UniSuper invests $500m in new ASX hedge fund
UniSuper, one of Australia's largest industry funds, has given First Sentier Investors' quant business $500 million to launch a hedge fund that invests in ASX 300 companies.
RQI Investors, which oversees around $25 billion of assets and use mathematical models and computer algorithms to make investment decision, launched the fund just before the US President Donald Trump upended financial markets on April 2.
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The Advertiser
5 hours ago
- The Advertiser
Australian stock market snaps five-week winning streak
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 18.2 points, or 0.21 per cent, to 8,505.5, as the broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5. Over the week, the top-200 stocks fell roughly 0.5 per cent. The slump came after six sessions of surging oil prices amid escalating Israel-Iran conflict and as US President Donald Trump flagged potential American military involvement within two weeks. The broader investor uncertainty then collided with heavy falls in big miners after weak economic data from China, as Rio Tinto plummeted to its lowest close since 2022, IG Markets analyst Tony Sycamore told AAP. Five of 11 local sectors sectors improved on Friday, but a whopping 4.4 per cent drop in materials stocks over the week weighed on the bourse. "The big concern for the ASX200 going into the new financial year is the elevated valuations around these banks and that no one wants to touch these big miners," Mr Sycamore said. "There's been 23 months of falling house prices in China, and that doesn't augur well for the price of iron ore or for the price of the big miners, which remain an influential part of the index." Financials slipped 0.6 per cent on Friday to finish roughly flat for a second week, a day after CBA etched its latest record high of $183.31 a share. All four big banks closed in the red, with ANZ facing the sharpest decline with a 2.5 per cent slip to $28.39. In banking news, former federal coalition finance minister Simon Birmingham was appointed the Australian Banking Association's chief executive, replacing Anna Bligh after eight years at the helm. Australian energy stocks have had a massive week, surging almost 11 per cent since Israel launched air strikes on Iran last Friday. Woodside is up 7.7 per cent over the same period, while Santos has rallied 12 per cent. Oil prices hit their highest levels since January overnight as the conflict raged on, but eased to $US75.24 a barrel after Mr Trump's two-week decision window relieved fears of an immediate US attack. The IT sector had a surprisingly good week despite broader risk-off sentiment, edging 0.3 per cent higher since Monday's open. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly near the mid-level of its recent range with the greenback. Looking ahead, while the Middle East conflict is likely to dominate headlines, it's also a massive week for macroeconomic data. Investors will be poring over local inflation figures, US economic growth, and manufacturing data for four of the world's seven largest economies. ON THE ASX: * The benchmark S&P/ASX200 index finished Friday 18.2 points lower, or down 0.21 per cent, to 8,505.5 * The broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.76 US cents, from 64.71 US cents on Thursday at 5pm * 94.13 Japanese yen, from 93.99 Japanese yen * 56.24 Euro cents, from 56.43 Euro cents * 48.09 British pence, from 48.27 pence * 108.05 NZ cents, from 108.34 NZ cents Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 18.2 points, or 0.21 per cent, to 8,505.5, as the broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5. Over the week, the top-200 stocks fell roughly 0.5 per cent. The slump came after six sessions of surging oil prices amid escalating Israel-Iran conflict and as US President Donald Trump flagged potential American military involvement within two weeks. The broader investor uncertainty then collided with heavy falls in big miners after weak economic data from China, as Rio Tinto plummeted to its lowest close since 2022, IG Markets analyst Tony Sycamore told AAP. Five of 11 local sectors sectors improved on Friday, but a whopping 4.4 per cent drop in materials stocks over the week weighed on the bourse. "The big concern for the ASX200 going into the new financial year is the elevated valuations around these banks and that no one wants to touch these big miners," Mr Sycamore said. "There's been 23 months of falling house prices in China, and that doesn't augur well for the price of iron ore or for the price of the big miners, which remain an influential part of the index." Financials slipped 0.6 per cent on Friday to finish roughly flat for a second week, a day after CBA etched its latest record high of $183.31 a share. All four big banks closed in the red, with ANZ facing the sharpest decline with a 2.5 per cent slip to $28.39. In banking news, former federal coalition finance minister Simon Birmingham was appointed the Australian Banking Association's chief executive, replacing Anna Bligh after eight years at the helm. Australian energy stocks have had a massive week, surging almost 11 per cent since Israel launched air strikes on Iran last Friday. Woodside is up 7.7 per cent over the same period, while Santos has rallied 12 per cent. Oil prices hit their highest levels since January overnight as the conflict raged on, but eased to $US75.24 a barrel after Mr Trump's two-week decision window relieved fears of an immediate US attack. The IT sector had a surprisingly good week despite broader risk-off sentiment, edging 0.3 per cent higher since Monday's open. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly near the mid-level of its recent range with the greenback. Looking ahead, while the Middle East conflict is likely to dominate headlines, it's also a massive week for macroeconomic data. Investors will be poring over local inflation figures, US economic growth, and manufacturing data for four of the world's seven largest economies. ON THE ASX: * The benchmark S&P/ASX200 index finished Friday 18.2 points lower, or down 0.21 per cent, to 8,505.5 * The broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.76 US cents, from 64.71 US cents on Thursday at 5pm * 94.13 Japanese yen, from 93.99 Japanese yen * 56.24 Euro cents, from 56.43 Euro cents * 48.09 British pence, from 48.27 pence * 108.05 NZ cents, from 108.34 NZ cents Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 18.2 points, or 0.21 per cent, to 8,505.5, as the broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5. Over the week, the top-200 stocks fell roughly 0.5 per cent. The slump came after six sessions of surging oil prices amid escalating Israel-Iran conflict and as US President Donald Trump flagged potential American military involvement within two weeks. The broader investor uncertainty then collided with heavy falls in big miners after weak economic data from China, as Rio Tinto plummeted to its lowest close since 2022, IG Markets analyst Tony Sycamore told AAP. Five of 11 local sectors sectors improved on Friday, but a whopping 4.4 per cent drop in materials stocks over the week weighed on the bourse. "The big concern for the ASX200 going into the new financial year is the elevated valuations around these banks and that no one wants to touch these big miners," Mr Sycamore said. "There's been 23 months of falling house prices in China, and that doesn't augur well for the price of iron ore or for the price of the big miners, which remain an influential part of the index." Financials slipped 0.6 per cent on Friday to finish roughly flat for a second week, a day after CBA etched its latest record high of $183.31 a share. All four big banks closed in the red, with ANZ facing the sharpest decline with a 2.5 per cent slip to $28.39. In banking news, former federal coalition finance minister Simon Birmingham was appointed the Australian Banking Association's chief executive, replacing Anna Bligh after eight years at the helm. Australian energy stocks have had a massive week, surging almost 11 per cent since Israel launched air strikes on Iran last Friday. Woodside is up 7.7 per cent over the same period, while Santos has rallied 12 per cent. Oil prices hit their highest levels since January overnight as the conflict raged on, but eased to $US75.24 a barrel after Mr Trump's two-week decision window relieved fears of an immediate US attack. The IT sector had a surprisingly good week despite broader risk-off sentiment, edging 0.3 per cent higher since Monday's open. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly near the mid-level of its recent range with the greenback. Looking ahead, while the Middle East conflict is likely to dominate headlines, it's also a massive week for macroeconomic data. Investors will be poring over local inflation figures, US economic growth, and manufacturing data for four of the world's seven largest economies. ON THE ASX: * The benchmark S&P/ASX200 index finished Friday 18.2 points lower, or down 0.21 per cent, to 8,505.5 * The broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.76 US cents, from 64.71 US cents on Thursday at 5pm * 94.13 Japanese yen, from 93.99 Japanese yen * 56.24 Euro cents, from 56.43 Euro cents * 48.09 British pence, from 48.27 pence * 108.05 NZ cents, from 108.34 NZ cents Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 18.2 points, or 0.21 per cent, to 8,505.5, as the broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5. Over the week, the top-200 stocks fell roughly 0.5 per cent. The slump came after six sessions of surging oil prices amid escalating Israel-Iran conflict and as US President Donald Trump flagged potential American military involvement within two weeks. The broader investor uncertainty then collided with heavy falls in big miners after weak economic data from China, as Rio Tinto plummeted to its lowest close since 2022, IG Markets analyst Tony Sycamore told AAP. Five of 11 local sectors sectors improved on Friday, but a whopping 4.4 per cent drop in materials stocks over the week weighed on the bourse. "The big concern for the ASX200 going into the new financial year is the elevated valuations around these banks and that no one wants to touch these big miners," Mr Sycamore said. "There's been 23 months of falling house prices in China, and that doesn't augur well for the price of iron ore or for the price of the big miners, which remain an influential part of the index." Financials slipped 0.6 per cent on Friday to finish roughly flat for a second week, a day after CBA etched its latest record high of $183.31 a share. All four big banks closed in the red, with ANZ facing the sharpest decline with a 2.5 per cent slip to $28.39. In banking news, former federal coalition finance minister Simon Birmingham was appointed the Australian Banking Association's chief executive, replacing Anna Bligh after eight years at the helm. Australian energy stocks have had a massive week, surging almost 11 per cent since Israel launched air strikes on Iran last Friday. Woodside is up 7.7 per cent over the same period, while Santos has rallied 12 per cent. Oil prices hit their highest levels since January overnight as the conflict raged on, but eased to $US75.24 a barrel after Mr Trump's two-week decision window relieved fears of an immediate US attack. The IT sector had a surprisingly good week despite broader risk-off sentiment, edging 0.3 per cent higher since Monday's open. The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly near the mid-level of its recent range with the greenback. Looking ahead, while the Middle East conflict is likely to dominate headlines, it's also a massive week for macroeconomic data. Investors will be poring over local inflation figures, US economic growth, and manufacturing data for four of the world's seven largest economies. ON THE ASX: * The benchmark S&P/ASX200 index finished Friday 18.2 points lower, or down 0.21 per cent, to 8,505.5 * The broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.76 US cents, from 64.71 US cents on Thursday at 5pm * 94.13 Japanese yen, from 93.99 Japanese yen * 56.24 Euro cents, from 56.43 Euro cents * 48.09 British pence, from 48.27 pence * 108.05 NZ cents, from 108.34 NZ cents
Perth Now
7 hours ago
- Perth Now
Banks, miners drag ASX lower
Gains in the healthcare sector were offset by falls in the big four banks and major miners, with the local market falling for its fourth consecutive trading day on Friday. The ASX 200 dropped 18.20 points or 0.21 per cent to 8,505.50 on a quiet day of trading. The broader All Ordinaries slipped 17.90 points or 0.20 per cent to 8,723.50. Australia's dollar traded down against the US dollar and is now buying 64.83 US cents. Five of the 11 sectors rose but falls in banks and mining shares dragged the market lower. NewsWire / Jeremy Piper Credit: News Corp Australia On a mixed day for investors, strong gains out of the utilities and healthcare sectors were offset by falls from the big banks and miners. CSL shares jumped 0.63 per cent to $240.21, Pro Medicus gained 1 per cent to $276.81 and ResMed added 1.40 per cent to $39.16 on a strong day for the healthcare sector. Commonwealth Bank fell from a record high close on Thursday, down 0.2 per cent to $182.53. National Australia Bank slipped 0.5 per cent to $38.91, while Westpac came off 1.1 per cent to $33.21 and ANZ dropped to 2.5 per cent to $28.39. It was a mixed day for the big miners, with BHP eking out a small gain up 0.22 per cent to $36.21, while Rio Tinto fell 1.33 per cent to $102.17 and Fortescue dropped 0.54 per cent to $14.69. Overall five of the 11 sectors closed higher despite the market falling. On a reversal of trade in recent days, the price of oil and gold fell after the White House said US President Donald Trump would decide on strikes on Iran 'within the next two weeks' alleviating fears of an immediate escalation in the Middle East crisis. The price of crude oil futures fell 2.9 per cent to $US76.50 a barrel on the news, while gold futures also dropped 1.4 per cent to $US3,362 an ounce. Healthcare shares are on the rise on an overall weak day of trading: NewsWire / Christian Gilles Credit: News Corp Australia AMP head of investment strategy and chief economist Shane Oliver said stocks remained at 'high risk' of a pullback as markets grappled with multiple economic concerns. 'Global and Australian shares have seen a strong rebound from their April lows – but they remain at high risk of a sharp near term pull back as the risk of an oil supply disruption flowing from the war with Iran is high and Trump's tariff threat is far from resolved,' he said. 'On the tariff front it is notable that the 9th July tariff deadline is rapidly approaching and no deals have been struck beyond that with the UK, with indications that some countries may end up with tariffs well above 10 per cent.' In company news, Pointsbet Holdings announced a temporary pause in trading. It comes as rival sports wagering company Betr announced a renewed takeover bid in what it is calling a superior proposal for Pointsbet compared to Japanese gaming giant Mixi. Web Travel shares are in the red down 0.44 per cent to $4.50 after announcing former Virgin Australia chief executive Paul Scurrah and JB Hi Fi director Melanie Wilson would be joining the board as independent non-executive directors.
The Advertiser
8 hours ago
- The Advertiser
Australian shares snap five-week winning streak
Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback. Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback. Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback. Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations. The S&P/ASX200 fell 20.1 points, or 0.24 per cent, to 8,503.6, as the broader All Ordinaries lost 19.6 points, or 0.22 per cent, to 8,721.8. The slump came after a week of surging oil prices amid escalating conflict between Israel and Iran and as US President Donald Trump flagged potential American military involvement within two weeks. Six of 11 local sectors sectors improved on Friday, but a 4.5 per cent slump in Australia's raw materials sector over the week weighed on the bourse, as weak manufacturing data from China dragged iron ore prices to nine-month lows. The Australian dollar is buying 64.91 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly within its recent range with the greenback.
