Consumer confidence has climbed for a second week running as Australia’s coronavirus curve eases, though economists expects weak jobs data and poor business indicators to take an increasing toll. The weekly ANZ-Roy Morgan Australian Consumer Confidence survey rose close to 9.0 per cent as improved coronavirus indicators and government stimulus […]
Day: April 14, 2020
Bubs’ record quarter amid Chinese demand
Australian baby formula producer Bubs has reported its highest quarterly gross revenue thanks to booming demand in China for infant formula. Bubs’ $19.7 million revenue for the quarter ended March 31 was helped by sales in China more than doubling on the same period last year. Chief executive Kristy Carr […]
Gold rallies to more than seven-year peak
Gold soared nearly 2.0 per cent to hit its highest since late 2012, with investors rushing to the safety of bullion as the coronavirus ravaged economies worldwide and triggered the rollout of huge stimulus plans. Spot gold gained 1.3 per cent to $US1,735.85 per ounce, having earlier jumped as much […]
Copper propelled to four-week high
Copper prices have hit a four-week high, boosted by coronavirus-linked supply disruptions and expectations of stronger demand, although gains were capped by caution over the pace of an economic recovery. Benchmark copper on the London Metal Exchange was up 2.9 per cent at $US5,163 a tonne at. Prices of the […]
ASX tipped to edge higher on Wall St rise
The Australian share market is tipped to edge higher after a strong overnight session on Wall Street, where investors were buoyed by signs coronavirus lockdown measures could begin to ease. The SPI200 futures contract was up 10 points, or 0.18 per cent, to 5,500.0 points at 0700 AEST on Wednesday, […]
Wall St up 2{4c4eada76ecf1be575223a4ba5c40f01738ab49b07447a5a057265ba4edb475a} on hopes of lockdown easing
Wall Street has risen more than 2.0 per cent on signs some economies would ease strict coronavirus-induced lockdowns, with investors also looking at quarterly earnings from JPMorgan and Johnson & Johnson for clues on the business hit from the outbreak. Early gains were broad based with a 4.3 per cent […]
Johnson & Johnson slashes outlook
Johnson & Johnson, anticipating significant impact from the COVID-19 pandemic, has slashed its 2020 sales forecast by billions of dollars and also cut its profit expectations. It’s one of the first major US corporations to report first-quarter earnings and likely a harbinger of things to come as the outbreak disrupts […]
JPMorgan 1Q profit plunges due to virus
JPMorgan Chase says that first-quarter profit plunged by 69 per cent from a year ago, as the bank set aside billions of dollars to cover potential losses tied to the coronavirus pandemic. Chase, the nation’s largest bank by assets, is among the first of the nation’s big companies to report […]
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InvoCare to defer payout, raise $200m
Funerals provider InvoCare is deferring its dividend and will ask investors to pitch in $200 million as a revenue decline accelerates due to coronavirus restrictions on memorial services. InvoCare on Tuesday announced it will offer 14.4 million new shares at $10.40 – a 7.8 per cent discount to the last […]