Latest news with #JeremyPiper
Perth Now
4 days ago
- Business
- 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.
Perth Now
4 days ago
- Business
- Perth Now
CBA soars, BHP falls in mixed day on ASX
Commonwealth Bank closed at a record high on Thursday, but it was not enough to lift the broader market as weaker than expected job figures and fears of the possibility the US would strike Iran weighed on the local market. The ASX 200 closed marginally lower for the third straight day down 7.50 points or 0.09 per cent to 8,523.70. The broader All Ordinaries also finished down on Thursday, dropping 16.50 points or 0.19 per cent to 8,741.40. Australia's dollar slumped 0.66 per cent against the US dollar and is now buying 64.64 US cents. On a mixed day of trading the ASX fell despite the banking sector soaring NewsWire / Jeremy Piper Credit: News Corp Australia Seven of the 11 sectors were lower with large falls in materials, information technology and utilities offsetting strong gains out of the financials and consumer discretionary sectors. Shares in Australia's largest lender CBA soared during early trading as high as $183.23 before settling at $182.85. This beat the previous record close of $182. NAB shares also finished heavily in the green up 1.06 per cent to $39.12, Westpac soared 1.73 per cent to $33.59 and ANZ jumped 0.31 per cent to $29.13. Offsetting a bounce in the financials were falls in the materials sector. BHP slumped 1.98 per cent to $36.13, Rio Tinto sank 2.31 per cent to $103.55 and Fortescue decreased 1.73 per cent to $14.77. Gold miners also slipped after a strong run with Northern Star Resources falling 0.97 per cent to $20.38 and Evolution Mining plunged 4.54 per cent to $7.78. The market seesawed throughout Thursday's trading and was up slightly before the announcement of Australia's job figures. The market slipped on unexpected job figures. NewsWire / Damian Shaw Credit: News Corp Australia In a surprise to the market, 2500 fewer Australians were employed in May compared to April. Betashare chief economist David Bassanese said Thursday's employment data was no smoking gun for a rate cut. 'My base case remains that the RBA will hold fire on rates until the release of the June quarter CPI in late July,' he said. 'If the result confirms a continued decline in trimmed mean inflation to 2.6 per cent in line with RBA expectations, the RBA will likely cut policy rate by 0.25 per cent in August – so households may just need to wait another few weeks for further mortgage relief.' The market also traded lower on fears as to whether the US would strike Iran, a move that Tehran warns would lead to retaliation on US interests in the area. 'I may do it, I may not do it,' US President Donald Trump told reporters outside the White House. 'I mean, nobody knows what I'm going to do.' In company news fashion retailer KMD Brands which owns Kathmandu and Rip Curl fell 3.77 per cent to $0.26 after telling the market warmer autumn weather had a negative impact on sales. WiseTech Global shares also fell 1.87 per cent to $106.89 on the back of news directors Charles Gibbon and Michael Gregg would leave the board.
Perth Now
13-06-2025
- Business
- Perth Now
ASX slips on geopolitical tensions
The Australian sharemarket fell slightly during Friday's trading as fears of the fallout between Israel and Iran resulted in a broad sell-off on the market and investors rush to safe havens including gold. The benchmark ASX200 index closed down 17.70 points or 0.21 per cent to finish the week at 8,547.40. The broader All Ordinaries also traded lower falling 25.40 points or 0.29 per cent to 8,770.60. The Australian dollar slipped 0.85 per cent and is now buying 64.72 US cents. On a day dominated by geopolitical tensions, the market had a spike in volatility with strong gains in the energy, utilities and gold miners offset by falls in information technology, healthcare and consumer discretionary stocks. The ASX fell on Iran-Israel tensions. NewsWire / Jeremy Piper Credit: News Corp Australia Overall, just three of the 11 sectors gained during Friday's trading. One of the bright spots was the energy sector as the price of crude oil jumped to nearly $US75 a barrel on the back of political tensions between Israel and Iran which helped drive Australia's energy stocks higher. Israel has said the pre‑emptive attacks were aimed at eliminating Iran's nuclear program and ballistic missile capabilities, but the fears in the market are based on what Iran will do as a retaliation to these strikes. If it hits neighbouring oilfields or blocks the Strait of Hormuz, which controls 20 per cent of the world's oil consumption, the price of the commodity could skyrocket. Woodside Energy shares soared 7.4 per cent to $25.21, Santos traded higher gaining 3.73 per cent to $6.96 and Beach Energy gained 2.77 per cent to $1.30. There was also a flight to safety, with the price of gold jumping back to $US3,400 an ounce. This helped drive Northern Star up 5.1 per cent to $22.53 as well as Evolution Mining, which rose 5.5 per cent to $9.20. It was also a mixed day for the major banks. Commonwealth Bank slipped 0.65 per cent to $179.35, NAB fell 0.31 per cent to $38.87 and ANZ dropped 0.54 per cent to $29.63. Westpac was the outlier eking out a tiny gain of 0.03 per cent to $33.36. Just three of the 11 sectors gained during Friday's trading. NewsWire / Max Mason-Hubers Credit: News Corp Australia Despite the strong moves on the market, AMP chief economist Shane Oliver urged a sense of caution. 'Just bear in mind that tensions regularly flare up in the Middle East, escalate for a while and then settle back down again so there is a danger in getting too negative on it and the key for investors is to look for the opportunities that the latest conflict may throw up,' he wrote in an economic note. Even with the falls, Dr Oliver said the Australia market still finished in the green. 'Despite falling on Friday after Israel's attack, Australian shares bucked the global trend and are on track for a gain of around 0.3 per cent for the week after having hit a record high midweek with the gains led by energy, utility property and consumer stocks,' he said. In corporate news, shares in Cettire continued its falls, dropping another 20.3 per cent to $0.26 a share, after slumping 31 per cent during Thursday's trading. The fall in the online luxury retailer comes after it issued a second profit downgrade in the last few months. Accent group also had a day to forget, with shares dropping 21 per cent to a year low of $1.43 after annoying a disappointing post Christmas trading period. The Platypus and HypeDC owner said sales for the 23 weeks until June 8 are down 1 per cent and is now expecting an EBIT of between $108m to $11m for the financial year.
The Australian
11-06-2025
- Business
- The Australian
Powerball jackpot soars to $100m
A staggering $100m jackpot will be up for grabs next week after no claims were made for the Powerball division one prize in Thursday night's draw. This is the first time the top prize has reached this amount since November 2024, and the 12th time Powerball has offered a $100m jackpot in the game's 29-year history. Powerball has jackpotted to $100m. Picture: NewsWire / Jeremy Piper This year alone, eight Powerball division one winners have taken home more than $210.8m – three in Queensland, two each in NSW and Victoria, and one in Western Australia. Last year, a man from South Australia claimed a whopping $150m, the game's biggest individual lottery win in Australia. It will be the 29th time in the game's history that that amount has been offered. Picture: NewsWire / Nikki Short While there were no division one winners on Thursday night, six lucky Aussies took home $127,979 each in the division two prize pool. The winning numbers were 1, 30, 12, 34, 24, 9, 6 and the Powerball 10. Tickets for the upcoming Powerball are available for purchase until 6pm next Thursday in-store, online or via the Lotto mobile app.
Perth Now
06-06-2025
- Business
- Perth Now
Powerball jackpots to insane amount
A staggering $100m jackpot will be up for grabs next week after no claims were made for the Powerball division one prize in Thursday night's draw. This is the first time the top prize has reached this amount since November 2024, and the 12th time Powerball has offered a $100m jackpot in the game's 29-year history. Powerball has jackpotted to $100m. NewsWire / Jeremy Piper Credit: News Corp Australia This year alone, eight Powerball division one winners have taken home more than $210.8m – three in Queensland, two each in NSW and Victoria, and one in Western Australia. Last year, a man from South Australia claimed a whopping $150m, the game's biggest individual lottery win in Australia. It will be the 29th time in the game's history that that amount has been offered. NewsWire / Nikki Short Credit: News Corp Australia While there were no division one winners on Thursday night, six lucky Aussies took home $127,979 each in the division two prize pool. The winning numbers were 1, 30, 12, 34, 24, 9, 6 and the Powerball 10. Tickets for the upcoming Powerball are available for purchase until 6pm next Thursday in-store, online or via the Lotto mobile app.
