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- Markets Live
ASX slumps 1.3pc in sea of red, Bapcor jumps
Shares slump; AGL to buy $150m Kaluza shares; Beach Energy flags $400m hit; Bain bids for Bapcor; oil jumps. Follow updates here.
- 15 mins ago
- Timothy Moore, Cecile Lefort, Alex Gluyas, Joshua Peach, Sarah Jones and Joanne Tran
ASX to fall, Wall Street hovers near record highs
Australian shares are set to open down, tracking losses in Europe. Iron ore slides. S&P 500 edges higher with US CPI and Fed meeting later this week.
- Updated
- Timothy Moore
How China’s ‘big short’ moment catapulted Tribeca to big returns
Tribeca’s John Stover first heard rumblings about China property giant Evergrande back in 2021. A few months later, he began shorting the world’s largest housing market.
- Joshua Peach
Ellerston Capital snaps up IDP Education stake, hoping for rebound
The boutique fund manager’s Chris Kourtis told clients that the immigration restrictions weighing on the share price had created an “attractive entry point”.
- Joshua Peach
Far-right surges in EU elections | 2000 education jobs lost already | Questions still hang over Nine
Read everything that’s happened in the news so far today.
ASX to slump as hot US job market cools chance of rate cuts
Global stocks pulled back after employment figures came in well above expectations. In Australia, traders now say there is a 30 per cent chance of a rate cut.
- Cecile Lefort
Opinion & Analysis
How investors can insure against the next election shock
The European polls, including the shock result in France, are a reminder that the election risk is rising for investors. But there’s a possible way to take out insurance.
Columnist
There’s money to be made anticipating the next central bank pivot
After a period of synchronised monetary policy among developed markets, 2024 presents a new phase of divergence, creating opportunities for astute investors.
Contributor
What Australia’s great contrarian is buying – and avoiding
Soaring household debt will have ripple effects for ASX investors, according to Schroders’ head of Australian equity, Martin Conlon.
Columnist
Forget Wall Street’s deceiving new record, recession debate is back
The unstoppable Nvidia might be propelling Wall Street to new highs, but there’s a growing debate about whether US recession fears will revive the infamous “Fed put”.
Columnist
Companies in the News
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Westpac Banking Corporation
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Updated: Jun 11, 2024 – 11.54am. Data is 20 mins delayed.
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Meet the Fundie
L1’s activist fund is making investors and boards take notice
The hedge fund’s catalyst strategy has returned 42 per cent since its 2021 inception, and portfolio manager James Hawkins is eyeing up L1’s next target.
- Alex Gluyas
Bond returns are back and Pimco is ‘excited’
The $2.9 trillion fund manager is buying up Australian government bonds, among other things, betting that the Reserve Bank will need to cut rates less than the Fed. They are also wagering on the US housing market and consumer.
- Cecile Lefort
Airlie’s Emma Fisher is making her next big bets
Mineral Resources and Reece have been career-defining picks. This year, she’s sold down CBA and is going large on one of the most shorted stocks on the ASX.
- Sarah Jones
More From Today
- Opinion
- Chanticleer
How investors can insure against the next election shock
The European polls, including the shock result in France, are a reminder that the election risk is rising for investors. But there’s a possible way to take out insurance.
- James Thomson
Yesterday
‘Trading opportunity’ ahead, Macquarie tells clients
With dividend season approaching, the broker has told clients they can capitalise on the seasonal outperformance of REITs leading into their ex-dividend date.
- Alex Gluyas
- Opinion
- Interest rates
There’s money to be made anticipating the next central bank pivot
After a period of synchronised monetary policy among developed markets, 2024 presents a new phase of divergence, creating opportunities for astute investors.
- Arian Neiron
This Month
Strong US jobs growth dashes hopes of rate cut as Wall Street stocks close lower
The US economy generated far more jobs than forecast, prompting traders to slash their bets on an interest rate reduction in September.
- Updated
- Chibuike Oguh
- Opinion
- Chanticleer
What Australia’s great contrarian is buying – and avoiding
Soaring household debt will have ripple effects for ASX investors, according to Schroders’ head of Australian equity, Martin Conlon.
- Updated
- James Thomson
ECB’s historic rate cut | D-Day remembered | Private credit boom goes public
Read everything that’s happened in the news so far today.
- Updated
- Monetary policy
ECB’s inflation worries have traders fearing a rate cut go-slow
The European Central Bank dropped interest rates to 3.75 per cent after saying the inflation outlook had improved markedly. But, it was stickier than expected.
- Updated
- Cecile Lefort
ASX caps best week of 2024 as ECB cuts, commodities gain
Benchmark rallies 2pc over the week. Life360 hits Nasdaq boards. GQG lifts FUM. IDP Education rebounds. ECB cuts rate.
- Timothy Moore, Tom Richardson, Cecile Lefort, Sarah Jones, Alex Gluyas and Joshua Peach
ASX to edge up, Wall St awaits monthly jobs data
Australian shares are set to open modestly higher in line with muted trading in New York. ECB starts cutting rates. US payrolls at 10.30pm on Friday.
- Updated
- Timothy Moore
Canada first major central bank to cut rates ahead of ECB
The move comes ahead of a European Central Bank meeting on Thursday, which is also expected to reduce rates. The Fed is scheduled to meet next week.
- Updated
- Cecile Lefort and Sarah Jones
Iron ore to plunge below $US100 into a bear market: Citi
The broker has cut its iron ore forecasts for the second time in the past month, as analysts turn increasingly pessimistic on Australia’s chief export.
- Alex Gluyas
A biotech boom for the ASX? This fundie thinks so
SG Hiscock’s Rory Hunter thinks CSL could “absolutely” hit $500, says biotechs are ripe for M&A, and reveals a hidden gem flying under the market’s radar.
- Alex Gluyas
- Opinion
- Chanticleer
Forget Wall Street’s deceiving new record, recession debate is back
The unstoppable Nvidia might be propelling Wall Street to new highs, but there’s a growing debate about whether US recession fears will revive the infamous “Fed put”.
- James Thomson
Shares rise; CBA hits record high, ECB tipped to cut rates ahead
Bank of Canada cuts cash rates Wall St hits records. SkyCity slashes guidance, warns on NZ economy. Telix unveils Nasdaq IPO. Magellan narrows outflows. Gold, oil rise. Follow here.
- Timothy Moore, Tom Richardson, Cecile Lefort, Alex Gluyas, Sarah Jones and Joshua Peach
ASX to rise, Nvidia leads megacap tech rally
Australian shares are set to open higher. S&P 500 resets all-time high. Nvidia market cap tops Apple. Bitcoin above $US71,000.
- Updated
- Timothy Moore
- Opinion
- Chanticleer
Investors’ big worry from GDP data isn’t what you think
The March quarter GDP numbers suggest a whiff of stagflation in the air. But the real story is of surprising economic resilience.
- James Thomson
India’s stock crash triggers rethink for investors
A shock election result has changed the fortunes for one of the world’s best-performing sharemarkets, causing investors to re-position.
- Alex Gluyas and Jessica Sier
GDP revisions dent hopes of RBA rate cuts
Traders push back the timing of rate cuts to July next year after “material” revisions in GDP data indicated household finances were more robust than many feared.
- Cecile Lefort
ASX closes higher; property stocks, Treasury Wine rally
Real estate, banks buoy sharemarket despite lower commodities prices. GDP growths stalls in first quarter. Rates on hold for now. Bitcoin above $US70,000.
- Updated
- Timothy Moore, Joshua Peach, Sarah Jones, Cecile Lefort and Alex Gluyas
Economy grows by 0.1pc | RBA to ignore energy rebate | Medibank faces $21.5 trillion fine
Read everything that’s happened in the news so far today.
