Markets Live: Bank tax talk sparks $14b rout
A softish trading update by CBA combined with talk of a new levy on banks sparked heavy selling in the major banks, dragging the ASX to a loss.
A softish trading update by CBA combined with talk of a new levy on banks sparked heavy selling in the major banks, dragging the ASX to a loss.
The local sharemarket is set to drift lower at the open, following global markets down as investor caution returned.
The Bank of England is likely to lift its inflation outlook, yet downplay expectations for a rate increase anytime soon.
For the first time in 29 years, global harvests of corn, soybeans and wheat are poised to fall simultaneously.
The S&P; 500 fell after edging up to an intra-day record high for the second straight session. Apple tops $US800 billion mark.
The Australian dollar fell to its lowest against the greenback since the first week of January.
Oil prices fell, rattled by concern over slowing demand, a rising US dollar and increasing US crude output.
Raw materials perform best when the US central bank is hiking rates, according to Goldman Sachs.
Nader Naeimi can't ignore it any longer after Japanese stocks added more than $US210 billion in value in less than a month.
The 10-year US Treasury yield may climb to 2.75 per cent to 3 per cent over the "medium term'', according to Pimco.
Talk of a new tax on the big banks and an underwhelming CBA trading update triggered a vicious sell-off in the big four lenders.
Robert Mann, a senior portfolio manager for Nikko AM's Asian equity team, says investors would be unwise to drop out of the Chinese market.
The Australian dollar plunged overnight, caught by a hawkish Fed and sudden sharp selling in copper and iron ore.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7347 | 0.7346 | 0.0002rise | 0.03% rise |
AUD/EUR | 0.6756 | 0.6751 | -0.0001fall | -0.01% fall |
Updated: May 10, 2017 - 7:59AM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 6,186,576,865 | 1,848,091,156 | 1,274,957 |
Industrial | 5,199,368,527 | 825,515,184 | 1,082,102 |
Mining | 951,805,844 | 1,022,121,192 | 188,074 |
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
ZNO | ZOONO GROUP LTD | 0.240rise | 0.042 | 0.042 |
CLL | COLLERINA COBALT | 0.025rise | 0.020 | 0.021 |
PRT | PRIME MEDIA GRP LTD | 0.355rise | 0.310 | 0.315 |
PHI | PHILEO AUSTRALIA | 10.200rise | 9.160 | 8.980 |
KIN | KIN MIN NL | 0.440rise | 0.400 | 0.405 |
PYC | PHYLOGICA LIMITED | 0.050rise | 0.046 | 0.046 |
CDD | CARDNO LIMITED | 1.495rise | 1.380 | 1.440 |
AFR | AFRICAN ENERGY RES | 0.069rise | 0.065 | 0.053 |
ACK | AUSTOCK GROUP LTD | 0.720rise | 0.680 | 0.610 |
MSP | MAXSEC GROUP LTD | 0.036rise | 0.034 | 0.033 |
Updated: May 9, 2017 - 6:50PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
FCR | FERRUM CRESCENT LTD | 0.001fall | 0.002 | 0.002 |
BUY | BOUNTY OIL & GAS NL | 0.005fall | 0.007 | 0.007 |
CTL | CENTENNIAL MNG LTD | 0.012fall | 0.016 | 0.013 |
HMO | HEARMEOUT LTD | 0.100fall | 0.125 | 0.130 |
NSE | NEW STANDARD ENERGY | 0.004fall | 0.005 | 0.004 |
RNL | RISION LIMITED | 0.004fall | 0.005 | 0.005 |
SGU | SUCCESS GLOBAL MEDIA | 0.036fall | 0.045 | 0.045 |
VMC | VENUS METALS COR LTD | 0.092fall | 0.115 | 0.110 |
BMZ | BLACK MOUNTA RES LTD | 0.029fall | 0.036 | 0.032 |
SVT | SERVTECH GLOBAL LTD | 0.110fall | 0.135 | 0.140 |
Updated: May 9, 2017 - 6:50PM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Alderan Resources Limited | AL8 | 29/05/2017 | 0.20 |
Biomics Biopharma Limited | BBM, | 02/06/2017 | 0.20 |
Benjamin Hornigold Limited | BHD | 10/05/2017 | 1.00 |
Eagle Health Holdings Limited | EHH | 29/06/2017 | 0.40 |
Elsight Limited | ELS | 19/05/2017 | 0.20 |
Manuka Resources Ltd | MKR | 17/05/2017 | 0.20 |
Takor Group Ltd | TKO | 15/05/2017 | 0.20 |
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