Tag: asx

  • ASX to rise; Alphabet plunges 13pc; Amazon misses estimates | Shares of Google’s parent company…

    ASX to rise; Alphabet plunges 13pc; Amazon misses estimates | Shares of Google’s parent company…

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    ASX to rise; Alphabet plunges 13pc; Amazon misses estimates

    ASX rises as Coles dives more than 10pc on sales miss

    The sharemarket opened higher on Friday morning, insulated from a sell-off in Wall Street technology stocks as Alphabet crashed more than 12 per cent after reporting weaker-than-expected earnings.

    The S&P/ASX 200 Index rose 41.7 points, or 0.5 per cent, to 8933.5 as at 10.03am (AEDT), as nine of the 11 sectors opened in the green. On the other end, Coles dived more than 10 per cent at market open after a disappointing sales update, dragging consumer staples down nearly 4 per cent.

    More than $US500 billion ($711 billion) in value was wiped from Google owner Alphabet over fears that artificial intelligence is eating into its main advertising business. It was the biggest one-day fall in the tech giant’s history, and is the latest sign of cracks in the artificial intelligence trade. The Nasdaq was down 1.6 per cent, and the semiconductor index fell 2.1 per cent.

    Shares of Google’s parent company just had their worst day ever. Here’s what it means | CNN Business

    Shares of Google’s parent company tumbled more than 12% on Thursday, their worst day on record — a historic single-day decline bigger than any day during the Covid-19 pandemic or 2008 financial crisis.

    The drop erased roughly half a trillion in Alphabet’s (GOOGL) market value, the second-largest single-day wipeout in history, after Nvidia’s nearly-$600 billion slide in early 2025.

    Investors are increasingly scrutinizing Big Tech’s AI spending spree and how the technology is affecting their own businesses — and Alphabet is their latest target.

    The company’s shares dropped sharply as investors fretted over slowing growth in Google’s search advertising business occurring alongside a continued ramp-up in spending on AI.

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    Value of Google parent Alphabet plunges by $500bn as AI fears rattle Wall Street

    Google parent Alphabet lost just over $500bn (£374bn) in value on Thursday after it rattled Wall Street with its last update of the year on its business operations.

    Google spooked investors so badly that its stock hit a six-month low, after it revealed its artificial intelligence (AI) summaries on search were affecting ad revenue.

    Microsoft and Amazon also updated investors this week, and joined Google in plans to keep spending astronomical sums of cash in an ongoing AI race.

    But investors appeared dismayed at the impacts these plans are having on the ability of each to keep growing their core lines of business.

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  • ASX 200 LIVE: Australian shares set to open lower, China and US price reports pending | ASX slips…

    ASX 200 LIVE: Australian shares set to open lower, China and US price reports pending | ASX slips…

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    ASX 200 LIVE: Australian shares set to open lower, China and US price reports pending

    The Australian sharemarket closed lower on Wednesday, dragged down by a sell-off in the big four lenders.

    The S&P/ASX 200 Index dropped 56 points, or 0.6 per cent, to 8727.9, with only five of the 11 sectors trading in the green, including energy companies that were buoyed by the higher oil price at $US106 a barrel.

    The communications sector also crept higher as Telstra rebounded 1.3 per cent to $4.70 off a recent sell-off on SpaceX’s spectrum deal.

    Local bank stocks fell amid a lukewarm reaction to the first round of Wall Street’s third-quarter earnings overnight, which included results from major lenders such as JPMorgan and Goldman Sachs. Investors also awaited the release of US inflation data.

    ASX slips, Commonwealth Bank faces shareholders — as it happened

    The ASX lost ground after a negative close on Wall Street. Major bank stocks fell, including CBA, which detailed its AI rollout at its annual meeting. 

    Catch up on the day's events and insights from our business reporters on the ABC News live markets blog.

    Australia's share market lost 0.64% of its value today, dragged down by losses in financials, basic materials, and industrials.

    The ASX200 index is virtually unchanged over the last five days and over the year-to-date.

    Australia's national unemployment rate has been slowly increasing over the last four years, from a low of 3.4% in October 2022 to 4.6% in August this year.  Will it keep increasing in coming months?

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    Banks weigh down ASX after US earnings spook markets

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    Australian shares have dipped following a sharp sell-off in the major banks, after disappointing earnings from their US counterparts highlighted the challenging backdrop for financial institutions.

    The S&P/ASX200 fell 56 points on Wednesday, down 0.64 per cent, to 8727.9, as the broader All Ordinaries dropped 52.5 points, or 0.59 per cent, to 8869.

    The heavyweight financials sector tumbled 1.6 per cent as the big four banks sold off, after US bank earnings failed to impress investors and a shareholder address from CommBank boss Matt Comyn noted a host of local and international economic headwinds. Commonwealth Bank slumped 2.2 per cent, National Australia Bank shed 1.8 per cent, Westpac fell 1.3 per cent and ANZ Bank slid0.2 per cent.

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  • ASX 200 LIVE: Australia employment rate increases in August, jobless rate rises to 4.6 per cent |…

    ASX 200 LIVE: Australia employment rate increases in August, jobless rate rises to 4.6 per cent |…

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    ASX 200 LIVE: Australia employment rate increases in August, jobless rate rises to 4.6 per cent

    Oil prices lower as Iran open to diplomatic end to war

    Jobs numbers ‘final nail in the coffin’ for RBA rate rise

    The Australian sharemarket is lower after unemployment rose, in line with losses in New York as oil surged back above $US100 a barrel and bond yields spiked higher.

    The S&P/ASX 200 Index fell 73 points, or 0.3 per cent, to 8692.70 at 2.15pm on Thursday. Two of the 11 sectors were in the green, led by energy.

    New data published on Thursday showed the unemployment rate in Australia rose to 4.6 per cent in August despite the economy adding 39,500 jobs.

    The S&P 500 slipped 0.8 per cent, and the Nasdaq dropped 1.1 per cent overnight, retreating from recent highs as the yield on US 10-year bonds leapt to 5.11 per cent.

    Unemployment rises to 4.6%, but a September interest rate hike still looks likely

    Unemployment rose to 4.6% in August, new Australian Bureau of Statistics figures show. That’s the highest it’s been since November 2021.

    Since the start of this year, Australia’s unemployment rate has increased by 0.5 percentage points, up from 4.1% last December.

    However, that upward trend appears unlikely to dissuade the Reserve Bank board from lifting interest rates next week, given the central bank’s recent stern warnings about fighting inflation.

    On Tuesday, Reserve Bank Governor Michele Bullock warned that unemployment may need to rise further to help rein in inflation:

    I think [an unemployment rate] between 4.5% and 5% will probably take enough heat out of the labour market that it’ll ease pressure on inflation.

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    Surprise unemployment jump ahead of RBA’s looming rates call

    The unemployment rate has unexpectedly risen after 6000 people lost their full-time jobs in August, but it’s unlikely to spare Australians from another rate hike next week.

    New data released on Thursday morning by the Australian Bureau of Statistics showed the jobless rate rose to 4.6 per cent for last month, up from 4.5 per cent in July.

    The jump in unemployment will factor into the RBA’s next interest rate decision, to be handed down on Tuesday. Peter Rae

    It is the highest unemployment level recorded in Australia since the end of the pandemic.

    Economists had expected the figure to remain steady at 4.5 per cent.

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  • Live: ASX to rise, AI rally pushes Nasdaq to record high, oil falls below $US100 | ASX 200 LIVE: …

    Live: ASX to rise, AI rally pushes Nasdaq to record high, oil falls below $US100 | ASX 200 LIVE: …

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    Live: ASX to rise, AI rally pushes Nasdaq to record high, oil falls below $US100

    The Australian share market is likely to start the day higher after Wall Street's AI stocks surged, pushing the tech-heavy Nasdaq index to a new record high.

    Oil prices fell to their lowest level since early September on investors' renewed hopes for a diplomatic breakthrough to end the US-Iran war.

    40 year from now,  Australian will have fewer babies due to a declining fertility rate.

    That is Treasury's prediction of how things will look in 2066, according to its latest Intergenerational Report.

    The forecast for Australia in 2066 also points to slower growth, mounting pressure from an aging population, and growing intergenerational pressures, particularly around housing and wealth.

    ASX 200 LIVE: ASX to rise, Wall St rallies on tech, oil falls, bitcoin surges towards $US86,000

    Australian shares are set to open higher, bolstered by gains on Wall Street, a sharp drop in the oil price, and easing global bond yields. Bitcoin briefly topped $US87,000 late in New York.

    ASX 200 futures were up 29 points or 0.3 per cent to 8809. At the close in New York, the S&P 500 was 1.5 per cent higher. Communication services leapt 3.9 per cent, while information technology advanced 2.5 per cent. Energy stocks slumped 2.6 per cent while oil briefly traded below $US100 a barrel.

    The S&P 500 is now within 0.4 per cent of the record it set last month. The Nasdaq Composite reset its closing high at 27,122.09.

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    Nasdaq jumps 2% to close at a record, buoyed by surge in AI stocks, as well as cooling oil and yields

    U.S. stocks rose on Monday as key technology names advanced and oil prices and Treasury yields slipped, with Wall Street looking to recover from a mostly lower week.

    The S&P 500 climbed 1.49% to end at 7,764.70, while the Nasdaq Composite gained 2.26% for a record close of 27,122.09 — its first since June. The Dow Jones Industrial Average added 366.19 points, or 0.71%, to settle at 52,048.83.

    The broader market was supported by a rise in artificial intelligence-related stocks. Shares of Intel popped 12%, while Advanced Micro Devices added about 10% and hit $1 trillion in market cap. Others such as Qualcomm increased more than 9% as well.

    Last week, the Dow slid 1.7% for its worst performance since March. The S&P 500 was off about 0.1%. Only the tech-heavy Nasdaq posted a gain, up 0.7%.

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  • ASX hits two-month low; Gina Rinehart backs White Cliff Minerals | Gina Rinehart buys into estran…

    ASX hits two-month low; Gina Rinehart backs White Cliff Minerals | Gina Rinehart buys into estran…

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    ASX hits two-month low; Gina Rinehart backs White Cliff Minerals

    Australian shares hit a two-month low as soaring oil prices and mounting expectations of looming interest rate increases in the United States and Japan dented risk appetite.

    The S&P/ASX 200 Index fell 74 points, or 0.9 per cent, to 8675.6 around lunchtime, the lowest level since early July. Six out of the 11 sectors were flashing red, led by miners and banks.

    Brent futures climbed 1 per cent in morning trade to $US106.68 a barrel, as hostilities in the Middle East continued. A key East-West Pipeline in Saudi Arabia was temporarily shut after a drone attack, which threatened up to 4 per cent of global oil supply.

    Gina Rinehart buys into estranged son’s Canadian copper company

    Gina Rinehart, the nation’s richest person, has bought an $8.8 million stake in a Canada-focused copper company where her estranged son, John Hancock, is a director and shareholder.

    The share placement is through Hancock Prospecting, one of Australia’s largest private companies, and will give Rinehart a 13.5 per cent holding in copper group White Cliff, where her son sits on the board.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Live: ASX down despite bumper Woolies profit as traders increase rate rise bets | The Aussie doll…

    Live: ASX down despite bumper Woolies profit as traders increase rate rise bets | The Aussie doll…

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    Live: ASX down despite bumper Woolies profit as traders increase rate rise bets

    Australia's largest supermarket chain, Woolworths, has seen its profit surge by 18 per cent in the last financial year to $1.138 billion. Despite this, July inflation figures show annual price pressures easing across the economy.

    Meanwhile, one of Australia's largest private credit investment managers has limited redemptions on its $2.3 billion secured property loan fund.

    Follow the day's financial news and insights from our specialist business reporters on our live blog.

    It released its half-year profit results this morning, with first half revenue, recurring revenue, and gross profit margin all up.

    But its underlying EBITDA was -$12.4 million (-256% on the previous corresponding period), with lower gross margin and increased fixed base for scaled operations, and increased wages and sales and marketing costs, and it reported a statutory loss after tax of $32.2 million (compared with $2.1 million profit after tax in PCP), after individually significant items of $15 million.

    The Aussie dollar just did something it hasn’t managed for months

    The Aussie dollar surged and share market stuttered following the release of inflation figures in a clear sign traders are genuinely entertaining the chance of another interest rate hike.

    Wednesday’s data put inflation for the 12 months to July at 3.5 per cent, and the all-important trimmed mean – the RBA’s preferred underlying measure – at 3.6 per cent.

    The Australian dollar jumped after inflation figures on Wednesday in a clear sign traders are expecting another interest rate hike. Wayne Taylor/AFR

    While the headline figure was a 0.3 per cent slowdown from June and the trimmed mean was steady, both remain well beyond the 2-3 per cent target, and both were higher than market forecasts of 3.2-3.3 and 3.5 per cent respectively.

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    ASX 200 LIVE: ASX turns down after CPI; Deutsche Bank tips September rate rise

    ASX turns down as CPI miss increases odds of RBA rate rise

    Hot CPI a kick in the guts for ailing economy: Betashares

    The Australian sharemarket erased gains on Wednesday after inflation came in stronger than expected, keeping the risk of further interest rate increases by the Reserve Bank of Australia in play.

    The S&P/ASX 200 Index was down by 0.1 per cent, or 13 points, to 9151.60 at 2.03pm AEST, after being up by more than 0.6 per cent before the Australian Bureau of Statistics released the July price data.

    While inflation slowed from 3.8 per cent in June to 3.5 per cent last month, it was above the 3.3 per cent forecast by economists. Trimmed mean – the RBA’s preferred gauge – held at 3.6 per cent.

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  • These 3 ASX income shares just hiked their dividends | ASX Dividend Lift: Why ABB and ALI Are Bac…

    These 3 ASX income shares just hiked their dividends | ASX Dividend Lift: Why ABB and ALI Are Bac…

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    These 3 ASX income shares just hiked their dividends

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    These 2 ASX shares have given investors a 2026 dividend pay rise

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  • ASX 200 LIVE: ASX rises for second day; Coles jumps on result, BHP at record, bitcoin hits three-…

    ASX 200 LIVE: ASX rises for second day; Coles jumps on result, BHP at record, bitcoin hits three-…

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    ASX 200 LIVE: ASX rises for second day; Coles jumps on result, BHP at record, bitcoin hits three-month high

    Oil edges higher as Bessent vows punishment for Iran’s partners

    The Australian sharemarket climbed for the second session on Tuesday as the high-flying healthcare sector continued its stellar run and investors digested another round of corporate results.

    The S&P/ASX 200 Index finished up 0.7 per cent, or 61.50 points, at 9164.60, with nine of the 11 sectors stronger.

    Investors also shifted into other risk assets, with bitcoin climbing to $US80,000 for the first time since May, while the market also weighed the minutes from the Reserve Bank of Australia’s August meeting, which showed several members think another interest rate rise may be required to return inflation to target.

    ASX gains as Coles, Ansell rise, BHP hits record; Woodside falls

    The Australian sharemarket advanced for a second straight day after a flurry of corporate results fuelled broad-based gains, helping it shrug off a mixed finish on Wall Street.

    The S&P/ASX 200 finished 61.50 points, or 0.7 per cent, higher at 9164.60, with all 11 industry sectors bar energy in the green. The local market added 0.5 per cent on Monday. The Australian dollar was trading at US71.48¢.

    Reporting season continued, with Coles, Woodside Energy and Ansell among companies that released results. Investors also digested the minutes of the Reserve Bank’s latest meeting, when it kept interest rates on hold.

    The central bank two weeks ago chose to keep its key rate unchanged at 4.35 per cent on signs that elevated inflation was gradually easing and the labour market beginning to loosen, giving it scope to assess incoming data for any signs that upside risks might “crystallise”.

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    Australian Shares Rise; Woodside Energy Group H1 Earnings, Revenue Up

    Australian shares closed up on Tuesday as investors reacted to new sanctions on Iran.The S&P/ASX 200 Index gained 0.68%, or 61.50 points, to close at 9,164.60.Overnight on Wall Street, the S&P 500 fell by 0.3%, and the Nasdaq Composite by 0.8%. Meanwhile, the Dow Jones gained 0.3%.Brent crude futures ​rose to trade around $92 per barrel as the US sought to increase economic pressure on Iran.On the domestic front, the ANZ-Roy Morgan Australian Consumer Confidence rose 1 point to 77.5 in the week of Aug. 24 to Aug. 30, with the series now at its highest level since the escalation of the conflict in the Middle East, ANZ Research reported.The Reserve Bank of Australia's Monetary Policy Board considered raising the cash rate by 25 basis points at its August meeting before ultimately deciding to hold, with members debating whether upside risks to inflation warranted pre-emptive action or whether existing policy settings were already sufficiently restrictive, according to minutes of the meeting.In company news, Woodside Energy Group (ASX:WDS) logged $0.873 in earnings per share for the first half, compared with $0.688 a year ago. For the six months ended June 30, operating revenue was $7.45 billion versus $6.59 billion previously.Viva Energy Group (ASX:VEA) logged AU$0.227 in underlying EPS on a replacement cost basis for the first half of the year, compared with AU$0.039 a year ago. For the six months ended June 30, revenue was AU$16.49 billion versus AU$14.96 billion previously.Lastly, ARB (ASX:ARB) logged AU$1.107 in earnings per share for fiscal 2026, compared with AU$1.177 a year ago. For the 12 months ended June 30, sales revenue was AU$702 million versus AU$729.9 million previously. Its shares closed up over 12%.

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  • ASX LIVE: ASX falls; EQT shares surge 12pc on BGH Capital takeover bid | ASX slides for second we…

    ASX LIVE: ASX falls; EQT shares surge 12pc on BGH Capital takeover bid | ASX slides for second we…

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    ASX LIVE: ASX falls; EQT shares surge 12pc on BGH Capital takeover bid

    ASX falls; GYG surges; bitcoin up nearly 20pc for the week

    Gold set for third weekly gain on US Treasury buyback plans

    Oil set for weekly surge as US seeks to throttle Iran’s economy

    Australian shares finished the week down 0.6 per cent as the oil price pushed higher and US Treasury Secretary Scott Bessent’s effort to steady the bond market proved fleeting.

    The S&P/ASX 200 Index fell 24.9 points, or 0.3 per cent, to 9058.9 on Friday, with six out of the 11 sectors in the red.

    This followed a nearly 1 per cent fall on Wall Street as the yield on the US 10-year note rose 6 basis points to 4.70 per cent. The effect of Bessent’s buybacks of long-dated government debt had worn off after just 24 hours.

    ASX slides for second week amid sell-off in local banks

    Australian shares have fallen for a second week amid high oil prices, US bond market concerns and a sell-off in local banks as housing market gloom persists.

    The S&P/ASX200 fell 24.9 points on Friday, down 0.27 per cent, to 9,058.9, as the broader All Ordinaries lost 28.8 points, or 0.31 per cent, to 9269.7.

    The top 200 has dropped almost 2.5 per cent since resetting record highs earlier in August after housing market concerns sparked a banking sell-off that has loomed large over earnings season.

    Energy and gold stocks offered some support as oil prices climbed and historically high US debt and Treasury yields rattled investors, prompting the US government to intervene in its roughly $US60 trillion ($A84 trillion) bond market.

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  • ASX 200 LIVE updates: Cochlear profit sinks in earnings season result; CSL eyes 5pc profit growth…

    ASX 200 LIVE updates: Cochlear profit sinks in earnings season result; CSL eyes 5pc profit growth…

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    ASX 200 LIVE updates: Cochlear profit sinks in earnings season result; CSL eyes 5pc profit growth after net loss

    EML Payments cuts losses and forecasts return to profit next year

    Australian shares are set to open lower with oil topping the $US90 a barrel mark after President Donald Trump threatened to bomb Oman if it interferes with his negotiations with Iran on the Strait of Hormuz.

    S&P/ASX 200 futures were down 36 points or 0.4 per cent to 8976. The S&P 500 slipped 0.5 per cent in New York. Communication services led 10 of the 11 industry sectors down, with energy the only one to advance.

    Thierry Wizman, global FX and rates strategist at Macquarie Group, said there are three “unresolved” narratives within markets. The first is the price of oil, the second is the US Federal Reserve and the third is the fate of the Japanese yen.

    Live: Australia's biggest company BHP to report earnings, US markets fall on conflict fears

    Australia's biggest company BHP has reported a 30 per cent profit jump on high copper prices, as we delve into the books of some of the nation's most valuable listed companies.

    US markets have fallen on fears of an expanded conflict in the Middle East. 

    Follow the day's financial news and insights from our specialist business reporters on our live blog.

    Former BP Australasia president and director of pro-climate action organisation the Climate Council Greg Bourne doesn't want people to forget the substantial subsidy taxpayers make towards the big profits enjoyed by mega-miner BHP.

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    ASX set to slide, Wall Street retreats as oil prices climb; BHP, CSL results ahead

    US stocks are edging further from their record heights on Monday, ahead of a week where profit reports from the nation’s biggest retailers could give a hint about how shoppers are dealing with high inflation and a slowing job market.

    The S&P 500 slipped 0.4 per cent but remains near its all-time high set Thursday. The Dow Jones Industrial Average was down 284 points, or 0.5 per cent, in mid-afternoon trade, and the Nasdaq composite was 0.3 per cent lower.

    The Australian sharemarket is set to decline, with futures at 5.58am AEST pointing to a fall of 48 points, or 0.5 per cent, at the open. The ASX lost 0.5 per cent on Monday. The Australian dollar is stronger at US71.03¢.

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