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Markets

Equity markets

Today

ASX to slip as Wall Street’s interest rate fears rise

Australian shares are set to fall 0.7 per cent after a bumpy US session as traders await key jobs data and Fed officials signalled moves to crush inflation.

  • 1 hr ago

Yesterday

ASX closes little changed as OPEC output cut fuels energy rally

The S&P/ASX 200 added 1.8 points on Thursday, boosted by a 2.2 per cent advance by the energy sector which benefited from higher oil prices.

  • Alex Gluyas

ASX ends flat, energy outperforms, again

Magellan’s FUM falls 11.6pc in September. Appen plunges 16pc. Australia’s trade surplus narrows. AU bond yields rebound. Oil climbs on OPEC+. Follow the latest here.

  • Updated
  • Tom Richardson, Vesna Poljak, Alex Gluyas, Emma Rapaport and Cecile Lefort

Why Whitehaven Coal’s record rally has further to run

Glenmore’s Robert Gregory on why GQG is undervalued, owning Arena REIT as an inflation beneficiary, and reducing his position in Pinnacle.

  • Alex Gluyas

Fresh pain at Magellan, Appen contains hard lesson for investors

Magellan and Appen are in very different sectors, but they are both finding it very difficult to regain momentum in distressed markets.

  • James Thomson
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Life only gets harder for the non-bank lenders

The world had been kind to non-bank lenders, until now. Suddenly, they’re facing more hostile credit markets and rising interest rates.

  • Jonathan Shapiro

ASX to slip as Wall Street snaps two-day rally

Treasury yields regained ground amid the prospect of higher oil prices after OPEC cut supply. Brent crude was up 2 per cent at $93.67 a barrel.

  • Updated

This Month

Bad news is good news as shares rally on US jobs wobble

Australian shares had their best two-day rally since the start of the pandemic as investors seized on evidence of weaker US economic data as grounds for optimism that central banks will slow the pace of policy tightening and avert recession..

  • Alex Gluyas

We’ve gone from crisis to rally in two days. And that’s not crazy

The panic about the state of global markets has rapidly subsided. But investors hoping this rally will last should consider two key factors.

  • Updated
  • James Thomson

Shares rally 1.7pc as traders hope central bank pivot is near

The S&P/ASX 200 Index rallied 1.7 per cent to 6815.7 points. Link shares rose 6.7 per cent to $3.11 and James Hardie firmed 6.9 per cent to $34.29.

  • Vesna Poljak

Wave of profit downgrades about to hit, warns BlackRock

Earnings expectations remain too high and stocks are yet to fully price in higher rates and the prospect of a global recession, it said.

  • Updated
  • Alex Gluyas

ASX gains 1.7pc as rally continues; tech stocks surge; US futures fall

RBNZ lifts rates 0.5 per cent. ASIC sues Harvey Norman, Latitude. ANZ lifts RBA peak rate forecast to 3.6 per cent. Healthscope boss to step down. Link entertains fresh D&D offer for parts. Follow for updates.

  • Updated
  • Emma Rapaport, Vesna Poljak, Tom Richardson, Cecile Lefort and Alex Gluyas

Yarra seeks $100m (and five years) for pre-IPO fund

The timing of the Yarra Private Capital Discovery Fund is no accident. Led by David Acton, it will seek out private businesses emphasising growth and quality.

  • Updated
  • Vesna Poljak

ASX to rise, Wall Street’s best two-day rally in two years

Australian shares are set to advance after US stocks extended gains as investors grabbed bargains. Even Tesla rose on news Elon Musk will buy Twitter, which surged 22 per cent.

  • Updated

Credit Suisse a ‘buy for the brave’ as shares hit record low: Citi

With its share price at rock bottom, analysts say the stock is only a buy for investors with an iron stomach ahead of its strategic shift.

  • Emma Rapaport
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ASX rockets 3.8pc as RBA pivot soothes recession anxiety

The local sharemarket posted its best session in more than two years as the RBA’s shock move triggered a sharp fall in bond yields and the Aussie dollar.

  • Alex Gluyas

Falling bond yields trigger relief rally for shares

Weaker-than-expected US manufacturing data lifted hopes of a Fed pivot, while the UK government’s tax policy U-turn took on outsized importance.

  • Alex Gluyas

RBA ups cash rate 0.25pc, shares soar 3.75pc, terminal rate calls cut

NAB lifts home loan rates, CBA tips 2.85 per cent terminal rate, market consensus falls to 3.46pc in May 2023. RBA expects to increase in period ahead, inflation to rise. Follow here.

  • Tom Richardson, Alex Gluyas, Vesna Poljak, Cecile Lefort and Emma Rapaport

ASX set to surge after Wall Street jumps on weaker manufacturing data

Australian shares are poised to leap after US figures sent the Dow up 2.6 per cent as investors reassessed how high the Federal Reserve will raise interest rates. ASX futures are up 1.8 per cent.

  • Updated

Central banks trapped in their own Ponzi scheme

Macquarie’s Viktor Shvets says global markets are addicted to low rates and high liquidity, giving governors no choice but to pivot despite high inflation.

  • James Thomson