Wall Street falls as virus cases surge

Wall Street’s major indexes have dropped as the United States set a new record for a one-day increase in coronavirus cases and bank stocks fell following the Federal Reserve’s move to cap shareholder payouts. The S&P 500 banks sub-index declined 3.9...

Oil falls 5% as US crude stocks hit record

Oil prices tumbled over 5 per cent, or more than $US2 a barrel overnight, after US crude storage hit another record and coronavirus cases rebounded in countries like Germany and surged in heavily populated areas of the United States. The United States had its...

Gold falls by 1% on stronger US dollar

Gold fell more than 1 per cent overnight as the dollar hovered near a more than one-week high, but the metal held above $US1,700 an ounce, buoyed by fears of a second wave of coronavirus infections. Spot gold fell 0.2 per cent to $US1,726.61 per ounce by 1804 GMT. US...

Oil falls 3% as Gulf ends voluntary curbs

Oil fell more than 3 per cent overnight after OPEC+ nations agreed to extend output cuts, but Saudi Arabia and two other Gulf producers said they would not maintain supplemental reductions that amount to more than a million barrels of daily supply. Brent crude fell,...

Optus FY20 profit falls 39% to $402m

Optus says the full-year net profit delivered to its Singaporean parent company Singtel dropped 39 per cent to $402 million amid a “challenging year for the industry”. Revenue for the 12 months to March 31 dropped 2.0 per cent to $8.95 billion as higher...