Australian shares are set to fall slightly as investors absorbed the implications of a federal budget that has had to walk the line between addressing the cost-of-living crisis and the perils of inflation.
Politicians across the board are demanding names of other partners involved in the PwC tax leaks scandal after the departure of former CEO Tom Seymour.AUD -0.3% to 67.64 US centsIn New York: BHP -0.3% Rio +0.3% Atlassian +3%Spot gold +0.7% to $US2,036.41 /oz at 2.29pm in New York10-year yield: US 3.52% Australia 3.45% Germany 2.34%Stocks drifted lower following some mixed earnings reports. Several beaten-down banks are also weakening after a brief respite from a brutal run.
Electric automaker Lucid Group dropped 6.9 per cent after reporting a worse loss than expected for the latest quarter. In a note to clients on Tuesday, he said: “We have been wrong, plain, and simple. The reality is that, while inflation exhibits some idiosyncratic persistence, contrary to what we expected, activity has proven far more resilient.”The Albanese government is expected to bank a further $22 billion in revenue from record iron ore and coal prices in future budgets after Treasury was forced to update its price assumptions for key commodities.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX to fall slightly; Wall Street sweats on debt ceiling showdownAustralian shares are set to fall slightly as investors absorbed the implications of a federal budget that has had to walk the line between addressing the cost-of-living crisis and fuelling inflation.
Read more »
ASX LIVE: ASX to dip; $A flexes its muscles, retail trade aheadAustralian shares are set to dip slightly as budget day rolls around with Treasurer Jim Chalmers set to reveal a one-off $4 billion surplus. Commonwealth Bank reports third quarter results. Leadership reshuffle at a2 Milk. Canaccord dives as management buyout thrown in doubt. Follow the latest here.
Read more »
ASX LIVE: Australian shares poised to open higher, earnings in focusAustralian shares poised to rise; GQG inflows of $US5.4b this year; Lynas Malaysian licence valid until start of 2024; Westpac lifts dividend on profit jump. Follow updates here.
Read more »
Eight much-loved stocks that investors should worry aboutJust as Wall Street is being pushed higher by a small group of big stocks, ASX investors have crowded into a handful of ’“diamond defensives”, including Woolworths and Telstra.
Read more »
ASX 200 expected to see a ‘sunny start’ at the openCommSec's Craig James says the Australian share market is expected to see a “sunny start” today at the open. “The gain expected by the futures market of 64 points or nine-tenths of one per cent, and that’s because we’ve had a positive lead-in from the US and European markets,” Mr James told Sky News Australia. “European markets were up around about one per cent – gains of around about 1.7 to 2.3 per cent across the US markets.” Presented by CommSec.
Read more »
ASX 200 finished the day up on MondaySky News Business Editor Ross Greenwood says the ASX 200 finished the day up on Monday by 0.78 per cent.
Read more »