Latest
Computershare slips on lower cash balances
The share registry company has been a winner from rising interest rates, but it says a slowdown in corporate activity means the income gains won’t be as large as initially forecast in 2024.
- Jonathan Shapiro
Bond traders wrong-footed by RBA rate rise
Traders were left cursing after bond yields shot up on the Reserve Bank’s decision to raise the cash rate and flagged more ahead to return inflation to target.
- Cecile Lefort
ASX falls the most in six weeks after RBA shock rate call
Real estate stocks led the sharemarket lower after the Reserve Bank of Australia wrong-footed traders by raising the cash rate to 3.85 per cent.
- Sarah Jones
ASX drops after RBA decision to lift rate by 0.25pc
Shares decline at market close after the Reserve Bank’s shock rate call. Real estate sector suffers the most lost. Qantas shares fall 3pc after announcing Vanessa Hudson to lead airline. Woolworths reports 8pc increase in sales. Follow updates here.
- Updated
- Timothy Moore, Joanne Tran, Cecile Lefort and Sarah Jones
Stock pickers on Wall Street go all-in on recession bets
Hedge funds aren’t waiting around for the US economy to contract and have instead cut their holdings in cyclical stocks to the lowest level since at least 2012.
- Lu Wang
ASX to slip before RBA rate decision, Wall Street mixed
Australian shares are set to open modestly lower. Shares fluctuated in a narrow range in New York; JPMorgan acquires First Republic Bank.
- Timothy Moore
Opinion & Analysis
Bonds v stocks: which market is calling it right?
There is an unresolved tension between bond and equity markets about when a recession will occur and how severe it will be. Can their forecasts co-exist?
Senior reporter
Inflation appears to be under control. Now for the hard part
Not cutting rates while the economy struggles? That will prove a tough task. Any applicants for the governor’s job at the RBA better have a thick skin.
Contributor
Is this the dawn of the age of active investing?
Active fund managers have a spring in their step again, but this environment is going to test their skill.
Senior reporter
What strong gold says about the weak $US
Too confident in the indomitable dollar, the US saw sanctions as a cost-free way to fight Russia without risking troops. But it is paying the price in lost currency allegiances, with gold left as the main safe haven.
Writer and investor
Companies in the News
Coles Supermarkets
Macquarie Group
Commonwealth Bank
National Australia Bank
Updated: May 2, 2023 – 4.38pm. Data is 20 mins delayed.
Search companies
View stories and data from an ASX listed company
Meet the Fundie
- Exclusive
A top fund manager doubts Elon Musk, Andrew Forrest
The co-manager of a new Platinum fund designed to profit from climate change doesn’t believe that Tesla or Fortescue can meet their ambitious goals.
- Aaron Patrick
This fund manager says it’s time to start buying small caps
IFM Investors’ Anita Costa, a portfolio manager on the firm’s $43.7 billion listed equities team, says conditions are ripe for smaller companies.
- Joanne Tran
Credit Suisse’s Christmas parties taught Hasan Tevfik that bubbles pop
The failure of grocery delivery start-up MilkRun reminds MST Marquee’s investment strategist of the unravelling of the dotcom boom in the 2000s.
- Alex Gluyas
This Month
Top fundies wary ahead of ‘confession’ season
Lazard, Katana and Australian Eagle are wary of the consumer discretionary sector as higher borrowing costs start to bite.
- Joanne Tran
ASX climbs ahead of RBA as energy stocks, banks rally
The benchmark index S&P/ASX200 rose 0.4 per cent to 7344.6, buoyed by gains in eight out of eleven sectors.
- Joanne Tran
Energy lifts ASX higher, but miners, Best & Less a drag
ASX up; 7-Eleven up for grabs; Origin eyes earnings bonanza; Kumul-Santos deal extended; Transurban ups distribution; Best & Less unimpressed by Blundy’s bid; Qube in $145m expansion
- Updated
- Timothy Moore, Cecile Lefort, Joanne Tran and Sarah Jones
Investors expect Warren Buffett to beat the market in recession
Fund managers are worried about a US economic downturn and are hunting around for ways to beat it. One idea is buying Berkshire Hathaway shares.
- Ven Ram
ASX to rise; RBA, Fed and Apple results pending
Australian shares are set to open higher. Policy decisions are coming here and in the US this week. The iPhone maker’s results are the next key hurdle for tech.
- Timothy Moore
- Exclusive
- Monday fundie
A top fund manager doubts Elon Musk, Andrew Forrest
The co-manager of a new Platinum fund designed to profit from climate change doesn’t believe that Tesla or Fortescue can meet their ambitious goals.
- Aaron Patrick
- Opinion
- Alpha Live
Bonds v stocks: which market is calling it right?
There is an unresolved tension between bond and equity markets about when a recession will occur and how severe it will be. Can their forecasts co-exist?
- Jonathan Shapiro
April
German bonds a no-go zone as ECB seen keeping hawkish stance
A eurozone inflation print, a survey on European lending activity and the Federal Reserve’s rate decision all need digesting before a verdict on Thursday.
- Naomi Tajitsu and Greg Ritchie
‘Line ball call’ on RBA rate decision as markets bet on pause
The market is pricing in zero change to the current interest rate ahead of the Reserve Bank’s May meeting on Tuesday.
- Joanne Tran
- Opinion
- Investing
Inflation appears to be under control. Now for the hard part
Not cutting rates while the economy struggles? That will prove a tough task. Any applicants for the governor’s job at the RBA better have a thick skin.
- Tim Hext
Tech stock bulls see extended rally; Apple next hurdle
“The narrative for the tech sector is becoming clearer and clearer despite many tech haters yelling fire,” Wedbush’s Dan Ives said.
- Timothy Moore
Wall Street extends rally on better-than-expected earnings
Exxon and Intel helped offset some late week weakness in the tech sector. Energy paced nine of the 11 S&P 500 industry sectors higher.
- Timothy Moore
Trudeau suggests China uses slave labour in lithium production
“If we’re honest ... the lithium produced in Canada is going to be more expensive. Because we don’t use slave labour,” Canada’s prime minister said.
- Doina Chiacu
Fund managers ‘excited’ about the end of cheap money
Investors from the Future Fund to hedge fund GMO are preparing for a stock-pickers markets as interest rates near their peak in the cycle.
- Sarah Jones
New BoJ chief signals changes on stimulus
Kazuo Ueda kept ultra-low interest rates, but announced a review of the bank’s monetary policy, laying the groundwork to phase out its massive stimulus program.
- Toru Fujioka and Sumio Ito
AI stocks, panic buying and why short sellers obsess over the number 4
In this week’s episode, James Thomson and Anthony Macdonald pull out the best bits of AFR’s investing summit, including top stock tips and the biggest red flags that short sellers look for.
Rosy Megaport guidance helps ASX eke out gain
Shares rose 0.2 per cent on Friday as Megaport surged 41.5 per cent, while fellow tech stock Brainchip sank 3.6 per cent in a mixed session for the sector.
- Alex Gluyas
ASX rises at close; Megaport surges 41.5pc
Shares are 0.2pc higher; Westpac now sees RBA pausing in May; Coles quarterly sales rise 6.5pc; Silver Lake expects sales at bottom end of guidance; Megaport sees earnings ‘materially above’ consensus. Follow updates here.
- Updated
- Alex Gluyas, Timothy Moore, Joanne Tran and Sarah Jones
ASX to rise, Meta paces tech-led rally in New York
Australian shares are set to rise. Nasdaq up 2.4pc. Meta leaps 13.9pc. Apple up 2.8pc. Amazon jumps then fades after hours.
- Timothy Moore
US stocks set to rally through end of 2023
Fundstrat Global’s Tom Lee is forecasting a 15 per cent rally in the S&P 500 by the end of the calendar year, paced by technology, industrials and energy shares.
- Timothy Moore
