Latest
a2 Milk denies misleading market, vows to defend legal action
The $5 billion baby formula merchant has dismissed allegations it misled the market by providing and maintaining FY 2021 guidance.
- 38 mins ago
- Tom Richardson
ASX falls 0.6pc, travel favourites suffer
The Australian sharemarket averted a four-month low on Wednesday as investor sentiment turned sour.
- 1 hr ago
- William McInnes
- Live
- Shares
ASX falls 0.6pc; banks, travel stocks tumble
Australian shares fell 0.6pc to 7206.5; JPMorgan downgrades CBA to underweight; RBNZ hikes cash rate 25bps to 0.5pc; Pilbara Minerals beats quarterly shipping guidance; Magellan FUM tumbles. Follow the latest here.
- Updated
- Alex Gluyas, William McInnes, Vesna Poljak, Tom Richardson, Richard Henderson and Cecile Lefort
Soaring gas prices add to energy, inflation crisis
Inflation expectations in Europe are sitting at their highest levels since the global financial crisis, with prices for gas, thermal coal and crude oil at multi-year highs.
- William McInnes
New Zealand central bank starts tightening cycle
The Reserve Bank of New Zealand raised the official cash rate and flagged further tightening in response to high inflation, a red-hot economy and soaring property prices.
- Cecile Lefort
Investors rush to energy stocks to catch boom
Soaring prices for oil, gas and coal have boosted shares in locally listed energy giants, while tech stocks cannot catch a break.
- Richard Henderson
Opinion & Analysis
‘It gets harder from here’ for investors
From Evergrande and inflation to fading stimulus and rising costs, the risks keep rising. It may not be a Minsky moment, but it is no time for complacency.
Columnist
China is facing a coal shock
China is facing a coal shock. This is bad news for the global economy, and good news for the global transition to net zero emissions.
Contributor
Bond sell-off is a warning to the Fed
The longer central bank tapering is delayed, the greater the risk of a disruptive markets move.
Contributor
The pump and dump show is mind-blowing
The playbook to pump penny stocks was refined by shady operators in the dark corners of the crypto markets. The speed, reach and anonymity is remarkable.
Senior reporter
Companies in the News
ASX Limited
Westpac Banking Corporation
Commonwealth Bank
Telstra Corporation
Updated: Oct 6, 2021 – 4.48pm. Data is 20 mins delayed.
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View stories and data from an ASX listed company
Meet the Fundie
How NZ’s sovereign fund was built to freak in, not freak out
New Zealand’s sovereign wealth fund was almost all in on stocks when the pandemic hit the markets – but the team, and the nation, didn’t bat an eyelid.
- Jonathan Shapiro
The race to net zero is recasting the ASX
Martin Currie’s Reece Birtles reveals how the energy transition will fuel stock prices, but it’s not where you might expect.
- Updated
- Richard Henderson
Management makes all the difference for Hayborough
The fund managers have delivered a 30 per cent return to shareholders in the first six months. The founders say the secret sauce is company culture.
- William McInnes
More From Today
Smart money From Soros to Elliott sounds alarm on Chinese stocks
Soros chief investment officer Dawn Fitzpatrick said the firm is “not putting money into China right now”.
- Nishant Kumar, Hema Parmar and Akayla Gardner
API takeover battle tests the heavyweight matchmakers
Sigma Pharmaceuticals bid for API has left a major shareholder furious, while API argues the bid could be superior to the Soul Patts-backed Wesfarmers bid.
- Tom Richardson
Lithium boom enriches Vulcan and Perth’s establishment
Vulcan Energy’s eye-watering rise since 2020 has created some lithium fortunes for a business backed by the Perth establishment.
- Tom Richardson
ASX to rise, techs pace gains in Europe, New York
Australian shares are set to open higher as tech shares recovered even as US Treasury yields increased. Bitcoin tops $US51,000.
- Timothy Moore
Yesterday
Energy demand boosts trade surplus but fails to stir $A
The Australian dollar has edged lower despite the nation’s trade balance fuelling a record surplus in August.
- Cecile Lefort
Tech stocks lead losses following Nasdaq’s tumble
The S&P/ASX 200 Index lost 0.41 per cent. Afterpay closed at the lowest level since it agreed to be bought by Square, at $113.60.
- Vesna Poljak
ASX falls despite RBA relief rally; Afterpay hits post-deal low
Australian shares lower; risk-off sentiment erases tech sector’s 2021 gain; RBA: economy to return to pre-Delta path in second-half 2022.
- Updated
- Richard Henderson, Vesna Poljak, Alex Gluyas, Cecile Lefort and William McInnes
OPEC+ decision worsens energy crisis
OPEC and its allies will stick with planned modest production increases in the middle of an energy crisis, threatening the global economic recovery.
- William McInnes
Blockchain most exciting new market in years: Bank of America
Widespread adoption of central bank digital currencies is inevitable, and will help address regulatory concerns.
- Alex Gluyas
OPEC+’s steady-as-she-goes approach alarms oil market
Oil is now joining natural gas, coal and a host of other vital commodities in a rally that threatens to upend the world’s recovery from the COVID-19 pandemic.
- Grant Smith, Salma El Wardany, Javier Blas and Dina Khrennikova
- Opinion
- Chanticleer
‘It gets harder from here’ for investors
From Evergrande and inflation to fading stimulus and rising costs, the risks keep rising. It may not be a Minsky moment, but it is no time for complacency.
- James Thomson
ASX to drop, techs dent Wall St, bitcoin tops $US49,000
Australian shares are poised to fall more than 1 per cent at the open, amid a sell-off in US megatechs paced by Facebook, as inflation and debt-ceiling worries swirl.
- Timothy Moore
This Month
ASX jumps 1.3pc as Commonwealth Bank, travel stocks rally
The travel sector extended its rebound on Monday as shares in Webjet, Corporate Travel, Flight Centre and Qantas hit 52-week highs.
- Alex Gluyas
Federal Reserve and China weigh on $A outlook
Analysts have downgraded their forecasts for the Australian dollar because the US Federal Reserve is likely to raise interest rates well ahead of the RBA.
- Cecile Lefort
Investors gear up for ‘record’ US profit season
Heightened focus on earnings growth comes as US shares have fallen 4 per cent from their peak in early September.
- Richard Henderson
- Exclusive
- Cryptocurrencies
Bitcoin dream brewing in Tonga
A Tongan parliamentarian aims to push through legislation that will make bitcoin legal tender in Tonga, joining the pa’anga. Its central bank is yet to be convinced.
- Tom Richardson
Travel stocks, CBA soar; Evergrande suspends shares as suitor eyes bid
Evergrande requests share suspension, rival developer may take stake in business unit. ASX pares gains. CBA soars 5pc. Flight Centre adds 9.6pc, energy producers gain.
- Tom Richardson, Vesna Poljak, Alex Gluyas, Cecile Lefort and Richard Henderson
ASX to rise, RBNZ expected to lift rates this week
Australian shares are set to open higher, bolstered by a broad rally on Wall Street as tensions eased in Washington. The US 10-year yield has declined.
- Timothy Moore
How NZ’s sovereign fund was built to freak in, not freak out
New Zealand’s sovereign wealth fund was almost all in on stocks when the pandemic hit the markets – but the team, and the nation, didn’t bat an eyelid.
- Jonathan Shapiro
