COMMSEC MORNING REPORT
(7am AEST)US same store sales rose by 6.5pct in June - well ahead of expectations for a 4.9pct rise. Of the 23 chain stores tracked by Thomson Reuters all but four of the chains reported an increase. The ICSC expects sales to rise by 4.5-5.5pct in July.
MARKET CLOSE - CommSec Report
(4.30pm AEST)The Australian sharemarket has managed to end higher by the most modest of margins for the third time this week despite being around 0.4 pct lower at one point this morning.
National jobs figures released by the Australian Bureau of Statistics today revealed a significant rebound in the employment market, confirming the underlying strength of the Australian economy.
The Australian sharemarket is improving after a slow start to trade, following a solid employment report this morning. The All Ordinaries index (XAO) is currently flat. Almost all sectors are trading slightly lower at lunch however.
The Australian government has mellowed down its carbon tax policy that would not be too much of a burden to small and medium enterprises. Industries affected by the carbon price had been reduced to 500 from the previous 1000, the government said.
Australia's mining boom strengthened the country's trade surplus that has hit a seven-month high to A$2.33 billion ($2.5 billion), from a revised A$1.62 billion surplus in April, the Bureau of Statistics said in a report in Sydney on Tuesday.
Australia’s consumer inflation rates remained flat in June that may reduce the pressure on the central bank to increase benchmark interest rates in the near term, according to the private-sector led survey by TD Securities and the Melbourne Institute.
The manufacturing sector in Australia has begun its positive production kick in four months in spite the difficulties in coping with the high value of the Australian dollar and subdued local demand.
Investors at the Australian Stock Market is expected to rebound albeit cautiously at today's trading. Here are the views of two of the top market analysts on how the market will likely perform on 4 July, Monday.
From IG Markets Analyst Ben Potter:On Wall Street overnight, stock finished the quarter and end of the first half in bullish fashion, logging its fourth consecutive gain as Greece passed a second crucial vote on the implementation of the latest austerity package and a much stronger-than-expected Chicago PMI number.
Small business support for the Australian Government has fallen to a 15-year low, according to the Sensis Business Index released today. SMEs have become much less supportive of the Federal Government’s policies, with the indicator declining sharply during the quarter to be the lowest level since February 1996.
Australia still needs to spur its campaign to urge citizens to prepare for retirement, a new research done by Roy Morgan said in order to achieve a 90 percent average confirming plans for the said years.
At lunch the Australian share market is having a much better day, with the All Ordinaries index (XAO) around 0.4 pct or 19.7 pts higher to 4533.5. Close to all sectors are higher, with gains from the banks and miners helping to keep the market in positive territory.
The Australian stock market is seen receiving a little shove from the negative leads over volatile overnight sessions in the US and European stock markets. The ASX is seen performing modestly on Friday.
Australian men are overweight, have a higher risk of cancer, prone to illicit drug use, injury, and smoking and have a shorter life expectancy that women but don't expect them to see a doctor about it, at least according to a recent study by the Australian Institute of Health and Welfare.
The Australian Competition and Consumer Commission commenced legal action against the company for unconscionable conduct, after failing to inform customers that the business is insolvent and under administration. The ACCC wants the federal court to stop the Sydney-based firm from continuing its business.
Researchers have developed a technique that can warn patients if they will suffer from Alzheimer's at least ten years before the symptoms manifest.
Australians may be swimming in debt but that doesn't mean they're worried about it. A recent survey from insurance provider Genworth found that although most Australian home owners are among the most indebted in the world they have no problems borrowing more than their means.
As the Australian share market went down for a sixth consecutive trading day, investors went to the New Zealand markets, which rose close to 20 points to 3525.39, a change of about 56 percent.
Australia's stock market has opened at a modest pace taking on from overnight leads as Wall Street gave up mid-session gains as Federal Reserve chairman Ben Bernanke hinted that further stimulus is required to boost the US economy.
Weak trading sessions in the US and European markets will likely rebound in local trading on Tuesday. Investors at the Australian Stock market would likely be on the sidelines as there would be some reluctance ahead of the RBA interest rate pronouncement at 2:30PM AEST.
As world markets ended up disappointingly with a tepid performance on Friday, analysts expect some negativity spreading, but the good market support for the Australian share markets will hopefully hold it up at today's trading day.
Markets in the Asia-Pacific region have remained quiet at the end of Monday's trading as public holidays in China, Hong Kong, and South Korea have kept only Tokyo's Nikkei and Australia's S&P 500 working until the afternoon.
Australia has generated fewer jobs in May, according to a survey made by the ANZ Bank, which was reflected in lower job placements posted online or on newspapers.
Australia's employers led by an industry group and the retailers association have warned of the possible consequences of the minimum wage increase approved by authorities.
Expect a lacklustre trading today at the Australian stock market because of negative to mixed leads derived from offshore trading overnight.
Leading manufacturer British American Tobacco Australia (BATA) on Tuesday launched a national media campaign against the Federal Government's proposed plan to impose plain packaging on cigarettes that could harm marketing and sales.
The Australian dollar jumped and recovered its four-day loss as an impact of the Reserve Bank's hint that benchmark rates may soon rise up at some point.
Australia's Reserve Bank has hinted that higher interest rates maybe inevitable to contain the jump in consumer prices, authorities said.
Australian Prime Minister Julia Gillard is walking on tight rope as she pursue both trade and diplomacy issues in China as she meets her counterparts Prime Minister Wen Jiabiao and President Hu Jintao today.
