Banks cause ASX a week of pain
Bank stocks pummeled the ASX this week, pulling the market below 5000 points on Friday, despite dovish noises from the US Fed and reasonably performing miners.
Stock Ticker
- AGL AGL ENERGY LIMITED. -1.58%
- AIO ASCIANO LIMITED -0.56%
- AMC AMCOR LIMITED -1.32%
- AMP AMP LIMITED -2.59%
- ANZ AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -2.77%
- APA APA GROUP -4.09%
- ASX ASX LIMITED -1.35%
- AZJ AURIZON HOLDINGS LIMITED 0.50%
- BHP BHP BILLITON LIMITED 0.65%
- BXB BRAMBLES LIMITED -0.82%
- CBA COMMONWEALTH BANK OF AUSTRALIA. -2.58%
- CCL COCA-COLA AMATIL LIMITED -2.04%
- CPU COMPUTERSHARE LIMITED. -2.76%
- CSL CSL LIMITED -0.43%
- CTX CALTEX AUSTRALIA LIMITED -0.59%
- DXS DEXUS PROPERTY GROUP -1.89%
- GMG GOODMAN GROUP -1.20%
- GPT GPT GROUP -1.00%
- IAG INSURANCE AUSTRALIA GROUP LIMITED -3.94%
- IPL INCITEC PIVOT LIMITED -5.64%
- JHX JAMES HARDIE INDUSTRIES PLC -0.62%
- LLC LENDLEASE GROUP -2.52%
- MGR MIRVAC GROUP -3.36%
- MPL MEDIBANK PRIVATE LIMITED -1.02%
- MQG MACQUARIE GROUP LIMITED -2.86%
- NAB NATIONAL AUSTRALIA BANK LIMITED -2.13%
- NCM NEWCREST MINING LIMITED -0.35%
- ORG ORIGIN ENERGY LIMITED -3.73%
- ORI ORICA LIMITED -1.17%
- OSH OIL SEARCH LIMITED -3.55%
- QAN QANTAS AIRWAYS LIMITED 1.72%
- QBE QBE INSURANCE GROUP LIMITED -2.20%
- RHC RAMSAY HEALTH CARE LIMITED -0.91%
- RIO RIO TINTO LIMITED 1.05%
- S32 SOUTH32 LIMITED -1.36%
- SCG SCENTRE GROUP -2.03%
- SEK SEEK LIMITED -0.74%
- SGP STOCKLAND -1.64%
- SHL SONIC HEALTHCARE LIMITED -2.24%
- STO SANTOS LIMITED -2.73%
- SUN SUNCORP GROUP LIMITED -2.35%
- SYD SYDNEY AIRPORT -0.45%
- TCL TRANSURBAN GROUP -1.67%
- TLS TELSTRA CORPORATION LIMITED. -1.31%
- VCX VICINITY CENTRES -1.88%
- WBC WESTPAC BANKING CORPORATION -2.31%
- WES WESFARMERS LIMITED -1.81%
- WFD WESTFIELD CORPORATION -2.30%
- WOW WOOLWORTHS LIMITED -1.76%
- WPL WOODSIDE PETROLEUM LIMITED -1.12%
Key Stories
Fast lane accelerates in two-speed economy
All the recent jobs growth has occurred in NSW and Victoria, with the rest of the country stuck in a vicious cycle.
More customers bank on refinancing
There is a boom unfolding in the number of mortgage customers taking out new loans to pay off their existing debt at lower rates.
Macau slump dampens Packer's fortunes
James Packer's hopes of a revival in fortunes at the world's largest gambling hub, Macau, have been dashed after casino revenues fell more than expected in March.
Fish are the new forests, says Bob Brown
Former Greens leader Bob Brown has urged for the creation of independent regulator for Tasmania's salmon farmers.
The country attracting millionaires
With an inflow of 4000 last year, one southern hemisphere city is pulling in the most millionaires.
Unaoil chiefs questioned by police
The headquarters of global oil company Unaoil and the homes of their executives have been raided by police in the wake of revelations in recent days that the Monaco company systematically corrupted the global oil industry.
- Currencies London calling for $A bargain hunters
- Energy Primary Health's Gregg sues Fairfax Media
- Mining and Resources Brazilian river recovering from disaster at BHP-owned mine
- Energy Primary Health 'knew' of CEO probe
- China China's confidence bounces back
Market Indices
Last updated: April 1, 2016 - 11:06PM
Last updated: April 1, 2016 - 11:06PM
Last updated: April 1, 2016 - 11:06PM
Last updated: April 1, 2016 - 11:06PM
Appetite for risk: Why Bill Granger took on London
When restaurateur entrepreneur Bill Granger plunged into London market with his cosy but successful Australian business Bills, he put both his finances and reputation on the line.
In Depth
Innovation is more than just start-ups
Not all innovation is about technology, start-ups and new-to-world products, says the head of business banking at CBA.
This is where bad bankers go to prison
It's the only nation that put top finance chiefs behind bars after the GFC, making bankers answer for the crimes of the crash.
How they tried to fool us
April 1st has some of the world's biggest companies make the biggest announcements. All of them true, of course. Totally.
Workplace
Exploitation of Australia's fast-food staff revealed
Almost half of all fast-food outlets audited by Australia's workplace watchdog are underpaying their staff.
Food peddlers earn $10 per hour
Two disruptive food delivery companies accused of putting bicycle delivery workers on sham contracts.
Markets
Gold's record first quarter even surprises the bulls
Gold has just enjoyed its best quarter since 1986, with global economic worries sending investors rushing for a safe haven store of value, and there may be more upside to come.
Aconex founders outdone by director colleague
Aconex topped the sellers' tally this week, taking recent disposals by directors to about $21 million.
Markets Live: Big banks battered
Live
Plunging banks consigned the ASX to a poor weak, while the Aussie hovers at US77c.
- Markets all too quiet for some
- MSCI takes fresh look at Chinese shares
- need2know: Weak lead from Wall St
- US stocks end first quarter with a whimper
- Greenback stumbles to lowest in nine months
- Gross optimistic as fund performance improves
- Oil advances as greenback's slump offsets supply data
- Copper extends slump on China rating downgrade
Iron ore seen sliding back to $US45 level
Search Quotes & Charts
The Economy
Confronting the end of the iron age
Just as China's ascent helped reshape our economy, its move toward a consumer-led economy is challenging us anew.
Home price growth slows again
Australian home prices rose only marginally in March while annual growth braked to its slowest in 31 months.
Retail
How they tried to fool us
April 1st has some of the world's biggest companies make the biggest announcements. All of them true, of course. Totally.
Small fortunes: ventures bid to carve out a place in crowded CBD
Low vacancy rates mean businesses are desperate for a toehold, and landlords are looking for new ways to slice up their investment.
Banking & Finance
No more taxpayer support for victims of Trio collapse
Nearly seven years after Trio Capital Group collapsed do-it-yourself investors have had their hopes of taxpayer-funded compensation dashed.
Innovation is more than just start-ups: CBA
Not all innovation is about technology, fintech start-ups and new-to-world products, says the head of business banking at Commonwealth Bank of Australia, Adam Bennett.
Mining & Resources
Giant dragonfly helps end coal mining plans
The failure of proponents of a coal mine in the Special Areas to take into account the effect of an expansion on the endangered giant dragonfly species may have sealed the fate of 120-year-old mine.
Flinders Mines says Todd takeover bid is too low
Flinders Mines chairman Robert Kennedy says Todd Corporation's $38 million takeover offer undervalues the company by at least $26.9 million.
World Business
April Fool's Day hoax hits drug giant
It sounded too good to be true: Global pharma behemoth Pfizer putting an end to rising drug prices. Turns out it wasn't.
Anbang scraps $US14b Starwood Hotel bid
China's Anbang Insurance is walking away from its proposed takeover of Starwood Hotels, the operator of Sheraton and Westin hotels, a source says.
China
Confronting the end of the iron age
Just as China's ascent helped reshape our economy, its move toward a consumer-led economy is challenging us anew.
Bright Foods' $620m Aust arm headed for HK listing in 2017
The Australian food businesses owned by China's Bright Foods, which combined generate $620 million in revenue, are likely to be packaged up and listed on the Hong Kong Stock Exchange in 2017.
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Property Focus
Tech tenants the new kids on the block
There is a new tenant in town, that will soon overtake the traditional banks and financial services, and create a new feel and vibe in capital cities.
Investa manager undertakes independent review
The battle for the listed Investa Office Fund may have entered its final stages, but in the latest twist the current manager has appointed James Spigelman to advise it on corporate governance arrangements.
Packer on a winning streak over Barangaroo
James Packer's Crown Resorts has warned the NSW government that if it is forced to shrink the size of the podium on its proposed $1.2 billion Barangaroo casino resort.
Shop sales sizzle as investor pays premium for Hampton store
Strong city office occupancy spurs retail growth
Spending power in capital cities is rising at a rapid rate as the population of residents and office workers expands.
Executive Style
12 light beers you'll want to drink
Many new low alcohol beers are finally competitive for taste and enjoyment.
Money
Business tax breaks hurt local investors
Reducing the company tax rate will increase the income tax payable by resident investors.
Stawell Gift winner Talia's $4.5m prize
The payday for winning the Stawell Gift footrace is impressive for a 15-year-old – but even more than you think.
Small Business
Hard work is never enough
The number of successful people who think "I worked hard and made it" implies "you will make it if you just work hard enough" is astounding.
Tech unicorn moves in on Australia
From the ashes of a failed video game start-up to the world's fastest-growing business application ever, why Slack is targeting Australia.
Business Video
Why Chinese tourists are cleaning out Australian supermarket shelves
Chinese tourists want Australian products, but why do they insist on buying them in person?
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Comment & Analysis
Ditching Oxo a winner for Clarke
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Major concerns over corporate corruption
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The main problem: it is the wrong tax reform
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