June 26, 2024

So, what’s the fallout from the surprise 4% annual reading of monthly inflation from the Australian Bureau of Statistics? There was the usual ‘rate rise looms’ knee-jerk reaction from some quarters, but most analysts and economists cautioned that while the news is not good, it shouldn’t generate a premature reaction. The inflation data hit consumer […]

Equity markets hovered around flat most of the day as investors stayed on the sidelines ahead of key inflation data due out on Friday. The S&P 500 managed to tip into the green closing 0.16 per cent higher. The Dow Jones also managed a positive close finishing 0.04 per cent higher. The tech heavy Nasdaq

Australia’s sharemarket fell over 50 points on Wednesday, with the S&P/ASX 200 dropping 0.7% to 7779.5, following a spike in May’s consumer price index to 4%, higher than expected. Interest rate-sensitive sectors like banking, real estate, and consumer discretionary saw significant sell-offs as the likelihood of a rate hike by the Reserve Bank increased. Meanwhile,

  Australia’s Monthly Inflation indicator rose by 4% over the year to May, higher than the 3.8% expected by economists. Annual inflation has ticked up every month since March and is now at the highest pace in the past 6 months.The monthly CPI indicator tends to be noisier than the official CPI and does not

Companies discussed include: Perpetual Limited (ASX:PPT)Computershare Limited (ASX:CPU)

For the second time this month, Warren Buffett’s Berkshire Hathaway has cut its holding in Chinese EV and battery giant BYD. In a filing with the Hong Kong Stock Exchange, Berkshire revealed Tuesday that it had sold down its stake to less than 6% on June 19. Berkshire cut its stake from 6.18% to 5.99%

Star Entertainment (ASX:SGR), the struggling Sydney-based casino group, seems to have a more positive future with the confirmation of a much-tipped CEO, Steve McCann. McCann, a former CEO of Crown Resorts and Lendlease, has considerable experience dealing with companies in difficult situations. His appointment was announced Wednesday morning by recently named chair Anne Ward, who,

Actinogen Medical (ASX:ACW) announced positive results from the Xanamem® phase 2a biomarker trial in patients with elevated blood pTau. In response, Dr Dana Hilt, the Company’s Chief Medical Officer said, “to our knowledge Xanamem is the first drug of this class to have such compelling data.” Shares are trading 12.9 per cent higher at 3.5

Australian shares declined, mirroring losses seen in European and American markets, as investors awaited the release of Australia’s monthly CPI data. The upcoming inflation figures, anticipated to increase from 3.6 per cent to 3.8 per cent annually, are crucial amid global economic uncertainties. At 11:35am, the S&P/ASX 200 is 1.05 per cent lower at 7,756.60.