The black boxes or flight recorders of downed Malaysia Airlines MH17, an essential electronic recording device placed in an aircraft that would greatly facilitate investigations in the event of an aviation accident or incident, are finally in the hands of Malaysian authorities.
Global macro concerns outweighed further bottom-up strength from US earnings overnight, as the Gaza-Israel conflict raged on and the squeeze on Russia politically saw its index take a further pounding.
European shares eased on Monday with investors concerned about ongoing tensions between Russia and western nations. Fresh violence has flared up in Donetsk in eastern Ukraine. The FTSEurofirst 300 index fell by 0.5% with the German Dax down by 1.1% while the UK FTSE lost 0.3%. Australia´s major miners were mixed in London trade with shares in BHP Billiton up by 0.1% while Rio Tinto lost 0.2%.
Almost $1.5 million would be deducted from Malaysian Airlines shaky finances as the embattled air carrier announced on Monday that it would grant $5,000 assistance to each of the families of the 298 victims of MH 17
The Australia stock market finished the day higher as the ASX 200 added 8 points, while the broader All Ordinaries index was up 9.2 points. The volume was very light today and the public holiday in Japan also impacted international trading volumes.
On Friday night the fear and volatility index (the VIX) fell 17% from its highs on Thursday as the concern over Geopolitical risk started to reduce around the downed Malaysian Airlines flight 17 and the news Israel had sent ground troops into Gaza. On Friday US markets rebounded and finished higher the Dow Jones up 123 points and the NASDAQ up 69 points.
At least 18 people have died after typhoon Rammasun struck Hainan island off China's southern coast on Friday.
Russian President Vladimir Putin's world seems to be getting smaller as global leaders gang up on him to owe up to the tragedy that befell Malaysia Airlines flight MH17. Either that, or Russia may end up losing contact with its G20 comrades as well as possibly having its assets frozen in London.
As if their sudden death wasn't bad enough, the bodies of passengers aboard doomed Malaysia Airlines flight MH17 were stolen by pro-Russian rebels to be brought to an undisclosed location. And if that wasn't ruthless enough, rebels have also been reportedly stealing possessions from the dead. It was more than a double whammy the bereaved families of the victims can take from the senseless killing.
US corporate earnings saw the US market finishing the week in the green and this trend looks to be continuing as several majors saw substantial improvement in the actuals.
In US economic data the leading index rose by 0.3% in June, short of the 0.5% forecast gain. The consumer sentiment index eased from 82.5 to 81.3 in July, short of the 83.0 forecast result.
The two houses of Australia's Parliament have passed on Friday legislation that would ease foreign ownership restrictions on flag carrier Qantas. However, the airline would still remain 51 per cent or majority owned by Australia.
After a trying and emotional night in the US on the back of the crash of Malaysia Airlines flight MH17 and escalated international tensions in the Middle East, Malaysia Airlines is currently down 11% as investors come to grips with the news. Malaysia Airlines is majority owned by the Malaysian government holding company Khazanah Nasional Bhd. who told the market in the early session that MH17 B777-200 had a ´clean maintenance record´. Concerns about the ramifications of the incident sent the VIX...
Could the disaster that fell upon Malaysia Airlines flight MH17 trigger a major global war after dozens of innocent lives, who definitely had nothing to do with the tensions ongoing between Ukraine and Russia, were lost?
Even before Malaysian Airlines Flight 370 disappeared mysteriously on March 8, 2014, the embattled air carrier was already struggling financially. The incident worsened the airline's financial standing as passengers, scared by what happened, cancelled bookings, while the company had to shoulder a lot of extra expenses related to the search and tending to the needs of the relatives of the 239 people aboard the ill-fated plane.
Despite being sold off this morning for the first time since Wednesday last week, local shares have crept into positive territory. The crash of yet another Malaysian passenger plane has kept global markets on edge, pushing the price of gold and oil higher, while the All Ordinaries Index (XAO) is up by 0.1 per cent.
Line App - a leading messaging app filed for an Initial Public Offering two weeks ago in Tokyo Stock Exchange and valued at $9.85 billion.
A list of what could be the first batch of identities of people who perished aboard the downed Malaysia Airlines MH17 had started to emerge.
The terrorist act that led to the downing and crash of Malaysia Airlines Flight MH17 has been attributed to a group of Russian separatists, based on a recording of intercepted communications released by Ukraine.
The horrible news that 295 passengers on a Malaysian Airlines flight have been killed over the Ukrainian/Russian border is a sharp reminder that current geopolitical tensions in that region are at knife point and this will be a flash point to tip it over.
The Philadelphia Fed´s manufacturing index rose from +17.8 to +23.9 in July, well ahead of forecasts (+16.0). The index has been particularly strong in the past four months. Across the subindices new orders, shipments, employment all recorded healthy gains. US jobless claims fell by 3,000 to a seasonally adjusted 302,000 last week.
The Sydney Federal Court approved on Thursday the $2.2 billion sale of Australian department store David Jones to Woolworths Holdings of South Africa. The go signal came after shareholders of the second-largest department store in the country approved the sale on Monday.
A computer glitch hit Australian grocery giant Woolworths on Thursday afternoon, causing scanners to charge as free items with price tags below $10.
Disaster struck again Malaysia Airlines. Four months after Flight MH370 first went mysteriously missing on March 8, another Malaysia Airlines plane, flight MH17, went into peril. Global reports surmise the airliner was a victim of tensions between Ukraine and Russia, purposely shot down and killing all 295 onboard.
Typhoon Rammasun, now on its way to strike southern China and northern Vietnam, forced over 400,000 people in the Philippines to evacuate and seek higher and safer grounds on Tuesday till Wednesday.
A nice start for the Australian market, at the open of trade the ASX 200 hit a 6 year high of 5559.4 points the highest level since June the 10th 2008. Today the early volumes on the market were also solid and by lunch time the All Ordinaries Index was at 5,528.9 points.
Cleveland Clinic has secured the number one position in hospitals for cardiology and heart surgery for the twentieth time in a row.
According to a report by CNN, Disney theme park employees were arrested for alleged kiddie-sex crimes.
US markets have provided some backbone for the Asian session today, with our opening call currently at 5531 (+0.2%).
The US Federal Reserve chair, Janet Yellen, has expressed optimism on the economy: ´´I am optimistic about the economy and that´s reflected in the forecasts that are included in the monetary policy report.´´ Further, she noted: ´´...I do think the economy is recovering and that growth is picking up and that we have sufficient growth to support continued improvement in the labour market.´´
