Australian Indexes in Worst Weekly Loss in Eight Months
Australian stocks traded lower and the benchmark index closed down 2.7% on Friday and plunged 5.6% in the week. The weekly loss was the worst in the last eight months. The Australian dollar traded near the low of the year.
Japan GDP Expands in March Quarter, Volatile Stocks in Tokyo
Stocks in Tokyo rebounded in choppy trading after GDP in the last fiscal quarter to March increased 4.1% from a year ago. The GDP declined 0.01% in the year after exports plunged on supply chain disruptions. Toshiba said it will stop making television ...
Australian Markets Plunge to 2-month Low, Dollar Slumps
Australian stocks plunged as the index dropped the most in one day in six months and extended losses in the last two months. The dollar fell to the low of the year. BHP Chairman Jacque Nasser estimated commodities prices are expected fall further and t...
Australian Miners Down on Euro Zone Worries
Australian stocks eased on the growing confirmation that the euro zone is sliding into a recession and Greece is likely to face another parliamentary election as early as next month. Resources linked stocks declined and gold and energy stocks led the l...
Australian Indexes Dive 2% on Global Worries
Australian indexes declined more than 2% on the global slowdown worries after the election results in Europe. Australian retail sales were ahead of expectations in March but new jobs ads declined in April according to a private survey.
Australian Lowers Growth Outlook Ahead of Budget on Monday
Reserve Bank of Australia trimmed growth and inflation expectations for the year and said growth in the mining sector were offset by the weakness in hospitality, retail and manufacturing. Australian government is set to target budget surplus in its lat...
Australian Stocks Ease; Earnings Decline at Harvey Norman, Westpac
Australian stocks ended lower after commodities eased in international markets. Westpac said first half net declined 25% on the rising costs of bad debts and passed on only 32 basis points of the 50 basis points rate cut. Harvey Norman reported weak re...
ANZ Net Up 5%, Murdoch Faces More Calls to Resign
The Australian market index closed higher and major banks failed to pass on the latest rate cut to consumers. ANZ said first half profit increased 5% to a record high. News Corp rose on the prospect that Rupert Murdoch may be forced out after the lates...
Australian Banks Defy Latest RBA Rate Cut, Stocks Up
Australian stocks gained after the Reserve Bank of Australia cut rates by 50 basis points. The market rally was short lived after large banks failed to follow the move. Rupert Murdoch was deemed unfit to run UK newspaper business. Woodside sold a stake...
Australian New Home Sales Plunge 9.4%, Spotless Agrees to Buyout
Australian stocks gained after copper prices edged up but trading was subdued as markets were closed in Japan and in mainland China. New home sales dropped 9.4% in March and home sales dropped across all states as buyers stay away from record high sale...
Australian Stocks Edge Lower; Sundance Resources, Cameroon Sign a Deal
Stocks in Australian edged lower after international worries overshadowed domestic news. Sundance Resources gained after it signed a deal with Cameroon government. The troubled printer PMP may pursue a highly conditional offer.
Australian Stocks Edge Lower; Sundance Resources, Cameroon Sign a Deal
Stocks in Australian edged lower after international worries overshadowed domestic news. Sundance Resources gained after it signed a deal with Cameroon government. The troubled printer PMP may pursue a highly conditional offer.
