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RBA pessimism infects market: Aus shares rise 1.3% over week

07 Aug 2020 – The ASX dropped in early trade and tracked sideways for most of the afternoon despite gains on Wall Street overnight and strong prices for gold and iron ore. The Reserve Bank of Australia warns that the Australian economy will take longer to recover that previously anticipated. 4DMedical (ASX:4DX) floated today with an impressive bang. Eligibility requirements for the JobKeeper extension are being relaxed to make it easier for businesses and staff to qualify. The changes were introduced in response to the Victorian Covid 19 restrictions but will apply across the country. Citi rates Nick Scali (ASX:NCK) as a buy, upgrading its 12-month price target to $9.80.


Source: Finance News Network

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