Deposit, salary stymie Aussie millennials' home ownership dreams
Just 28 per cent of Australian millennials own a home, only marginally higher than their peers in the United Arab Emirates, a survey has found.
Jens is the markets and breaking news editor, based in Sydney.
Just 28 per cent of Australian millennials own a home, only marginally higher than their peers in the United Arab Emirates, a survey has found.
Shares advanced after solid gains across mining and energy stocks helped the ASX overcome selling in the big banks.
The local sharemarket extended Tuesday's strong gains to hit another near two-year high, with banks once again at the vanguard of the rally.
The ASX hits a fresh 2017 closing high thanks to a surprisingly strong performance of the big banks.
Cyclicals were heralded as the stocks to hold in 2017, but despite a disappointing underperformance in the first quarter it's too early to write them off.
A record number of global fund managers reckon that stocks are overvalued, according to Bank of America Merrill Lynch's monthly survey.
The commodities mini-boom moves beyond share prices and macro data and is starting to be felt at ground level, NAB says.
Shares dip led down by Harvey Norman's biggest slide in more than five years, while the Aussie dollar nudges higher.
The sharemarket nudged close to 2017 highs in a week marked by a rebound in mining stocks and an equities-friendly Fed decision.
Central bank policy dominated sharemarket trade: while a Fed hike was initially greeted with strong gains, a surprise follow-up move by China dampened the mood.
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