Latest news with #FTSE250Index
Sky News AU
5 days ago
- Business
- Sky News AU
ASX 200 sinks on Thursday as the index's largest tech company WiseTech dives amid board exodus
The ASX 200 dropped on Thursday and its largest tech company has sunk after more board members quit the company. WiseTech fell 1.2 per cent in the first 30 minutes of trading after two long serving non-executive directors, Charles Gibbon and Michael Gregg, exited the business. It comes amid an array of scandals and allegations involving its executive chairman Richard White and the abrupt resignation of four board members in February over 'intractable differences' about Mr White's ongoing role at the $36b company. The pair will be replaced by Sandra Hook, a former News Corp and Fairfax executive, and Rob Castaneda, a tech company founder. The ASX 200 is down 0.1 per with Evolution Mining sinking 2.9 per cent, aluminium producer Alcoa Corporation shedding 2.3 per cent and aged housing company Lifestyle Communities plunging 2.6 per cent. The fall follows the US Federal Reserve keeping the cash rate on hold as expected while the central bank assesses the impact of Trump's economic policies. "For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance," Federal Reserve Chair Jerome Powell told reporters on Wednesday. On Wall Street, the Dow Jones slumped 0.1 per cent, the S&P 500 finished flat and the Nasdaq rose 0.1 per cent. London's FTSE 250 Index added 0.3 per cent on Wednesday, Germany's DAX shed 0.5 per cent and the STOXX Europe 600 dropped 0.4 per cent. New Zealand's NZX 50 Index is down 0.1 per cent on Thursday, while Japan's Nikkei 225 has plummeted 0.7 per cent.
Sky News AU
23-05-2025
- Business
- Sky News AU
ASX 200 back in the black after uranium stocks buoyed by report Donald Trump will sign executive orders on nuclear energy
The ASX 200 is up again on Friday, heavily driven by surging uranium stocks. The index shed 0.5 per cent on Thursday in a rare loss as it continues to climb back up to its mid-February high point. It see-sawed on opening and sits up about 0.2 per cent after the first 40 minutes of trading. Uranium miners are soaring on Friday with Boss Energy up 11.5 per cent, Deep Yellow rising 8.3 per cent and Paladin Energy jumping 7.9 per cent. This follows a Reuters report that Donald Trump is expected to sign nuclear-related executive actions this week over concerns about US dependence on Russia and China for uranium and nuclear fuel. In the US, the major indexes finished the day largely unchanged with both the Dow Jones and S&P 500 flat and the Nasdaq rose 0.3 per cent. This followed a wipeout across Wall Street on Wednesday as investors were spooked by lacklustre US Treasury auction that highlighted concerns about the economic strength of the world's largest superpower. The major European indexes recorded falls on Thursday with London's FTSE 250 Index diving 0.7 per cent, Germany's DAX sinking 0.5 per cent and the EURO STOXX 50 Index shedding 0.6 per cent. Since it began trading on Friday, New Zealand's NZX 50 Index has zig-zagged and sits relatively flat from its Thursday closing price.
Sky News AU
20-05-2025
- Business
- Sky News AU
ASX 200 soars as investors encouraged by highly expected interest rate cut, rebound on US markets after Moody's downgrade
The ASX 200 has surged on Tuesday as investors are buoyed by hopes of a rate cut from the Reserve Bank of Australia and markets bouncing back up in the United States. Investors will have a close eye on the RBA's interest rate call at 2.30pm, where the central bank is highly expected to deliver the second cut this year and bring the cash rate below four per cent for the first time since 2023. The market surged 0.7 per cent in the first 20 minutes of trading with Life360 up 2.3 per cent, Capstone Copper up two per cent and BlueScope Steel rising 1.6 per cent. Investors are encouraged as money markets say there is a 99.5 per cent chance the RBA will drop the cash rate by 0.25 per cent, bringing it down half a per cent since the central bank began cutting rates after the pandemic. In the US, major indexes slumped after opening on Monday before more than recovering following Moody's downgraded the US' credit rating due to ballooning debt and deficit. The S&P 500 finished up 0.1 per cent, the Nasdaq was 0.02 per cent in the green and the Dow Jones was 0.3 per cent up on its Friday closing price. In Europe, London's FTSE 250 Index finished down less than 0.1 per cent while Germany's DAX rose 0.7 per cent and the EURO STOXX 50 Index finished flat. New Zealand's NZX 50 Index has risen 0.4 per cent since trading opened on Tuesday and Japan's Nikkei 225 is up 0.8 per cent.
Sky News AU
19-05-2025
- Business
- Sky News AU
ASX 200 falls after major ratings agency Moody's downgrades the US from Aaa to Aa1 over government debt, interest costs
The ASX 200 has fallen on Monday after a leading credit ratings agency downgraded the United States over concerns about government debt. The index's drop follows eight days of rises as it approaches its February high where it topped 8,500 points. It was down about 0.4 per cent in the first 20 minutes of trading with Bega Cheese slumping 2.3 per cent, Boss Energy falling 2.2 per cent and BHP down 1.1 per cent. Despite the slump, Life360 was up 3.2 per cent, aluminium producer Alcoa Corporation rose 3.2 per cent and Bellevue Gold has jumped 2.9 per cent. The ASX 200's slide follows Moody's downgrading the US from its AAA credit rating to AA1, as high government debt and interest costs weigh down the economic superpower. 'While we recognise the US' significant economic and financial strengths, we believe these no longer fully counterbalance the decline in fiscal metrics,' Moody's said in a statement. The move, made after trading had closed in the US on Friday, had no impact on the major indexes with the Nasdaq Composite rising 0.5 per cent, the S&P 500 up 0.7 per cent and the Dow Jones jumping 0.8 per cent. However, US futures for the three indexes are each pointing down about half a per cent. In Europe, London's FTSE 250 Index rose 0.6 per cent while Germany's DAX and the EURO STOXX 50 Index both jumped 0.3 per cent on Friday. New Zealand's NZX 50 Index is down 0.8 per cent since trading opened on Monday.
Daily Mail
29-04-2025
- Business
- Daily Mail
THG sales hurt by beauty weakness but nutrition shows recovery
THG has reported lower first-quarter turnover as weaker sales in its beauty business offset improvement in the group's nutrition unit. The e-commerce retailer, which owns the Cult Beauty and Myprotein brands, saw overall revenue feal by 8 per cent at constant currency rates to £375.6million in the three months ending March. Sales in its beauty arm declined by 9.8 per cent to £223.6million, partly because the equivalent period last year included the Easter weekend occurring in late March. THG also blamed the drop on the scaling back of sales activity in certain Asian and European markets in order to focus on attracting higher-margin customers. Weaker demand for beauty products offset nutrition-related sales rising in February and March thanks to the number of online customers increasing in the UK. THG's nutrition division saw revenue slump by 8.7 per cent to £579.8million in 2024 after the company slashed prices to try and clear old stock as part of a rebrand. As a result, the Manchester-based company's total revenue last year shrank by more than £100million to about £1.9billion, although its 'post-demerger' sales were only 0.4 per cent down at £1.7billion. THG spun off loss-making technology platform Ingenuity in January to simplify operations, revive shareholder value, and bolster its finances. Following the demerger, the group completed a debt refinancing deal up to 2029, conducted an equity raise, and entered the FTSE 250 Index. Matthew Moulding, chief executive and co-founder of THG, said: 'We are now fully focused on THG Beauty and THG Nutrition, and I'm incredibly proud of the progress each business has made.' He added: 'Both our businesses have undertaken extensive model changes over the past 24 months. 'Beauty has focused on more profitable markets and building loyalty schemes, while Myprotein has pressed ahead in undertaking a successful rebrand, underpinning rapid growth across global offline retail and licensing.' THG also revealed its adjusted earnings before nasties flatlined at £114.4million last year. Since listing on the London Stock Exchange in 2020, THG has struggled with heavy losses, slowing online trade, and corporate governance concerns. Moulding has expressed regret for taking the company public in the UK, once saying it 'just sucked from start to finish.' THG shares have plunged by around 95 per cent from their initial public offering price of 500 pence per share to 26.1p as of mid-Tuesday afternoon.
