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Commonwealth Bank rally threatens to dethrone BHP as ASX top stock
A 25 per cent rally in the country’s largest bank has placed it within striking distance of the miner, the most valuable company for more than two years.
- 8 mins ago
- Joshua Peach and Tom Richardson
Investors see uranium riches if Coalition’s nuclear plan takes off
The country’s largest uranium developer could almost triple in value if Australia relaxed its restrictive position on the energy source, Morgan Stanley says.
- Joshua Peach
GyG’s winning bank; PM addresses gas risk; It’s Bullock v burritos
Read everything that’s happened in the news so far today.
- Live
- Markets Live
Shares rise; CBA nears BHP as market’s largest company, MinRes dives
Miners fall again. GyG weaker. Retailers warn on weak sales as living costs rise. Japanese yen weakens on inflation data. US equities mixed. Swiss National Bank cuts rates. Follow here.
- Timothy Moore, Tom Richardson, Alex Gluyas, Cecile Lefort, Joanne Tran and Joshua Peach
ASX to rise, S&P 500 struggles near record highs
Australian shares are set to edge higher as futures reversed direction. Nvidia, Apple and Tesla pulled back, dragging on the Nasdaq. S&P 500 briefly tops 5500.
- Updated
- Timothy Moore
- Updated
- Cryptocurrencies
Launch of ASX’s first bitcoin ETF sparks price war
The launch on Thursday morning has drawn a strong response from competitors operating on a rival exchange.
- Updated
- Joshua Peach
Opinion & Analysis
Winners are grinners at Guzman y Gomez, but real test to come
TDM Growth Partners’ initial $40 million bet has delivered a massive return. But while first-day profits are nice, it’s long-term success that counts.
Columnist
How the market lost its mind over the Guzman y Gomez float
The reaction to the fast-food group’s IPO has startled many market watchers. But strip away the memes, hoodies, bulls and bears, and it’s all about valuation.
Columnist
Why Nvidia’s rise is stunning – and scary
It’s no surprise Nvidia has become the world’s most valuable company, but it’s 43 per cent surge in just a month suggests emotion is driving the stock – and the broader market.
Columnist
What past IPO disasters tell us about Guzman y Gomez’s $2.2b float
The Mexican fast-food chain float has split opinions among Sydney’s investing community, and revealed the deep scars inflicted by failed floats of the past.
Senior reporter
Companies in the News
National Australia Bank
Commonwealth Bank
ASX Limited
Westpac Banking Corporation
Updated: Jun 21, 2024 – 4.24pm. Data is 20 mins delayed.
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Meet the Fundie
Riding the wave: this Regal-backed fund is betting big on water
Kilter Rural’s Euan Friday predicts water prices will rocket 300 per cent this year, after huge government intervention and the weather dries up.
- Cecile Lefort
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
More From Today
- Opinion
- Chanticleer
Winners are grinners at Guzman y Gomez, but real test to come
TDM Growth Partners’ initial $40 million bet has delivered a massive return. But while first-day profits are nice, it’s long-term success that counts.
- James Thomson
Yesterday
Wilson’s Oberg is tipping 50pc upside in this small-cap stock
Wilson Assets Management’s Oscar Oberg is bullish on Iress even as its share price has tanked. He also like G8 Education and reveals why he is looking to buy up retail stocks again.
- Updated
- Joanne Tran
Why the chances of a rate rise are higher than you think
Traders are largely ignoring the prospect of higher borrowing costs, despite the Reserve Bank’s growing concerns about still-high inflation, rate specialists warn.
- Cecile Lefort
Guzman lists on ASX; Dutton ‘to reveal nuke costs’; Secret GYG winner
Read everything that’s happened in the news so far today.
Shares slip; Guzman y Gomez surges, Bank of England ahead
Bank of England, Swiss National Bank to hand down rates decisions. Guzman y Gomez targets more than 1000 stores in Australia. Bitcoin fund lists on ASX. Follow updates here.
- Timothy Moore, Tom Richardson, Sarah Jones, Alex Gluyas, Cecile Lefort, Joshua Peach and Joanne Tran
ASX to slip, European stocks mostly lower
Australian shares are set to open modestly down. Wall Street was closed for a federal holiday. Bank of England expected to keep rates steady.
- Updated
- Timothy Moore
This Month
- Opinion
- Chanticleer
How the market lost its mind over the Guzman y Gomez float
The reaction to the fast-food group’s IPO has startled many market watchers. But strip away the memes, hoodies, bulls and bears, and it’s all about valuation.
- Updated
- James Thomson
ASX tips lower; energy stocks gain, WA1 Resources soars 25pc
Australian shares end lower. CSR bows out of ASX after six-decade run. Beach Energy hit with broker downgrades. Helia Group sinks on CBA review.
- Updated
- Timothy Moore, Joshua Peach, Alex Gluyas, Cecile Lefort, Joanne Tran and Sarah Jones
Here’s how investors should trade the US election
Goldman Sachs says these commodities are the best way to protect investments against the threat of a fresh wave of inflation.
- Alex Gluyas
Hack wipes $140m from Melbourne mansion-owning crypto king
Michael Egorov, who spent $59 million purchasing two mansions in Hawthorn, said I “don’t really live in Australia”. His curve token plunged last week.
- Tom Richardson
Rate increase ‘more likely this year’ after RBA’s tough talk
An increasing number of economists say the next policy meeting in August is “live” for a rate rise after the central bank’s language at this week’s meeting.
- Cecile Lefort
ASX bitcoin ETF launch opens gates to wider cryptocurrency industry
The markets watchdog has told investors to “only put in what they are prepared to lose” after Australia’s main exchange operator opened the door to bitcoin.
- Updated
- Joshua Peach
Nuclear sites revealed; Trump, Biden switch; Nvidia’s scary rise
Read everything that’s happened in the news so far today.
- Updated
- Opinion
- Chanticleer
Why Nvidia’s rise is stunning – and scary
It’s no surprise Nvidia has become the world’s most valuable company, but it’s 43 per cent surge in just a month suggests emotion is driving the stock – and the broader market.
- James Thomson
ASX to slip, Nvidia takes market-cap title
Australian shares are set to open modestly lower. Nvidia extended its rally, while Microsoft and Apple pulled back. US consumers slow down.
- Updated
- Timothy Moore
Nvidia eclipses Microsoft as world’s most valuable company
Shares of the chipmaker climbed 3.5 per cent, lifting its market capitalisation above Microsoft, just days after it overtook Apple.
- Shristi Achar A and Noel Randewich
Rate cut hopes fade as RBA sounds the alarm on inflation
Traders have pared back wagers for an interest rate cut in 2024 after the Reserve Bank said it was alert to upside risks to inflation.
- Cecile Lefort and Jonathan Shapiro
Bargain hunters eye brutal metals correction
Copper, aluminium and nickel prices have slumped more than 10 per cent from their May highs, creating a good entry point for investors to step back in, according to strategists.
- Updated
- Alex Gluyas
Why Regal’s Phil King is shorting CBA
The Regal Partners investment chief has made the so-called “widowmaker” trade in betting against the nation’s largest bank.
- Joshua Peach
NSW budget winners; Bitcoin ETFs arrive in Oz; 15 ASX stock picks
Read everything that’s happened in the news so far today.
