Articles by Wesfarmers
Australian Stock Market Report – Midday December 22, 2014
December 22 2014 4:43 PM
The ASX 200 has started a holiday shortened week in the same fashion it ended the previous week; with solid gains. At lunch on the east coast the index was close to the best levels of the day. Local stocks pressed ahead on the back of gains for US stocks at weeks end, which capped off an encouraging week on Wall St. After being up 96 points, the Dow Jones finished higher by almost 27 points or 0.2%. The S&P 500 index rose by 0.5% while the Nasdaq lifted by 17 points or 0.4%. For the week, the Do...
Australia Set To Become The Hub Of G20 Infrastructure Development Agency
November 11 2014 2:29 PM
Australia's push for private sector driven infrastructure development will address the equity crunch in projects.
Australian Stock Market Report – Afternoon October 13, 2014
October 13 2014 7:01 PM
The Australian market has slumped for the fifth time in six days and remains near an eight-month low. The All Ordinaries (XAO) slipped by 0.6 per cent and local stocks have shed 9.5 per cent from the highs reached at the start of September. The strength in the US dollar and recent concerns of sluggish world growth have been two drivers.
Australian Stock Market Report – Midday September 4, 2014
September 04 2014 1:16 PM
Markets are softer at lunch, with the All Ordinaries Index (XAO) down 0.3 per cent. Despite the weakness local shares are still only 0.6 per cent below six-year highs. US markets finished mixed overnight, but the moves across all major American markets were modest.
Coles Cuts 400 Jobs, But To Open More Stores
September 04 2014 8:08 AM
Australian grocery giant Coles said on Wednesday that it would axe more than 400 jobs from its head office in Melbourne. At the same time, it would open more outlets.
Australian Stock Market Report – Midday September 1, 2014
September 01 2014 3:09 PM
The local share market has started the week on a positive footing, gravitating towards the 5650 area for the ASX 200. Sentiment was helped by US share markets which ended modestly higher on Friday. Investors remained wary as they monitored both the situation in Ukraine and mixed economic data in addition to a wariness about taking on new positions ahead of a holiday weekend. Domestic sellers remain wary of the underlying strength of US stocks with the S&P 500 index closing at record highs; while...
Australian Stock Market Report – Midday August 29, 2014
August 29 2014 3:05 PM
The Australian market is unchanged at lunch, with weakness from the mining sector and consumer staples holding the broader market back. Shares in the US fell for the first time this week while remaining near record highs. Stronger than expected US economic growth last night was offset by tensions in Eastern Ukraine. US markets will be shut on Monday for a holiday.
Australian Stock Market Report – Midday August 26, 2014
August 26 2014 4:02 PM
Local shares were flat footed in early trade on Tuesday, despite solid improvements for US stocks overnight which included the S&P 500 briefly lifting above 2,000 points for the first time. A continuing theme on Tuesday has been the weakness in the resource sector after commodity prices finished the northern hemisphere sessions with mixed fortunes. Investors remain wary of iron ore after prices fell 2% in the last day. More significant however is that prices have fallen below $US90 per tonne. Wh...
Australian Stock Market Report – Afternoon August 20, 2014
August 20 2014 7:56 PM
By the end of the day, the ASX 200 (XJO) both finished 0.19% up 10.8 points at 5637.6. US consumer prices rose only 0.1% in July, just below expectations. Housing starts up by 15.7% at 1.093 Million annual rate for July, well above the forecasted 969,000. US shares finished with solid gains, the Dow and S&P 500 up 0.5% and the Nasdaq up 0.4%. Iron ore and steel prices continue to fall in China, with traders unimpressed by the Chinese government's efforts to boost construction demands.
New BHP Billiton $15B Spin-off Company for Unwanted Assets to Set Up HQ in Perth
August 18 2014 9:20 AM
BHP Billiton (ASX: BHP) will open a new spin-off company worth $15 billion, with headquarters in Perth. It would be one of the largest publicly listed companies in the Australian Stock Exchange (ASX) based in Perth according to market capitalisation.
Don’t Sell Stocks With High PE Ratios, Stock Market Expert Advises
August 12 2014 4:21 PM
Brisbane Times columnist Marcus Padley identified on Monday some 26 stocks in the Australian Stock Exchange (ASX) 200's industrial sector and listed shares that investors consider vulnerable because of their high price-to-earning (PE) ratios.
Australian Stock Market Report – Afternoon 5/28/14
May 28 2014 5:21 PM
The Australian share market continued its good run during the month of May, rising 0.3 per cent today to close near 2014 highs. The All Ordinaries Index (XAO) was higher by 16 points to 5506.7 while the ASX 200 (XJO) was up 15.5 points to 5527.
Australian Stock Market Report – Midday 5/28/14
May 28 2014 12:56 PM
Local stocks benefitted from some US direction overnight with Wall St overnight returning from a long weekend. The broader US market continued to grind higher following better economic readings. This translated to a positive start for local stocks with the ASX 200 trading higher by around 20 points in early trade. As lunch time drew closer the market gave up some its gains, although it remained in the range of positive territory.
Australian Stock Market Report – Afternoon 5/6/14
May 06 2014 5:00 PM
Tuesday's session saw a tussle between buyers and sellers, albeit it was an exchange that took place with the index occupying positive territory over the session. Volumes were conspicuously low with only $3.3bln in shares having changed hands. As the session drew to a close the ASX 200 found some comfort in the RBA statement that accompanied its decision to leave rates on hold, although the substance of the text varied little in the last month. The Reserve Bank left the official cash rate on ...
Australian Stock Market Report – Afternoon 5/1/14
May 01 2014 5:28 PM
It was another session where the early trend showed few signs of changing course after the opening bell sounded. With less than half an hour to trade the ASX 200 continued the plumb new lows for the session , the market finished within 10 points of the lowest levels of the day.
Australian Stock Market Report – Afternoon 4/30/14
April 30 2014 7:12 PM
The Australian share market finished only marginally higher on Wednesday, despite good gains offshore. US market sentiment was buoyed by earnings news with the Dow Jones Index up 0.5 per cent.
Australian Stock Market Report – Midday 4/30/14
April 30 2014 12:47 PM
Despite a firmer start this morning and a strong lead from Wall Street, the Australian sharemarket commenced its descent after just 20 minutes of trade. The All Ordinaries Index (XAO) is down for the second day and remains below 5500pts. Weakness from the consumer staples and financial industries are holding the market back most.
Australian Stock Market Report – Afternoon 4/7/14
April 07 2014 5:46 PM
The Australian sharemarket kicked off the week a touch lower, with the All Ordinaries Index (XAO) down 0.2 per cent; remaining modestly above the 5400pt mark. Tomb sweeping day in China is being observed today, resulting in the closure of China's markets. Last week, the XAO rose by close to 1 per cent, making it the third straight week of improvements.
Australian Stock Market Report –Midday 4/7/14
April 07 2014 12:57 PM
The Australian share market has started the trading week in the red, following weakness on Wall Street on Friday.
Australian Stock Market Report – AFternoon 3/26/14
March 26 2014 5:36 PM
The Australian share market rose convincingly today, helped out by strong gains from our mining players and a positive offshore lead. The All Ordinaries Index (XAO) closed off the highs of the day, but managed to rise 36.2 points or 0.7 per cent by close to 5387.2.