Latest
Wall Street rises despite enduring labour market strength
The S&P 500 was modestly higher, as were both the Dow and Nasdaq as strong jobs data did little to dent hopes for a 2024 pivot to rate cuts.
- 1 hr ago
- Timothy Moore
ASX gains, buoyed by Santos, iron ore demand
Shares up; AI enthusiasm bolsters Wall Street; Santos boosted by merger talk with Woodside; Genex seals QLD deal; Sky City cuts guidance. Follow updates here.
- Updated
- Timothy Moore, Cecile Lefort, Joanne Tran and Sarah Jones
Petrol prices drop 30¢ at the bowser as oil slumps
It is good news for motorists as NRMA says petrol prices are expected to fall further across the country, unless you live in Sydney.
- Joanne Tran
Bitcoin surge stokes huge volumes for Aussie crypto exchanges
Trading volumes at Independent Reserve jumped 50 per cent in November to more than $500 million as traders piled into the world’s largest cryptocurrency.
- Tom Richardson
Traders pile into bets that Bank of Japan will end negative rate
A sharp strengthening of the yen served as a stark reminder to international investors that a major anchor for global borrowing costs may soon be dislodged.
- Masahiro Hidaka, Yumi Teso and Toru Fujioka
Oil’s brief relief rally fades as bearish sentiment settles in
US oil retreated below $US70 a barrel after slumping 11 per cent over the previous five sessions, the longest run of daily losses since February.
- Mia Gindis
Opinion & Analysis
Perpetual bid is a warning for Magellan, Regal and Platinum
Soul Patts’ bid for Perpetual may have been dismissed as too low, but its structure reinforces the challenges facing listed fund managers.
Columnist
Stocks to watch as economists tip long RBA pause
By ending the year with rates on hold, the RBA sets up a puzzle for local investors in 2024: a prolonged pause or earlier-than-expected cuts?
Columnist
Investors can’t help gorging on anti-obesity drugs
The wall of capital going into this area is great for patients. But not all the treatments will be winners for shareholders.
Contributor
Can Kim Kardashian’s Skims break the IPO traffic jam?
The year-end rally has sparked hopes that the window will open for IPOs to start flowing again. But plunging venture capital activity tells a different story.
Columnist
Companies in the News
Origin Energy
Woodside Energy Group
Perpetual Limited
Updated: Dec 8, 2023 – 4.10pm. Data is 20 mins delayed.
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Meet the Fundie
How Regal is making money in small caps when others are failing
James Sioud is among the youngest portfolio managers in Australia. He works alongside Phil King and Todd Guyot in a fund that is more than beating the market.
- Sarah Jones
Why this bond manager is seeing billions of dollars in new money
Anthony Kirkham of Western Asset says investors are finally catching on that there are higher returns to made in Australian investment grade bonds than there is in the sharemarket.
- Cecile Lefort
This $24b global stock picker follows his own style
Royal London’s Peter Rutter has helped build the firm’s investment process around not being boxed into a particular category.
- Jonathan Shapiro
Yesterday
Bond traders to face a reality check with jobs report
Employment and wage growth are expected to have moderated last month; a miss could trigger a market reversal.
- Michael Mackenzie and Rich Miller
ASX to slip, Alphabet surge paces Nasdaq rally
Australian shares are set to open modestly lower. Techs bolster S&P 500 and Nasdaq Composite. Oil steadies. Bitcoin slips. $A edges above US66¢.
- Timothy Moore
This Month
$A predicted to sink below US60¢ next year
The Australian dollar is forecast to drop below to levels not seen since the pandemic, before rebounding next year once the Fed starts cuts rates aggressively.
- Cecile Lefort
ASX closes flat after Woodside, Santos rallies reverse energy rout
Australian shares end near where they started after merger rumours prompt Santos and Woodside to recover losses. Follow updates here.
- Updated
- Timothy Moore, Joshua Peach, Cecile Lefort, Joanne Tran and Sarah Jones
- Opinion
- Chanticleer
Perpetual bid is a warning for Magellan, Regal and Platinum
Soul Patts’ bid for Perpetual may have been dismissed as too low, but its structure reinforces the challenges facing listed fund managers.
- James Thomson
Why this fundie is sticking with one of ASX’s most shorted stocks
Apostle portfolio manager Kylie Parkyn still owns Core Lithium despite its negative returns this season, and says there is still a lot of value to be found in the lithium space.
- Updated
- Joanne Tran
How to optimise your stock portfolio for a high $A
Citi expects the currency to rise to US76¢ by late 2025. Some companies will benefit from that surge, outlined in a note by the bank’s equities strategists to clients.
- Updated
- Joshua Peach and Cecile Lefort
Jamie Dimon says he would shut down crypto if he could
The remarks add to the JPMorgan Chase CEO’s long history of bashing digital currencies, which he has previously called “Ponzi schemes” and a “fraud”.
- Katherine Doherty
ASX to fall, Wall St fluctuates, oil plunges
Australian shares are poised to fall at the open, tracking losses in New York as oil tumbled anew. Bitcoin hovers at $US44,000.
- Timothy Moore
Chinese lithium stocks surge, lifting hope rout almost done
China’s two biggest producers – Tianqi Lithium Corp and Ganfeng Lithium Group Co – closed up 6.5 per cent and 7 per cent in Hong Kong.
- Bloomberg News
Oil drops to a five-month low as US crude exports fuel pessimism
US benchmark West Texas Intermediate fell more than 4 per cent to break below $US70 a barrel. Brent crude slid below the $US75 mark.
- Julia Fanzeres and Alex Longley
Perpetual break-up long time in making as advisors worked the market
There was plenty of action leading up to the dual announcements on Wednesday, including attempts to cajole interest in the business for weeks.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Slowing economy fuels rate cut bets in Australia
Bonds rallied after weaker-than-expected GDP for third quarter stoked speculation the central bank could start easing monetary policy in 2024.
- Cecile Lefort
‘No bears left’ is worrying refrain coming from Wall Street
Overstretched technicals and the belief that the Federal Reserve will not cut interest rates as quickly as markets expect have turned equity strategists at JPMorgan and Morgan Stanley pessimistic.
- Sagarika Jaisinghani and Thyagaraju Adinarayan
Bitcoin’s ‘jet-fuelled’ jump pushes token above $US44,000
The largest digital asset’s 2023 rebound from last year’s crypto rout is now 165 per cent, buoyed by ETF hype and rate cut bets.
- Sunil Jagtiani
Sigma to reverse list Chemist Warehouse; preps $350m raise via Goldies
Sources said the two camps had essentially agreed terms for the listing, but there were no immediate plans to spin out warehouses.
- Sarah Thompson, Kanika Sood and Emma Rapaport
ASX jumps 1.7pc on rate cut bets; Perpetual climbs
Shares advance at the closing bell; Perpetual announces strategic review; Rio Tinto and Endeavour hold investor days; GDP expands 0.2 per cent in third quarter, missing forecasts. Follow updates here.
- Updated
- Timothy Moore, Joanne Tran, Cecile Lefort, Joshua Peach and Sarah Jones
These assets – including bitcoin – could lead a risk rally
Cryptocurrencies, small-cap stocks and corporate bonds boasting huge yields are all tipped as hot areas for investors prepared to take more risk.
- Tom Richardson
Vale says China can’t control price of iron ore
“The rule of economics [is] going to drive the price, the rule meaning supply and demand,” Vale chief executive Eduardo Bartolomeo says.
- Mariana Durao and Thomas Biesheuvel
ASX to rise, Apple rallies, US bond yields drop
Australian shares are set to open higher. The iPhone’s market cap is back at $US3 trillion. The 10-year yield at 4.17pc. Bitcoin eyes $US44,000. $A slides.
- Timothy Moore