ASX 200 ‘bounces around' on Monday amid Trump's ongoing tariff war
Sky News Business Reporter Edward Boyd says the local market dropped at the open today and then bounced around throughout the afternoon.
'Most sectors were in the red, led by energy stocks and utilities. Telcos and industrials lifted,' Mr Boyd said.
The ASX 200 finished the day down 0.24 per cent on Monday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Australian
2 hours ago
- The Australian
Telstra wins film prize but Aussie work lags globally
Telstra has been recognised among some of the world's best brands after its advertising campaigns scooped top awards at the Cannes Lions International Festival of Creativity. Three recent campaigns from the telecommunications giant were recognised at the annual advertising awards festival, alongside global work for Apple, AXA, Budweiser, Dove and Vaseline. The telco's Better on a Better Network campaign, which consisted of 26 stop-motion films, each just 15 seconds long, dominated the Film awards category winning a Grand Prix for film craft in addition to two golds and one bronze Lion. Telstra's Christmas and business campaigns also picked up four more Lions, all in the film category. The plaudits extended to the creative companies behind the work, with Telstra's creative agency Bear Meets Eagle On Fire recognised as one of the top three independent agencies in the world, while production company Revolver won the Palme d'Or for film making, the first Australian production company to ever receive the award. Telstra was the most highly-awarded Australian brand at this year's awards, an accolade that left Telstra chief marketing officer Brent Smart 'speechless'. Mr Smart had previously told The Australian that the brand's recent advertising activity aimed to get audiences to rethink Telstra. 'We've been working hard to give the brand more personality, to make the brand more humble, more personable and more likeable,' he told The Australian last year. 'A lot of people judge Telstra based on the brand it used to be, not the brand it is today. I believe, if you want to change how people feel about the brand, you need to change how the brand feels,' he said. Telstra wasn't the only brand to win over the international judging panels, other local campaigns that picked up awards included Suncorp's Building a More Resilient Australia campaign by Leo Australia, Volkswagen RooBadge by DDB Australia, Coca-Cola's Meet me at the Coke Sign by Ogilvy Australia, Australian Lamb for Droga5 ANZ and the 36 Months campaign by independent agency SuperMassive, which lobbied the Australian Government to raise the minimum age for social media from 13 to 16. In addition to awarding the best work from the past 12 months, the annual festival also provides a glimpse into the themes and trends that will dominate the year ahead with some well-needed laughs likely to be hitting our screens through the next wave of advertising and marketing. 'Humour is back,' according to Suncorp EGM of Brand & Customer Experience Mim Haysom, who was a judge in the creative data award category. 'There were a large number of entries using humour this year, and using it effectively to cut through and create an emotional connection with audiences,' she said. 'Perhaps a counter play to the serious issues we are all feeling globally, the significant presence of humour, being used to tackle both business and social challenges was a delight to have in the mix.' Ms Haysom also said that while AI was a strong presence throughout the festival, featuring in 70 per cent of award case studies in the creative data category, its role and purpose was interrogated by the judges. 'We asked ourselves in the judging room, did AI serve as a genuine enabler for innovation and impact, or was it simply there for show? If you could remove the AI and the idea didn't stand on its own, it didn't make the cut,' she said. In response to the pervasiveness of AI and technology, there was a strong push for work that showcased the best, and worst, of humanity, according to Revolver executive producer and partner Pip Smart, a judge in the film craft category. 'The jury room for film craft instinctively steered away this year from anything that felt too slick, post produced or AI driven,' Ms Smart said. 'As a group we were drawn to work that showed humanity – anything hand crafted, and where emotional or humorous elements stood out. Originality was key.' She said work that was surprising, quirky and original caught the judges attention. However, there was also a big push to go beyond the creative aesthetics and reward the work that works, which impacted another significant theme to dominate the festival, as judges looked to award work that delivered results for businesses. Clerehan founder Esther Clerehan said for the Glass Lions category, which recognises work that creates change, the jury focus was firmly on the outcomes of the activity. 'The bottom line for the jury came down to impact. Brand alignment was also a recurring part of discussions but always the emphasis was on the impact of the work. Some work scored really well on creativity, but when the most weight is applied to the results, a clever idea can flounder if its case relies heavily on impressions and awareness,' said Ms Clerehan. Ms Haysom agreed. 'Impact was a non-negotiable for our jury, and most of the cases reviewed had incredible impact for business, customers, or in the case of those who were recognised with Lions, they had impact on both business and customers with strong outcomes against tangible metrics.' Impact was also a crucial theme for the creative strategy category jury, which included VML chief strategy officer Alison Tilling. She said the debut of the long-term brand platform award, while challenging to judge, provided a showcase of 'the greatest hits of advertising' with Dove's Real Beauty campaign scooping the Grand Prix. '(Dove) has written the playbook for consistently fresh work off a single platform over the past 20 years,' Ms Tilling said. 'What does it say when a 20-year-old strategy wins? I think it should scream loud and clear that when you have a strong positioning or theme you play to it clearly but with a strong sense of what's happening in culture at that moment.' Read related topics: Telstra
News.com.au
4 hours ago
- News.com.au
NSW government to launch new authority fast-tracking big business projects
The NSW government is launching a new authority to fast-track major projects and an $80m funding package, as the state gears up for a new wave of investment and innovation. The government will invest $17.7m to establish the Investment Delivery Authority - modelled on the Housing Delivery Authority - to accelerate approvals for major projects and attract investment across sectors such as technology and energy. Businesses have raised concerns about lengthy and complex approval processes, which the government says has hampered productivity and discouraged investment. The new authority is expected to assist around 30 large-scale projects annually and help unlock up to $50bn in investment each year. Premier Chris Minns said major projects from the private sector were 'getting bogged down in red tape', making it harder to do business in NSW. 'Our state is open for business and this change will encourage more people to bring their best ideas to life in NSW, all backed by our government,' Mr Minns said. Treasurer Daniel Mookhey said the authority would streamline processes and clear bottlenecks. 'We have listened to what we are being told, loud and clear: everything in NSW is awesome, except for how long it takes to get major projects done,' Mr Mookhey said. 'We are creating a way to address the blockages, speed up the process and ensure NSW is properly open for business.' The Investment Delivery Authority will accept expressions of interest from domestic and international investment projects valued at more than $1bn. It will be supported by an investment taskforce within Investment NSW under the premier's department. Its leadership team will include senior public servants from the premier's department, treasury, planning, housing and infrastructure, and Infrastructure NSW. The authority will make recommendations to the treasurer, the planning minister and the minister for industry and trade. Planning Minister Paul Scully said the reforms were a key step toward lifting productivity. 'The Investment Delivery Authority, supported by the Investment Taskforce, will identify and clear barriers that businesses may face, while advising on reforms that promote investment, competition and productivity in NSW,' Mr Scully said. In tandem with the new authority, the government is investing nearly $80m in a wide-ranging innovation funding package to support startups, scale-ups and emerging technologies under the newly launched Innovation Blueprint. 'NSW is not just open for business, it's serious about being a global leader in innovation, industry, and investment,' Mr Minns said. The largest slice of the funding is $38.5m to support Tech Central, followed by $20m for commercialising emerging technologies, particularly in housing and energy. The remaining funding has been split across several areas, including $6m to help manufacturers adopt innovative technologies and $4m each for housing construction innovation and supporting female and regional tech founders. Industry and Trade Minister Anoulack Chanthivong said the investment would help nurture the next generation of tech giants. 'With this nearly $80 million of funding, we will ensure we nurture, grow, and support the next Afterpay, Atlassian, and Canva from the early stages through to the most vulnerable periods of a startup's life cycle,' Mr Chanthivong said. Kate Pounder, former Tech Council of Australia Chair, welcomed the commitment to diversity and regional inclusion. 'This significant investment in innovation will cement NSW as a world leader in the tech sector,' Ms Pounder said. 'Most hearteningly, this money will also go where it is needed most, to female founders, and those from diverse cultures and backgrounds, as well as our budding tech giants living and working in Western Sydney and regional NSW.' Business NSW CEO Daniel Hunter described the changes as 'game-changing'. 'With a clear plan to streamline approvals and coordinate government agencies, the new Investment Delivery Authority is exactly what NSW needs to turn ambition into action,' he said.
News.com.au
9 hours ago
- News.com.au
US share exodus: Aussies sell their US stocks on Trump fears
Australian retail investors are ditching the United States and moving their money to 'stable' economies on the back of US President Donald Trump's 'Liberation Day.' New retail data from investing platform eToro, who asked 10,000 retail investors across 14 countries, including 1,000 from Australia showed a sharp trend away from America. According to eToro's data the downturn in enthusiasm for US markets reflects broader economic uncertainty, with 37 per cent of Aussie investors citing the global economy as the biggest threat to their investments – the highest figure recorded since Q2 2022. Inflation follows as the second biggest concern at 17 per cent. Instead of investing abroad, local investors are increasing their exposure to Australian markets. eToro managing director Robert Francis told NewsWire a combination of US policies and high valuations have retail investors sceptical of investing in the world's largest market going forward. 'People are beginning to realise the US exceptionalism isn't what it was a year or two ago with the inauguration of Trump has meant a lot of uncertainty,' he said. Rayeiris Maduro Rondon, an investor based in Sydney after relocating from Venezuela told NewsWire it is her opinion that the days of the US exceptionalism has 'paused' as she shifts to Europe and China. 'I view this more as a period of recalibration rather than decline,' she said. 'Historically, when markets trade at elevated valuations for extended periods, investors begin to see high multiples as 'the normality' and price in unrealistic growth expectations. 'That's where the U.S. stands today.' While she still holds some US investments on a 'reasonable valuation,' she said there are better opportunities abroad. 'In Europe and Asia, I'm finding businesses with higher returns on capital and strong cash flows trading at deeply discounted valuations, making them far more attractive from a risk-adjusted perspective,' she said. Alert not alarmed Australian investors are split on what the current market volatility means for them. eToro's survey data showed 35 per cent of Aussies are more vigilant about their portfolio while a further 28 per cent are feeling anxious. On the flipside, 24 per cent are actually hopeful or excited about the large market swings. This optimism extends to investing strategies, with over a quarter of Aussie retail investors seeing a decline of 10 per cent or less as an opportunity to buy the dip. eToro's market analyst Josh Gilbert said investors are alert but not all of them are alarmed. 'Many see recent market dips as buying opportunities, which signals a level of confidence in long-term market resilience, he said. 'The risk of being out of the market altogether is something savvy investors are acutely aware of. 'The recent rebound in global equities since April has reinforced that view, even in uncertain times.' It has been a volatile ride for investors since Mr Trump took office for global markets initially rallying before hitting a bear market on April 2, with the announcement of Liberation Day. The wide-ranging tariffs were touted as Liberation Day for the US, with Mr Trump arguing it would level out the playing field. In a list of countries, Australia was 21st with a 10 per cent tariff on all goods imported into the US. The ASX slumped 11.4 per cent in the five days following 'Liberation Day', while the US S & P 500 fell around 12 per cent while the Dow Jones dropped 11 per cent. In both the Australia and the US shares quickly recovered after Mr Trump announced a temporary pause on his tariff policies. Mr Francis said this was a dramatic turnaround in investor confidence with the market initially rallying when Mr Trump returned to office. 'The whole market was buoyant with Trump's inauguration,' he said. 'I mean, we all thought investors, market commentators, all thought that we were going to see a continued bullish trend in the market. 'But given what we're seeing now around trade conflicts, tariffs that are being implemented, this is kind of, where is this going to go? 'All of this means that there's a level of uncertainty right now that doesn't bring confidence in investing in the US'. Some still move to safe assets Commodities have also been a favourite of Australian investors as they look to protect their positions. According to eToro's results, fears mount over a weaker US dollar and persistent inflation, Aussie retail investors are repositioning their portfolios, with nearly half of respondents having adjusted allocations or planning to. Mr Gilbert said 60 per cent of respondents said they expect gold prices to increase in the next 6–12 months, which reinforces its traditional role as an inflation hedge. 'Interestingly, we've seen Bitcoin's growing status among younger investors as a similar hedge. 'Out of local retail investors who are adjusting their portfolios based on a weaker USD, 27 per cent of Gen Z respondents said they will buy more crypto, the highest out of all generations. Indeed, 52 per cent of local Gen Z investors already hold crypto.'
