australians currently in Thailand, and even those who need to go there, have been strongly warned to exercise all necessary precautions, following the confirmation of a military coup. Travel insurance companies have expressed the policies of travelling Australians in Thailand may be cancelled because of the development.
Equities extended their gains in US trade on the back of some encouraging manufacturing readings, particularly from China and the US. China's HSBC manufacturing PMI reading hit a five-month high yesterday and triggered strength across the risk space in Asian trade. Meanwhile in Europe the readings were mixed with manufacturing mostly weaker resulting in further strain in the single currency.
According to legendary stock analyst Bill Miller, Apple Inc's stock surge is not yet over. In a CNBC interview, Mr Miller said Apple's stock will continue to climb after crossing the $600 mark. Although the tech giant's stock is "not as attractive" as before, he believes the stock is still worth $700 or $750.
In US economic news initial jobless claims rose 28,000 to 326,000 last week. US existing home sales rose by 1.3% in April to 4.65 million annual units. The increase marked only the second gains in nine months. Sales remain 6.8% lower than a year ago. The US Markit ´´flash´´ manufacturing index rose from 55.4 to 56.2 in April.
Residents and consumers in Queensland are expected to benefit from the plan of supermarket giant Coles to open 31 stores across the state within four years. The move is expected to create 8,000 jobs.
The official explanation of research company Millward Brown, which just declared Google the most valuable company, why Apple was dislodged from the top spot is linked to their brand values.
Local stocks were able to add to early gains thanks to a better than expected reading on Chinese manufacturing. The ASX 200 ended the session within sight of the best levels of the session when the index was up by 67 points. Participation was solid with around $4.6 billion in turnover.
Not too long ago, gadget enthusiasts were introduced to HTC’s flagship smart-phone One M8 and now users can expect a cheaper variant of it to hit the markets soon. HTC One M8 Ace is one of the most anticipated rumoured variant of HTC One M8. Recent report reveals what to expect.
New Zealand's annual migration is seen to go beyond 40,000 as more people choose to stay in the country.
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Better than forecast signs for China's manufacturing industry are helping lift the miners, dollar and most of the broader market. The All Ordinaries Index (XAO) is up 0.9 per cent to 5454pts, with the resource industry a standout. Strength from global markets last night thanks to comments from the U.S. central bank hinting rates are likely to remain at rock bottom levels for longer is also helping.
If the recent McDonald's Happy terrified Twitter and most social media users, The Lemonhead candy brand's new mascot might just top that. Ferrara Candy Co. rolled out an updated new mascot and introduced him on Youtube, Twitter, and Facebook last Sunday. Just like McDonald's Happy not getting a positive welcome from social media users, "Lemonhead" starts to receive the same feedback.
On Wednesday, eBay Inc., the California based online retailer requested its users to change their passwords. Cyber attack was quoted as the reason behind this mass request. Apparently, this attack compromised the company's database.
A report published by the Washington-based Union of Concerned Scientists has highlighted the potential ill effects of climate change to at least 30 historical landmarks in the U.S. Should the human-induced climate change continue to escalate, there might be no other way for America's newest and oldest landmarks but to topple and bow down to rising sea levels, floods and wildfires.
There was a lot of rejoicing at the Fed minutes; a one line synopsis of the release would read - the Fed continues to champion accommodation for the foreseeable futures.
US FOMC minutes saw Fed members having a generally cautious outlook. The minutes made it clear that a number of members believe the unemployment rate alone does not fully capture the amount of slack in the labour market, while also claiming it was too early to confirm that the economy is moving to sustained above-trend growth.
