Construction declines further in May

Construction declines further in May

Construction activity retreated further in May following COVID-19 social restrictions and related declines in spending and investment. The Ai Group and Housing Industry Association Performance of Construction Index (PCI) rose 3.3 points to 24.9 points in May,...
Construction declines further in May

Metals at highest point since March

Copper and aluminium prices climbed to their highest in more than two months overnight as more signs emerged that the Chinese economy is extending its recovery from the coronavirus outbreak. Tight scrap supplies and strong physical demand for copper in China, the...
Construction declines further in May

Gold slips as traders tip economic restart

Gold retreated 1 per cent overnight as investors booked profits and Wall Street rallied on optimism over economies emerging from coronavirus-led shutdowns. Spot gold fell 0.7 per cent to $US1,727.23 per ounce, giving up some gains from earlier in the session. US gold...
Construction declines further in May

Oil up more than 3% ahead of OPEC+ meeting

Oil prices climbed by more than $US1 a barrel overnight on hopes that major crude producers will agree to extend output cuts during a video conference expected to be held this week and as countries begin to reopen after coronavirus lockdowns. Brent crude settled at...
Construction declines further in May

ASX to edge higher before GDP figures

Investors appear set to push the ASX slightly higher in early trade before the release of GDP figures which could all but confirm Australia’s first recession in almost 30 years. The SPI 200 futures contract was higher by 31 points, or 0.53 per cent, to 5,861.0...