The Australian share market is almost 1.4 per cent lower, dragged down by the banking sector's reaction to ANZ's capital raising and falls on Wall Street.
A major sell-off in media equities following disappointing earnings reports from Viacom and 21st Century Fox have pushed US stocks lower, with the biggest hit taken by the Nasdaq.
The Australian share market has closed lower, largely pulled down by weakness among the major banks after the ANZ bank announced a $3 billion capital raising.
While it’s a close call, chances are the Reserve Bank of Australia will cut rates again before year end reflecting the poor business investment outlook, greater than expected weakness in commodity prices, and the $A remaining too high.
The Australian dollar is virtually unchanged, with a push for a US rate hike from a Fed boss offsetting favourable comments from the Reserve Bank of Australia.
Perth-based NWQ Capital Management has been selected by Yellow Brick Road to manage a new protected equities fund that it will seek to operate as a ‘hedge fund for retail investors’.
The Australian dollar has lifted against the greenback, which fell after weak US wage growth data raised concerns an expected Federal Reserve rate rise could be delayed.
The story of this reporting season will be a familiar one: companies with offshore earnings or exposed to the booming housing market doing well, while miners and the companies that service them suffer.
Australia's biggest lender to landlords has hiked interest rates for investors to meet the regulator's "speed limit", aimed at taking some of the heat out of the housing investment market.
The Dow has been dragged lower by weak Procter & Gamble results Thursday, but the Nasdaq gained as food giant Mondelez raised its forecast after better-than-expected earnings.
