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Westpac (ASX:WBC) has disclosed an unaudited net profit of $1.8 billion for the quarter ending on June 30. In contrast to its competitors, such as Commonwealth Bank, NAB, and ANZ, Westpac does not provide cash earnings figures. It also refrained from offering any comparison to its performance in the June 2022 quarter, as no data […]

The A2 Milk Company (ASX:A2M) has announced a notable 27% rise in profit for the fiscal year 2022-23. This achievement was primarily driven by the company’s success in capturing a larger share of the contracting Chinese infant formula market. However, the company has issued a cautionary note, signaling that the coming year will likely pose

At noon, the S&P/ASX 200 is 0.16 per cent lower at 7,136.50. The SPI futures are pointing to a fall of 8 points. Australia’s stock market is down in response China’s central bank’s decision to establish the one-year loan prime rate at 3.45%, which was lower than anticipated. This rate had been at 3.55% in

Stocks closed Friday’s session with weekly losses, as Wall Street’s August struggles continue. The Dow Jones Industrial Average added 25.83 points, and was roughly 0.07 per cent higher to close at 34,500.66. The S&P 500 was lower by 0.01 per cent, finishing at 4,369.71. The Nasdaq Composite slipped 0.2 per cent, ending the session at

The most significant five days of the June 30 reporting season lie ahead this week, featuring 110 ASX 200 companies set to report their financials. The list is dominated by BHP, which will be unveiling its full-year figures tomorrow. According to Shane Oliver, the AMP’s chief economist, consensus earnings expectations for 2022-23 indicate a slight

On Friday, the People’s Bank of China (PBOC) set a significantly stronger daily fixing for the yuan, causing the currency to recover from the 9-month low it hit on Thursday. However, the yuan later weakened against the dollar to 7.3060 in offshore trading, following the PBOC’s official mid-point of 7.2006, which was more than 1,000

Iron ore prices managed to rise, while oil prices ended lower, copper saw a slight increase, gold experienced a decline, and thermal coal prices rose. The week proved to be a diverse one for critical commodities, which isn’t entirely surprising given the simultaneous rise in US bond yields, the strength of the US dollar, and

August has proven to be a challenging month for global stock markets, and the ASX is poised to continue its struggle this week. After experiencing a 2.6% decline last week, the ASX is expected to open on a negative note, with the share price index indicating a 23-point drop at the Saturday morning close (Sydney

Two months after the removal of bans on Australian coal, Chinese imports of coal from Australia surged to their highest levels in three years during July. China had imposed these bans in 2020, but they were lifted on May 18 this year. In this short span, inbound shipments have seen a remarkable increase, with China

The global events diary slows this week, but that doesn’t mean there won’t be major events to hold investor attention. Today, the Chinese government shows the world that its economy is sliding into deflationary stagnation with the second cut in the Prime Loan Rate since June. Strong economies need rate rises at times, not two