Markets

CBA offloads its global wealth business for $4.1 billion

CBA is selling its wealth management arm to Japanese asset manager Mitsubishi UFJ Financial Group. CEO Matt Comyn said the transaction reflects the bank’s desire to refocus on its core banking business. Commonwealth Bank has announced the sale of its wealth management arm, Colonial First State Global Asset Management (CFSGAM). […]
CBA offloads its global wealth business for $4.1 billion
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 24,874.64 +431.72 (+1.77%) S&P500: 2,682.63 +41.38 (+1.57%) AUD/USD: 0.7103 +0.0047 (+0.67%) ASX SPI futures (December contracts): 5,767 (-5) 1. It’s CPI day: All-important Q3 inflation data will be released by the ABS at 11:30am AEDT. The forecast is for core inflation to rise by […]
6 things Australian traders will be talking about this morning
Markets

Warren Buffett’s Berkshire Hathaway just made another fintech investment

Berkshire Hathaway made a $US400 million investment in StoneCo, a Brazilian payments platform. It follows an August investment of $300 million in Paytm, the fast-growing Indian mobile payment platform. The investments were spearheaded by Todd Combs, one of Buffett’s top stock pickers. Billionaire investor Warren Buffett is getting into fintech. […]
Warren Buffett’s Berkshire Hathaway just made another fintech investment
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 24,442.92 -245.39 (-0.99%) S&P500: 2,641.25 -17.44 (-0.66%) AUD/USD: 0.7056 -0.0040 (-0.56) ASX SPI futures (December contracts): 5,653 (-51) 1. US stocks gave up early gains to finish in the red, and ASX futures are down sharply following yesterday’s rally. Falls in the US were […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 24,688.31 -296.24 (-1.19%) S&P500: 2,658.69 -46.88 (-1.73%) AUD/USD: 0.7096 +0.0015 (+0.21) ASX SPI futures (December contracts): 5,644 (-17) 1. ASX futures are pointing lower this morning after another sharp fall in US stocks to end the week. The tech sector was hardest hit, as […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 24,984.55 +401.13 (+1.63%) S&P500: 2,705.57 +49.47 (+1.86%) AUD/USD: 0.7080 +0.0017 (+0.24) ASX SPI futures (December contracts): 5,701 (+73) 1. US stocks rebounded strongly overnight, with tech stocks leading the rally as the NASDAQ jumped by 3.5% to partially offset the previous day’s 4.6% drop. […]
6 things Australian traders will be talking about this morning
Markets

Stocks in Japan are getting crushed

As the global stock selloff extends in Asia, stocks in Japan have been belted in morning trade. Traders hit the sell button as soon as markets opened at 11:00am AEST. A short time ago, the benchmark Nikkei index was already down more than 3%. It follows a sharp selloff in […]
Stocks in Japan are getting crushed
Markets

Global investors have increased their exposure to Australian bank stocks

Domestic investors are shunning the big banks amid a reduced earnings outlook and regulatory uncertainty. But data from Macquarie shows offshore investors increased their positions in the September quarter. Given the recent price falls, Macquarie said the big banks look like attractive value relative the broader index. Australian banks are […]
Global investors have increased their exposure to Australian bank stocks
Markets

Dow plunges more than 600 points, Nasdaq enters a correction

The Dow Jones Industrial Average wiped out its 2018 gains. Technology stocks were among the biggest losers, with the Nasdaq entering a correction. Futures markets are pointing to falls of more than 2% on the ASX today. Wall Street wiped out gains for the year overnight, as corporate-earnings season failed […]
Dow plunges more than 600 points, Nasdaq enters a correction
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 24,583.42 -608.01 (-2.41%) S&P500: 2,656.10 -84.59 (-3.09%) AUD/USD: 0.7062 -0.0030 (-0.42) ASX SPI futures (December contracts): 5,700 (-94) 1. Global markets were gripped by another round of fear overnight, as US stocks got sold off sharply into the close. The S&P500 fell for the […]
6 things Australian traders will be talking about this morning
Markets

Home loans issued by non-bank lenders are rising sharply in Australia

Data from ANZ shows a sharp rise in home loans issued by non-banks, as major lenders face increased regulatory scrutiny. Economists Daniel Gradwell and Shaurya Mishra said a steady pickup in non-bank lenders is a net-positive for the market. However, growth in the sector won’t offset the broader slowdown in […]
Home loans issued by non-bank lenders are rising sharply in Australia
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,191.43 -125.98 (-0.50%) S&P500: 2,740.69 -15.19 (-0.55%) AUD/USD: 0.7085 +0.0013 (+0.18) ASX SPI futures (December contracts): 5,815 (no change) 1. US stocks fell sharply in the first hour, before clawing back ground in a volatile session overnight. Investors bought the dips amid rising fears […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,317.41 -126.93 (-0.50%) S&P500: 2,755.47 -12.31 (-0.44%) AUD/USD: 0.7084 -0.0029 (-0.41%) ASX SPI futures (December contracts): 5,879 (-12) 1. Global markets remained cautious overnight, following another huge surge in Chinese stocks after last Friday’s policy response by top officials in Beijing. US tech stocks […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,444.34 +64.89 (+0.26%) S&P500: 2,767.78 -1.00 (-0.04%) AUD/USD: 0.7121 +0.0022 (+0.31) ASX SPI futures (December contracts): 5,911 (-12) 1. US stocks closed flat on Friday, in a cautious session which capped off a volatile week of trade. Tech stocks dragged the index lower, led […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,379.45 -327.23 (-1.27%) S&P500: 2,768.78 -40.43 (-1.44%) AUD/USD: 0.7102 -0.0007 (-0.10%) ASX SPI futures (December contracts): 5,871 (-51) 1. US stocks fell for a second straight day, with the selloff accelerating overnight as markets continued to assess whether the US Fed will tighten monetary […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,706.68 -91.74 (-0.36%) S&P500: 2,809.21 -0.71 (-0.03%) AUD/USD: 0.7108 -0.0033 (-0.46%) ASX SPI futures (December contracts): 5,902 (-25) 1. Some more volatility returned to US markets overnight, as the minutes from the US Fed’s September board meeting were deemed to be more hawkish in […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,798.42 +547.87 (+2.17%) S&P500: 2,809.92 +59.13 (+2.15%) AUD/USD: 0.7140 +0.0009 (+0.13) ASX SPI futures (December contracts): 5,886 (+32) 1. US stocks notched their best day since March overnight, as strong earnings reports helped lift spirits on Wall Street following a sell-off that had shaved […]
6 things Australian traders will be talking about this morning
Markets

Telstra shareholders just hit the board with a new Australian record ‘first strike’ vote against executive pay

Telstra shareholders have made it clear just how unhappy they are with the company’s executive remuneration policy. The Australian reports a staggering 62% of eligible shareholders voted against Telstra’s remuneration report at today’s annual general meeting. That’s a new record high in corporate Australia, beating the 61.4% of AMP shareholders […]
Telstra shareholders just hit the board with a new Australian record ‘first strike’ vote against executive pay
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,250.55 -89.44 (-0.35%) S&P500: 2,750.79 -16.34 (-0.59%) AUD/USD: 0.7139 +0.0032 (+0.45) ASX SPI futures (December contracts): 5,818 (unchanged) 1. US stocks wavered and then turned negative in the final hour of trade overnight, as concerns around rising rates and trade tensions kept markets on […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,339.99 +287.16 (+1.15%) S&P500: 2,767.13 +38.76 (+1.42%) AUD/USD: 0.7112 -0.0007 (-0.10%) ASX SPI futures (December contracts): 5,803 (-51) 1. US stocks had a tech-led rally on Friday night, after Asian markets steadied to end the week. The S&P500 snapped a six-day losing streak where […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,052.83 -545.91 (-2.13%) S&P500: 2,728.37 -57.31 (-2.06%) AUD/USD: 0.7121 +0.0058 (-0.82%) ASX SPI futures (December contracts): 5,778 (-47) 1. The ASX200 looks set for another sharp fall this morning, after US stocks lost a further 2% overnight. Falls were led by energy and financial […]
6 things Australian traders will be talking about this morning
Markets

The Dow falls by another 2%, wiping out more than 1,300 points since Tuesday

Stocks fell Thursday morning after Wall Street’s worst day in eight months. The consumer price index reading for September came in below expectations. Wall Street continued to slide Thursday after initially finding some relief in tamer-than-expected inflation data, a day after worries about rising rates and trade tensions sparked a […]
The Dow falls by another 2%, wiping out more than 1,300 points since Tuesday
Markets

Bitcoin just slumped as volatility extends to crypto markets

Something sparked a crypto selloff at around midday (AEST). Bitcoin is down by around 5%, with the price action varying significantly between exchanges. Crypto markets held steady overnight as US stocks had their biggest fall since February. But something has spurred a selloff in Asian trade, with Bitcoin and the […]
Bitcoin just slumped as volatility extends to crypto markets
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,598.74 -831.83 (-3.15%) S&P500: 2,785.68 -94.66 (-3.29%) AUD/USD: 0.7065 -0.0038 (-0.53%) ASX SPI futures (September contracts): 5,914 (-109) 1. US stocks got hammered overnight as the major indexes fell by more than 3% in the biggest selloff since early February. It’s looking like a […]
6 things Australian traders will be talking about this morning
Markets

The Dow tumbles more than 800 points

Stocks fell overnight as Wall Street sweats over global growth prospects and a bond selloff. The 2-year yield hit its highest level since 2008. Trade-sensitive industrial stocks also fell as tensions between Washington and Beijing persisted. Stocks took a beating Wednesday as concerns about global economic growth and ongoing trade […]
The Dow tumbles more than 800 points
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 26,430.57 -56.21 (-0.21%) S&P 500: 2,880.34 -4.09 (-0.14%) AUD/USD: 0.7102 +0.0025 (+0.35%) ASX200 SPI futures (December contracts): 6,020 (-6) 1. Benchmark US 10-year yields retreated overnight, after briefly hitting a new seven-year high of 3.27%. Most of the big US tech stocks snapped a […]
6 things Australian traders will be talking about this morning
Markets

3 charts that show the turnaround in Australia’s mining sector

NAB’s business survey for September showed conditions and confidence consolidated from the previous month. The underlying data revealed the ongoing improvement in Australia’s mining sector. And more broadly, NAB said the data suggests Australia’s unemployment rate will continue to fall this year. NAB’s business survey for September is out, with […]
3 charts that show the turnaround in Australia’s mining sector
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 26,486.78 +39.73 (+0.15%) S&P 500: 2,884.43 -1.14 (-0.04%) AUD/USD: 0.7077 +0.0022 (+0.31%) ASX200 SPI futures (December contracts): 6,070 (-7) 1. The S&P500 started lower but rallied into the close to finish flat, after UK and European markets both fell by more than 1% following […]
6 things Australian traders will be talking about this morning
Markets

The ASX just had its biggest fall in more than six months

The ASX200 just posted its biggest one-day fall since March 23. It coincides with a sharp selloff in Chinese markets, which returned from a one-week holiday. Falls on the local index were led by resources stocks, while all of the big banks were also lower. The Australian stock market wasn’t […]
The ASX just had its biggest fall in more than six months
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 26,447.05 -180.43 (-0.68%) S&P 500: 2,885.57 -16.04 (-0.55%) AUD/USD: 0.7053 -0.0022 (-0.31%) ASX200 SPI futures (December contracts): 6,146 (-28) 1. All-important US jobs data missed expectations on Friday, with 134,000 jobs added for the month (185,000 forecast). But the numbers were partially affected by […]
6 things Australian traders will be talking about this morning
Markets

Wesfarmers is in a trading halt

Wesfarmers has lodged a request with the ASX to go into a trading halt, pending the outcome of a court decision regarding the demerger of Coles. The company requested that the trading halt remain in effect until Tuesday, 9 October, unless it makes an announcement before then. “The trading halt […]
Wesfarmers is in a trading halt
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 26,627.48 -200.91 (-0.75%) S&P 500: 2,901.61 -23.90 (-0.82%) AUD/USD: 0.7077 -0.0028 (-0.39%) ASX200 SPI futures (December contracts): 6,150 (-27) 1. US stocks got hit hard overnight as yesterday’s global bond rout weighed on risk sentiment. It followed an equally rough session for Asian stocks, […]
6 things Australian traders will be talking about this morning
Markets

Emerging markets across Asia are getting beaten up

Asian stocks are getting sold off and emerging market currencies are under pressure following last night’s spike in US bond yields. Benchmark US 10-year bonds have climbed above 3.2% in Asian trade for the first time since 2011. The fallout from last night’s selloff in US bond markets is being […]
Emerging markets across Asia are getting beaten up
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 26,439.93 +54.65 (+0.21%) S&P 500: 2,914.00 +8.03 (+0.28%) AUD/USD: 0.7208 -0.0049 (-0.68%) ASX200 SPI futures (December contracts): 6,198 (+28) 1. US stocks snapped a four-day losing streak and the greenback rose strongly, as markets digested this week’s message from the US Fed that it […]
6 things Australian traders will be talking about this morning
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 26,385.28 -106.93 (-0.40%) S&P 500: 2,905.97 -9.59 (-0.33%) AUD/USD: 0.7258 +0.0008 (+0.11%) ASX200 SPI futures (December contracts): 6,164 (-17) 1. The US Fed raised rates as expected, and caused a bout of volatility in markets by removing the word “accomodative” from its accompanying statement […]
6 things Australian traders will be talking about this morning