Finance News

Market closes on a 4-week high: ASX closed 3.5% higher

09 Apr 2020 - The ASX saw a rally in late afternoon trade closing on a 4 week high at 3.5% higher. Perenti Global (ASX:PRN) shares advanced over 27% and shares in Commonwealth Bank (ASX:CBA) rose. Real Estate Investment Trust closed the week leading the sectors and consumer staples came in the lowest. Orocobre (ASX:ORE) says the Argentine Ministry of Production has declared lithium mines Olaroz and Borax ‘essential activities’ and has restarted production.

All the sectors in the green: ASX tracking almost 2% higher at noon

09 Apr 2020 - The ASX shot up at the open and is now tracking almost 2% higher at noon. Shares in oOh!media (ASX:OML) are on the up after HT&E has acquired at least 11 million shares in the company representing at least 1.8% of the Company’s issued capital. Viva Energy (ASX:VEA) says their Retail segment has continued to perform well with the Alliance network achieving average sales volumes of 62.4 million litres per week in 1Q2020.

Wall Street rally continues: ASX poised to open higher

09 Apr 2020 - The ASX looks set to open higher this morning. US stocks are having a rollercoaster of a week. The 76 day lockdown in the Chinese city of Wuhan where coronavirus first emerged has now ended and people can travel to other parts of China. Meanwhile, oil jumped up ahead of an OPEC meeting that is viewed to lead to production cuts. Auckland International Airport (ASX:AIA) announced today the opening of its NZ$200 million non-underwritten share [...]

S&P lowers Australia AAA credit rating to negative: ASX closed 0.9% lower

08 Apr 2020 - The ASX dropped at the open and struggled to gain momentum closing 0.9% lower. Shares in Oil Search (ASX:OSH) have declined after they reported raising $1.1 billion to ride out global price turmoil. Next Science’s (ASX:NXS) Hospital Cleaner Surface Disinfectant has been accepted for registration for inclusion on the product labelling of a Claim for effectiveness against biofilm.

Fitch downgrades the Big Four banks: ASX tracking 0.3% lower at noon

08 Apr 2020 - The ASX dropped at the open and is struggling to gain momentum but managed to scrape back to be now tracking 0.3% lower at noon. The economic crisis from COVID-19 has prompted Fitch Ratings to downgrade the credit rating for the big four. Treasury Wine Estates (ASX:TWE) announced today its intention to consider a demerger of the Penfolds business and associated assets into a separate company.