In fact, the WPI at 3.3% was less than the Reserve Bank’s latest forecast earlier this month of a 3.5% rise. “The enterprise agreements that have been signed over the past four or five months have bigger wage increases this year. It was the 10th rise in the cash rate in less than a year from the most gung-ho central bank in the developed world. Labour shortages remain a significant constraint on economic activity, contributing to heightened wage inflation. “While there are early signs of demand easing it continues to outpace supply, as reflected in strong domestic inflation.
by Peter MiliosMaterials is down 1.79 per cent at noon, as heavy hitters, BHP (ASX:BHP), Rio Tinto (ASX: RIO) and South32 (ASX:S32) suffer losses to start the day of trade. The SPI futures are pointing to a fall of 16 pointsBest and worst performersThe best-performing sector is Utilities, up 0.89 per cent. The best-performing large cap is Qube Holdings (ASX:QUB), trading 8.03 per cent higher at $3.23. Some said that the risks to their inflation outlook had become more balanced, though participants agreed that the risks to the outlook for economic activity were weighted to the downside. In response, CEO Matt Aiken stated, ““The first half result was ahead of expectations, underpinned by a strong performance across the Group.” Shares are trading 3.9 per cent higher at $2.68 at noon.1 month ago ShareCafe
Overnight, the US stock and bond markets were closed, on account of Presidents’ Day. It is currently trading at $2.283, the lowest level since September 28, 2020 when it traded as low as $2.02. Figures around the globeAcross the Atlantic, European markets closed mixed. London’s FTSE added 0.1 per cent, Frankfurt lost 0.03 per cent while Paris closed 0.2 per cent lower. In Asian markets, Tokyo’s Nikkei added 0.07 per cent, Hong Kong’s Hang Seng gained 0.8 per cent while China’s Shanghai Composite closed 2.1 per cent higher.1 month ago ShareCafe
by Peter MiliosThe ASX is 0.15 per cent lower at noon, weighed down by Energy and Real Estate stocks. On the other end, Financials is the biggest winner, as the majority of the big banks are all trading higher. The best-performing large cap is QBE Insurance Group (ASX:QBE), trading 2.15 per cent higher at $14.70. In South Korea, the Kospi opened 0.33 per cent lower, while the Kosdaq gained marginally. Iron ore is 2.0 per cent higher at US$127.30 a tonne.1 month ago ShareCafe
And among those ICE groups, the most vulnerable will be joint ventures – either of local makers, or local or foreign groups. That will drive continued market share losses for mass-market joint venture brands, which have limited presence in the NEV market. and Dongfeng Motor Group Co. – saw their overall market share shrink by 1.4 to 1.6 percentage points last year. The stake reduction was the latest in a string of share sales by Berkshire to reduce its holdings in BYD. Buffett’s company has now sold around 95 million of its original holding of 225 million BYD shares.1 month ago ShareCafe
Overall, at the closing bell, the S&P/ASX 200 was 1.06 per cent lower at 7,352.20. Utilities closed higher 1.1 per cent higher, following big gains from Meridian Energy (ASX:MEX), and Origin Energy (ASX:ORG). The best-performing large cap was Cochlear (ASX:COH), closing 7.75 per cent higher at $225.28. The worst-performing large cap was Treasury Wine Estates (ASX:TWE), closing 6.91 per cent lower at $13.34. Iron ore is 1.6 per cent higher at US$123.75 a tonne.1 month ago ShareCafe
At noon, the S&P/ASX 200 is 0.12 per cent higher at 7,548.40. The best-performing large cap is Whitehaven Coal (ASX:WHC), trading 4.96 per cent higher at $8.88. Shares are trading 13.3 per cent higher at 1.7 cents at noon. Shares are trading 1.06 per cent higher at 9.5 cents at noon. Iron ore is 1.7 per cent lower at US$124.05 a tonne.1 month ago ShareCafe
The Australian dollar has passed US69c for the first time in four months, amidst signs of slower inflation rates. The best-performing large cap is South32 (ASX:S32), trading 4.12 per cent higher at $4.425. Fed’s Barkin pushed back against a tweak to the 2 per cent inflation target, noting it risks the central bank’s credibility. This indicates strong potential for additional massive sulphide discoveries in this new target zone.” Shares are trading 26.19 per cent higher at $0.053 at noon. Iron ore is 2.2 per cent higher at US$119.80 a tonne.2 months ago ShareCafe