Banks lower in slow start for shares
Confirmation that record low interest rates remain on hold and improving manufacturing data out of China was not enough to prevent the local market starting the new financial year with a whimper.
$A inches closer to ‘resistance point’ of US94.65¢
The Australian dollar soared to an intraday high of US94.58¢ after the Reserve Bank of Australia kept the cash rate on hold and Chinese PMI data suggested improved activity in China’s factories in June.
Low interest rates fuel market bull run
Investors are heading into 2014-15 with Wall Street at a record high and volatility almost at a record low.
S&P 500, Nasdaq rise for sixth straight quarter
Updated | The S&P 500 and the Nasdaq Composite indexes wrapped up a sixth straight quarter of gains on Monday, a streak not seen in more than 14 years..
Copper closes above $US7000 a tonne on China bets
Copper rose, notching up a second month of gains on tight supply and hopes of solid demand from China, but gains were capped by investors' worries about the effect of high oil prices.
Emerging bond sales surge through $US260b mark
Emerging market borrowers sold over $US260 billion worth of bonds in the first half of 2014, outstripping year-ago levels despite geopolitical noise as borrowers rushed to take advantage of low US yields.
Gold caught between the bulls and the bears
Derivative traders are continuing to watch gold with commentators tipping that any movement this week is likely to be sideways.
Libor antitrust lawsuit gets fresh day in court
The US Supreme Court said it would hear an appeal by investors whose antitrust claims over the manipulation of the global benchmark interest rate known as Libor were dismissed last year.
European shares steady, rise for fourth quarter in row
European equities steadied on Monday, as gains in chemicals companies led by the Belgian group Solvay were offset by weaker travel stocks after a ratings downgrade caused easyJet shares to slump,
Techs change shape of small cap sector
Overall smaller companies underperformed compared to larger companies, with oil and gas and technology companies a shining light and iron ore and uranium stocks lagging behind.
Private equity victim of its own success
The success of private equity firms vending companies on to the stockmarket in the last year is putting the sector in greater competition with equity capital markets teams.
Currencies
| AUD | USD | EUR | JPY | GBP | |
| AUD |  |
0.9494 | 0.6937 | 96.36 | 0.5535 |
| USD | 1.0531 |  |
0.7307 | 101.5 | 0.5829 |
| EUR | 1.4411 | 1.3685 |  |
138.90 | 0.7978 |
| JPY | 0.0104 | 0.0098 | 0.0072 |  |
0.0057 |
| GBP | 1.806 | 1.715 | 1.2531 | 174.07 |  |
Where has market volatility gone?
Investors don't seem concerned about much with markets at record highs, but what the RBA has to say could change that.
World Indices
| S&P;/ASX 200 | 5,375.9 | - 19.8 | - 0.37% |
| ALL ORDINARIES | 5,366.5 | - 15.5 | - 0.29% |
| S&P;/ASX 100 | 4,470.2 | - 18.4 | - 0.41% |
| SMALL ORDS | 2,142.2 | + 10.9 | + 0.51% |
| Dow Jones | 16,961.66 | + 135.06 | + 0.80% |
| S&P 500 INDEX | 1,973.88 | + 13.65 | + 0.70% |
| NASDAQ COMPOSITE | 4,459.62 | + 51.44 | + 1.17% |
| Wilshire 5000 | 21,017.21 | + 154.47 | + 0.74% |
| FTSE 100 | 6,802.92 | + 58.98 | + 0.87% |
| CAC 40 INDEX | 4,461.12 | + 38.28 | + 0.87% |
| SMI PR | 8,607.97 | + 53.45 | + 0.62% |
| XETRA DAX PF | 9,902.41 | + 69.34 | + 0.71% |
| HANG SENG INDEX | 23,190.72 | - 30.80 | - 0.13% |
| - | % |
| NIKKEI 225 INDEX | 15,326.20 | + 164.10 | + 1.08% |
| SSE COMPOSITE/d | 2,050.38 | + 2.05 | + 0.10% |
Goldman reiterates ‘buy’ on Wesfarmers
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Goldman Sachs has reiterated its “buy” on Wesfarmers after it completed the sale of its $1.85 billion insurance underwriting operations.
CBA credibility on the line
A report into how ASIC handled a rogue financial planning scandal at the nation’s biggest bank was always going to be damning.
Small caps easy money no more
In such a benign environment, it might be considered odd that investors are not piling in, but finding value in the small caps sector is becoming tough.
When the past starts catching up with the future
The US economy reached a significant milestone in May when the number of employed Americans returned to the pre-GFC peak.
We all pick the facts that we like
Greg Lindsay | It is a conceit of left-wing researchers to portray themselves as objective and their opponents as mere ideologues. It is a false distinction.
Japan-Sth Korea animosity hinders region
A key part of Asia’s regional security jig saw puzzle may have gone missing in action last Friday.
Defend Argentina from the vultures
In a world of global capital flows, a workable mechanism for restructuring sovereign debt is not an optional extra. It is vital if countries such as Argentina are to get back on their feet.
Europe’s winding road to recovery
Juan is driving me at white-knuckle speed from the south of France to the north of Spain.
‘Euphoric’ markets at risk of another crash
Philip Baker | The Bank for International Settlements says financial markets are losing touch with reality and another crisis could be just around the corner.
Bankers tip busy second half but fundies tread warily
It’s expected to be a busy six months for capital raisings, but investment bankers and lawyers are divided on whether equity capital markets activity in the second half will outpace the first.t
Taking stock
Post-winter chill forecast for Myer
The stream of downgrades from retailers such as Super Retail Group, The Reject Shop and Noni B – blamed almost universally on poor consumer confidence after the federal budget and a warmish winter – has had analysts hunting for the next victim.
REA analysts stay positive despite agency price talks
Media group REA traded lower on Wednesday after the announcement that 300 real estate agencies in Melbourne have appointed a media buyer to negotiate ad prices on their behalf.
Equity Markets
David Paradice hands $800m back to clients
Australia’s most prominent small caps Australian equities funds manager has made a decision to return in excess of $800 million of client funds in an attempt to stave off future underperformance.
Banks lower in slow start for shares
Confirmation that record low interest rates remain on hold and improving manufacturing data out of China was not enough to prevent the local market starting the new financial year with a whimper.
Debt Markets
Libor antitrust lawsuit gets fresh day in court
The US Supreme Court said it would hear an appeal by investors whose antitrust claims over the manipulation of the global benchmark interest rate known as Libor were dismissed last year.
Emerging bond sales surge through $US260b mark
Emerging market borrowers sold over $US260 billion worth of bonds in the first half of 2014, outstripping year-ago levels despite geopolitical noise as borrowers rushed to take advantage of low US yields.
Currency Markets
$A inches closer to ‘resistance point’ of US94.65¢
The Australian dollar soared to an intraday high of US94.58¢ after the Reserve Bank of Australia kept the cash rate on hold and Chinese PMI data suggested improved activity in China’s factories in June.
$A starts financial year US3¢ stronger than year ago
The Aussie starts the financial year above US94¢, three cents higher than a year ago, buoyed by central banks building reserves and expectations that Australian rates will outstrip the US.
