It’s been a tumultuous time for AGL Energy, the $7.7 billion electricity and gas giant backed by billionaire businessman Mike Cannon-Brookes, with plenty of hand wringing about the company’s strategy. Now that this has been ironed out – and with shares up more than 10 per cent since the start… Read More »AGL Energy prepares to unveil big batteries play; acquires Firm Power
Aurizon must convince investors its prospects for earnings growth are sound after the stock suffered a 9 per cent drop on a lower than expected full-year profit result. The 25 per cent jump in 2023-24 net profit to $406 million and a $150 million share buyback failed to hearten investors,… Read More »Aurizon tumbles on weak earnings outlook
Hedge funds in Asia are increasingly targeting Australian mining companies betting that the rout in the sector will deepen from weak commodity prices and the threat to earnings from elevated costs this reporting season. Of the top 20 most shorted stocks on the ASX last week, 15 were mining companies,… Read More »Asian short sellers are ramping up bets against Australia’s miners
A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. The producer price index, which measures selling prices that producers get for goods and services, increased 0.1% on the month, the Labor Department’s Bureau of… Read More »Wholesale inflation measure rose 0.1% in July, less than expected
The S&P 500 ticked higher Monday as Wall Street geared up for a busy week of corporate earnings and looked ahead to a key policy announcement from the U.S. central bank. The broad market index gained 0.08%, closing at 5,463.54, and the Nasdaq Composite advanced 0.07% to end at 17,370.20.… Read More »S&P 500, Nasdaq eke out small gain Monday as investors gear up for big tech earnings this week
The prudential regulator will not relieve borrowers of the 3 per cent interest rate buffer they must absorb before qualifying for a home loan because the economy faces too much uncertainty from inflation, geopolitics and leverage. As Commonwealth Bank shares claimed a fresh record of $134.90 on Monday, Australian Prudential… Read More »‘Risks elevated’: APRA holds banks’ mortgage rate buffer at 3pc
Higher inflation for items that interest rates have little control over, such as education, healthcare and insurance, will force the Reserve Bank of Australia to consider squashing harder on the prices of other items to achieve an inflation rate averaging 2.5 per cent. Research by ANZ shows that goods and… Read More »The price rises creating a big dilemma for the RBA