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Ratings agency Fitch on Thursday downgraded its view of Australian and New Zealand banks to “deteriorating” from “neutral”, warning of further headwinds against earnings and asset quality. Fitch said the revision has been driven by weakening economic activity and its effects on bank credit metrics in the second half of the year. The warning shouldn’t […]

At the closing bell, the S&P/ASX 200 was 0.26 per cent lower at 7,099.70. The drop was mainly driven by losses in the technology and real estate sectors. The technology sector, with Xero (ASX:XRO) tumbling by 5.3 per cent, WiseTech (ASX:WTC) falling by 3.4 per cent, and Altium (ASX:ALU) losing 4.9 per cent, was the

At noon, the S&P/ASX 200 is 0.09 per cent lower at 7,111.50, as certain sectors sensitive to interest rates declined, while commodity sectors saw gains due to rising bond yields and high inflation. The initial decline was influenced by negative international market trends following an unexpected increase in interest rates and hawkish guidance from the

Iceni Gold (ASX:ICL) has hit a high-grade vein at the Everleigh well in Western Australia. Technical Director David Nixon comments: “The high-grade rock chip results from the vein are supported by the underlying UFF+ soil anomaly, prospectivity indicators and the multiple coincident targets.” Shares are trading 53.13 per cent higher at 9.8 cents. Avita Medical

Overnight, the S&P 500 ticked down 0.38 per cent to close at 4,267.52, and the Nasdaq Composite declined 1.29 per cent to end at 13,104.89. The Dow Jones Industrial Average, the outlier among the major averages, added 91.74 points, or 0.27 per cent, closing at 33,665.02. The broad market index fluctuated near its highest closing levels

Australian economic growth slowed in the three months to March as consumers cut spending and savings (the latter to a near 15-year low) under the rising impact of the Reserve Bank’s repeated interest rate rises and continuing high inflation. Only solid investment by business and government, a rise in the terms of trade – as

The slowdown in the Chinese economy was dramatically underlined Wednesday with very weak May trade data – especially exports, the mainstay of the stuttering recovery this year. It was the first fall in monthly exports since February and confirms the sobering view that global demand is now so weak (especially in major markets like the

Among the stories doing the rounds during Wednesday’s ASX trading session were these two from Viva Energy and Estia Health. ………… Australia’s vulnerability to interruptions to supplies of petrol have again been exposed by an accident at the Viva Energy (ASX:VEA) refinery in Geelong, near Melbourne where a crane failure caused a compressor to be