Markets Live: Banks drag ASX down
![US shares set the market up for a positive session.](http://web.archive.org./web/20170828222928im_/https://www.fairfaxstatic.com.au/content/dam/images/g/v/a/w/j/s/image.related.landscape.120x80.gy5c8q.png/1503902006956.jpg)
The ASX ends on a weak note as the big banks weigh on the market in the final days of earnings season, while Qantas shares lose some of their altitude on a broker downgrade.
The ASX ends on a weak note as the big banks weigh on the market in the final days of earnings season, while Qantas shares lose some of their altitude on a broker downgrade.
The ASX is set to start the day in positive territory while the greenback weakness has the Aussie dollar heading towards US80c.
Don't believe what you read: in two important ways this has been the best reporting season in years.
More bad news for CBA shareholders and a broker downgrade to Qantas weighed on shares in the final days of earnings season.
Wall Street nudged higher on Friday, setting the ASX up for a slightly positive start to the week.
Last year US crude-oil exports to China were puny. But all that's changed dramatically, with US shipments to China leapfrogging sales from neighbours such as Australia.
Tax reform details move to centre stage this week amid a major push by President Donald Trump and Congressional Republicans.
Donald Trump's name was rarely mentioned as top central bankers mulled the fate of the global economy, but his presence loomed large.
Shares on Wall Street ended the week mixed, in narrow trade. Oil gained as a hurricane churned toward the Texas Gulf coast.
Fed chair Janet Yellen said post-crisis regulations had improved "substantially" the resilience of the financial system.
A relatively flat week on the ASX belied some dramatic moves as a busy five days of earnings results revealed some big winners and losers.
Chinese government reforms have caught the eye of speculators and sent a typically dull commodity to its highest prices in six years.
The Australian dollar is up sharply against its US counterpart amid a slight rebound in risk appetite following US President Donald Trump's firing of controversial adviser Steve Bannon.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7926 | 0.7925 | -0.0037fall | -0.46% fall |
AUD/EUR | 0.6622 | 0.6616 | -0.0030fall | -0.45% fall |
Updated: August 29, 2017 - 8:20AM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Fat Prophets Global Property Fund | FPP | 13/09/2017 | 1.10 |
The GO2 People Ltd | GO2 | 22/09/2017 | 0.20 |
Mayur Resources Limited | MRL | 01/09/2017 | 0.40 |
MCP Master Income Trust | MXT | 09/10/2017 | 2.00 |
RightCrowd Limited | RCW | 18/09/2017 | 0.30 |
Registry Direct Limited | RD1 | 16/10/2017 | 0.20 |
Riversgold Limited | RGL | 11/09/2017 | 0.20 |
Stirfire Limited | SFS | 29/09/2017 | 0.20 |
TNT Mines Limited | TIN | 01/09/2017 | 0.20 |
Titomic Limited | TTT | 13/09/2017 | 0.20 |
VGI Partners Global Investments Limited | VG1 | 28/09/2017 | 2.00 |
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
LKO | LAKES OIL NL | 0.002rise | 0.001 | 0.002 |
TEG | TRIANGLE ENERGY LTD | 0.135rise | 0.089 | 0.070 |
HE8 | HELIOS ENERGY LTD | 0.025rise | 0.018 | 0.012 |
DGO | DGO GOLD LIMITED | 0.700rise | 0.550 | 0.235 |
MAR | MALACHITE RESOURCES | 0.005rise | 0.004 | 0.004 |
AGY | ARGOSY MINERALS LTD | 0.170rise | 0.150 | 0.086 |
RDM | RED METAL LIMITED | 0.220rise | 0.195 | 0.145 |
GMV | G MEDICAL | 0.445rise | 0.395 | 0.240 |
AIS | AERIS RESOURCES LTD | 0.069rise | 0.062 | 0.058 |
RWC | RELIANCE WORLDWIDE | 3.780rise | 3.400 | 3.510 |
Updated: August 28, 2017 - 6:50PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
MNS | MAGNIS RESOURCE LTD | 0.360fall | 0.480 | 0.475 |
PAB | PATRYS LIMITED | 0.004fall | 0.005 | 0.005 |
SP1 | SEARCH PARTY GROUP | 0.004fall | 0.005 | 0.007 |
DMG | DRAGON MOUNTAIN GOLD | 0.008fall | 0.010 | 0.009 |
BIT | BIOTRON LIMITED | 0.016fall | 0.018 | 0.018 |
SMG | SOON MINING | 0.160fall | 0.180 | 0.330 |
YPB | YPB GROUP LTD | 0.036fall | 0.040 | 0.057 |
TPP | TEMPO AUSTRALIA | 0.165fall | 0.180 | 0.175 |
KAS | KASBAH RESOURCES | 0.013fall | 0.014 | 0.014 |
REG | REGIS HEALTHCARE LTD | 3.410fall | 3.660 | 3.630 |
Updated: August 28, 2017 - 6:50PM |
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