Global banking giant HSBC’s Australian unit says it intends to increase its corporate lending.HSBC says it will leverage its massive international balance sheet in order to capture market share from its big four Australian rivals.H
Despite rising commodity prices, the Australian central bank has been forced to hold interest rates steady, as consumer spending remains static.
The Australian market ended 0.7% higher with cyclical/risk sectors driving the gains but failed to challenge the 4600 level
Investor sentiment was boosted today by a positive lead from Wall Street, firmer commodity prices and the Reserve Bank's decision to leave interest rates on hold.
S&P/ASX200-listed Aevum Ltd. rose in Sydney trading after the Australian retirement village operator turned down an A$266-million ($242 million) unsolicited buyout proposal from its biggest shareholder, Stockland.
The Reserve Bank kept interest rates unchanged for the third consecutive month today, giving borrowers another few weeks of relief from soaring mortgage repayments. The official cash rate stays where it has been since May at 4.5 per cent.
The Reserve Bank kept interest rates unchanged for the third consecutive month today, giving borrowers another few weeks of relief from soaring mortgage repayments. The official cash rate stays where it has been since May at 4.5 per cent.
Construction firm BrisConnections Unit Trusts (ASX: BCSCA) said on Tuesday that it is expecting a full year capitalised construction and financing costs of $1.88 billion and basing on its latest report, the company is also revealed a capitalised costs of $551 million covering the first six months of 2010.
The market got off to a strong start today, but was pushed back and forth by the finance sector - some banks moving in and out of positive territory.
Another decline in dwelling approvals in June is further proof of a wavering residential building upturn, and notwithstanding a monthly increase, there has also been a significant fall in non-residential building approvals as the boost from the Government's economic stimulus fades, according to the peak body for the building and construction industry, Master Builders Australia.
Bleak retail growth of only 0.2 per cent in June is very disappointing and reflects challenging times for retail as it climbs out of the crater left by the global financial crisis, said Australian National Retailers Association (ANRA) CEO Margy Osmond.
The Australian sharemarket looks likely to gain for the second straight day this week with the S&P/ASX 200 index up 0.3pct or 14.5pts to 4556.1 whilst the broader All Ordinaries index (XAO) is gaining by 0.4pct or 17.7pts to 4572.1.
Manufacturing firm Hills Industries Ltd (ASX: HIL) reported on Tuesday that its net profit for the past 12 months leading to June 30 soared to a remarkable 322.7 percent to $40.188 million as the company’s eco products division and home hardware experienced a significant recovery in 2010.
The latest Retail Trade figures from the Australian Bureau of Statistics indicate retail sales edged up 0.2 per cent in June, seasonally adjusted, compared with an increase of 0.2 per cent the previous month.
The materials, energy and finance sectors provided much of the power behind the local market's strong move this morning.
The total number of dwellings approved slumped in June this year, and has been in the downward trend for three months in seasonally adjusted terms, according to the Australian Bureau of Statistics Building Approvals.
The total number of dwellings approved slumped in June this year, and has been in the downward trend for three months in seasonally adjusted terms, according to the Australian Bureau of Statistics Building Approvals.
Sellers of yellow cake are hoping for higher prices but overall demand remains discretionary.
Amidst circulating reports that giant oil firm Royal Dutch Shell may be eyeing Nexus Energy Ltd (ASX: NXS) as a takeover target, the energy company’s shares saw a steep climb on Tuesday.
A record $37 million lawsuit brought against Australian department store David Jones (ASX: DJS) by one of its employees is overshadowing the retailer’s launch of its spring-summer fashion collection.
A record $37 million lawsuit brought against Australian department store David Jones (ASX: DJS) by one of its employees is overshadowing the retailer’s launch of its spring-summer fashion collection.
The Virgin Blue Group of Airlines this morning sent off its first Sydney to Uluru service.
Recent interest rate hikes have influenced the purchasing decisions of almost one in two Australians with a mortgage over the past six months, based on a retail insight survey conducted by the Australian National Retailers Association (ANRA) and American Express.
US markets started August with a bang, closing the session at 10-week highs after better-than-expected manufacturing data and some strong bank earnings out of Europe.
Last night saw a string of better-than-expected numbers lift confidence and encourage investors back into the market.
The AUD has had a strong night during the offshore session, currently trading comfortably above USD0.9100 after better than expected manufacturing data was released in the US and exceptional profit reports from some of Europe's main banks saw risk appetite back on the table.
Navitas, which offers university preparation, English language training, workforce training and migrant settlement services, has reported a 31 per cent increase in annual net profit and expects strong earnings growth in financial year 2010-11.
US construction spending rose 0.1pct in June, better than forecasts centred on a decline of 0.5pct. The US ISM manufacturing index eased from 56.2 to 55.5 in July, better than forecasts centred on a reading of 54.1. Employment rose from 57.8 to 58.6.
U.S. stocks climbed Monday as encouraging data on industrial activity in the U.S. and Europe and better than expected earnings from European banks HSBC Holdings and BNP Paribas gave the market a strong start to the month of August.
The Australian Dollar continues to benefit from a weaker greenback and opens this morning buying 0.9136.