BUSINESS

Australian Stock Market Report – Afternoon 5/9/14

Despite a 0.75 per cent slump this morning, the Australian sharemarket managed to steadily improve to only finish 0.25 per cent weaker by the close of trade. ANZ Banking Group (ANZ) was the biggest loser as the major bank traded ex-dividend. Its 3.2 per cent slump wiped out 10pts from the All Ordinaries Index. The other majors managed to improve modestly.
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Global Markets Overview – 5/9/14

Janet Yellen was again testifying to an economic committee overnight - this time in the Senate. However, unlike yesterday's Congress facing testimony, last night's meeting was a complete regurgitation, meaning the kick the US markets saw from the 'high degree of monetary accommodation remaining warranted' statement was already factored in and left markets flat and unresponsive.

Australian Stock Market Report – Afternoon 5/8/14

The ASX 200 ended comfortably higher on Thursday although in broad terms it remained in the holding pattern that has been occupied in recent weeks. More so than recent years, the looming Federal budget hangs above the market as a hurdle. The bottom line will be to assess the extent to which spending is cut and the degree to which households will be impacted by the curtailing of payments. Most controversial of all is the possibility of a deficit levy.
A worker takes radiation readings on the window of a bus at the screening point of the Tokyo Electric Power Company's (TEPCO) tsunami-crippled Fukushima Daiichi nuclear power plant in Fukushima prefecture in this June 12, 2013 file photo. Since March 2011

Overreaction and Stress, Not Cancer and Radiation, Will Kill More People than Fukushima Scare – UN Report

The radiation from the crippled Fukushima nuclear power plant that has erupted into the atmosphere and fell into the ocean waters will not trigger any increase in cancer or health problems, a report released by the UN Scientific Committee on the Effects of Atomic Radiation said. What will definitely most kill the people are their overreactions and stress over possible radiation afflictions.

Australian Stock Market Report – Morning 5/8/14

In US economic data, consumer credit rose by $17.5 billion in March to $3.14 trillion - this was the largest increase since February 2013. Revolving credit -which measures credit card usage - rebounded by $1.1 billion in March.

Australian Stock Market Report – Midday 5/7/14

The Australian sharemarket is recording its most substantial losses in close to a month, with a weak lead from the U.S. last night and worse than expected local data not helping. The All Ordinaries Index (XAO) is down 1 per cent and is flirting with the key 5400pt mark.

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