Banks bounce on rate cut hopes but investors still wary
Australian shares have continued to trade within a tight range as uncertainty hangs over the Israel-Iran conflict, but interest rate-sensitive stocks have improved on the back of a cooling labour market.
The S&P/ASX200 edged down 0.1 point, or zero per cent, to 8,530.9, on Thursday as the broader All Ordinaries lost 9.8 points, or 0.11 per cent, to 8,748.1.
Seven of 11 local sectors finished lower, but a surprise drop in employment in May left the door open to a Reserve Bank interest rate cut in July, helping rate-sensitive sectors such as financials, real estate and consumer facing-stocks push higher.
The materials sector continued to weigh on the bourse, down 1.7 per cent as lumbering iron ore prices dragged on large cap miners and gold fell to a seven-day low.
The Australian dollar is slightly lower against the greenback, buying 64.66 US cents, down from 65.07 US cents on Wednesday at 5pm.
Australian shares have continued to trade within a tight range as uncertainty hangs over the Israel-Iran conflict, but interest rate-sensitive stocks have improved on the back of a cooling labour market.
The S&P/ASX200 edged down 0.1 point, or zero per cent, to 8,530.9, on Thursday as the broader All Ordinaries lost 9.8 points, or 0.11 per cent, to 8,748.1.
Seven of 11 local sectors finished lower, but a surprise drop in employment in May left the door open to a Reserve Bank interest rate cut in July, helping rate-sensitive sectors such as financials, real estate and consumer facing-stocks push higher.
The materials sector continued to weigh on the bourse, down 1.7 per cent as lumbering iron ore prices dragged on large cap miners and gold fell to a seven-day low.
The Australian dollar is slightly lower against the greenback, buying 64.66 US cents, down from 65.07 US cents on Wednesday at 5pm.
Australian shares have continued to trade within a tight range as uncertainty hangs over the Israel-Iran conflict, but interest rate-sensitive stocks have improved on the back of a cooling labour market.
The S&P/ASX200 edged down 0.1 point, or zero per cent, to 8,530.9, on Thursday as the broader All Ordinaries lost 9.8 points, or 0.11 per cent, to 8,748.1.
Seven of 11 local sectors finished lower, but a surprise drop in employment in May left the door open to a Reserve Bank interest rate cut in July, helping rate-sensitive sectors such as financials, real estate and consumer facing-stocks push higher.
The materials sector continued to weigh on the bourse, down 1.7 per cent as lumbering iron ore prices dragged on large cap miners and gold fell to a seven-day low.
The Australian dollar is slightly lower against the greenback, buying 64.66 US cents, down from 65.07 US cents on Wednesday at 5pm.
Australian shares have continued to trade within a tight range as uncertainty hangs over the Israel-Iran conflict, but interest rate-sensitive stocks have improved on the back of a cooling labour market.
The S&P/ASX200 edged down 0.1 point, or zero per cent, to 8,530.9, on Thursday as the broader All Ordinaries lost 9.8 points, or 0.11 per cent, to 8,748.1.
Seven of 11 local sectors finished lower, but a surprise drop in employment in May left the door open to a Reserve Bank interest rate cut in July, helping rate-sensitive sectors such as financials, real estate and consumer facing-stocks push higher.
The materials sector continued to weigh on the bourse, down 1.7 per cent as lumbering iron ore prices dragged on large cap miners and gold fell to a seven-day low.
The Australian dollar is slightly lower against the greenback, buying 64.66 US cents, down from 65.07 US cents on Wednesday at 5pm.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
18 minutes ago
- The Advertiser
Stocks tumble, safe havens gain as Mideast war flares
Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341. Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341. Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341. Global stocks have fallen and the dollar has risen as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones. President Donald Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday, "I may do it. I may not do it." The Wall Street Journal reported that Trump had told senior aides he approved attack plans on Iran but was holding off on giving the final order to see if Tehran would abandon its nuclear programme. In Europe, stocks fell for a third day on Thursday, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. US S&P 500 futures fell 0.6 per cent, although most US markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. "Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at Speculation was rife "that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran", he said. "Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth." Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose nearly one per cent to $US77.40 a barrel, close to its highest since January. Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $US3,366 an ounce. The dollar itself rose broadly, leaving the euro down 0.1 per cent at $US1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and one per cent, respectively. Overnight, the Federal Reserve delivered some mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. However, Fed chair Jerome Powell struck a cautious note about further easing ahead, saying at his media conference later that he expected "meaningful" inflation ahead as a result of Trump's aggressive trade tariffs. Markets will now look to a string of central bank policy decisions out of Europe for any possible catalysts. The Swiss National Bank cut interest rates to zero, as expected, leaving the franc to drift as markets had priced in a roughly-20 per cent chance of a half-point cut. The franc, which has been a major beneficiary of safe-haven buying this year, was last steady against both the dollar, at 0.819 francs, and the euro at 0.9395 francs. The Bank of England is up next and is expected to keep UK rates unchanged. Data on Wednesday showed inflation cooled as expected in May, although food prices shot up and policymakers will be considering the potential impact from higher energy prices in light of the Israel-Iran war. Sterling edged 0.1 per cent lower to $US1.341.
Sky News AU
an hour ago
- Sky News AU
Major disruption for busy court complex
Ooops, an error has occurred! Please call us on 1800 070 535 and we'll help resolve the issue or try again later. The Streaming Subscription provides Australians access to top rating opinion shows, award-winning political coverage, live breaking news, sport and weather, expert business insights and groundbreaking documentaries across four dedicated news channels for $5 a month. This includes: Sky News – Australia's news channel featuring award-winning journalists, insights from the biggest names in opinion, ground-breaking special investigations, and live breaking news, sport and weather. Available live and on-demand. Sky News Extra – A dedicated 24/7 channel featuring live press conferences and Parliament broadcasts, with unfiltered access to Australian democracy in action. Available live. Sky News Weather – Australia's only 24/7 weather channel bringing you the latest weather forecasts from the country's largest team of meteorologists. Available live. FOX SPORTS News – Australia's only 24/7 sports news channel, first and live in breaking sports news. Available live. Stream Sky News channel shows in full live and on-demand on or the Sky News Australia app and cast to your compatible TV. For the best streaming experience, stream your favourite Sky News shows on your compatible Smart TV. For a step-by-step guide on how to sign in on your Smart TV or to find out if your Smart TV is compatible, visit our help page. There is no lock-in contract when you subscribe to a Streaming Subscription. Renewals occur automatically unless cancelled as per full Terms and Conditions . The Streaming Subscription is not available outside of Australia. If overseas (excluding New Zealand), you can access your favourite Sky News Australia programs by signing up to Australia Channel. Sky News Australia's international 24/7 news streaming service. Find out more here. You can continue to access digital-only content, video highlights, and listen to the latest podcasts without a subscription on our website and app. The Streaming Subscription gives subscribers live stream access to unrivalled news and opinion content across four dedicated news channels 24/7.
Man of Many
2 hours ago
- Man of Many
BYD Atto 2 and Flagship Sealion 8 Set to Shake Up Australia
By Somnath Chatterjee - News Published: 19 June 2025 Share Copy Link Readtime: 5 min Every product is carefully selected by our editors and experts. If you buy from a link, we may earn a commission. Learn more. For more information on how we test products, click here. Chinese automaker BYD has confirmed that the Atto 2 compact vehicle and the flagship Sealion 8 will be arriving in Australia. and the will be arriving in Australia. The Atto 2 will slot in between the Dolphin and the Atto 3, with expected pricing to be sub-$35,000 . . Sealion 8 PHEV will serve as BYD's new three-row flagship SUV . . Both launches are scheduled in the next few months, with the Atto 2 to arrive first. It is no secret that BYD plans to dominate the Australian automotive market. Over the past few years, the Chinese automaker has steadily rolled out new budget-conscious models, surprisingly spacious lifestyle vehicles and a flagship release or two, but in 2025, BYD is stepping up its game. After moving from a private distributor to an in-house model, the brand is aggressively expanding its Australian presence, starting with the newly unveiled Atto 2 and Sealion 8. Both new vehicles, which operate on separate ends of the BYD spectrum, represent lucrative product launches for the ever-expanding BYD clientele. Better still, both new vehicles are expected to land Down Under in the 'next few months', meaning the rest of the industry better watch out. BYD Atto 2 confirmed for Australia | Image: BYD Automotive BYD Atto 2 As the brand's latest small SUV, the Atto 2 promises to further democratise EVs for Australian consumers, namely through price and convenience. The small but conservatively styled vehicle represents BYD's new entry-level crossover for the Australian market and essentially uses the same underpinnings as the Dolphin, albeit in a more universally appealing SUV body style. Two trims will be available from launch, Essential and Premium, both of which utilise a front motor with an output of 130kW/290Nm. BYD has noted a claimed range of 401km with a 51.3 kWh LFP battery; however, you can expect a more realistic figure of 300km on the WLTP test. BYD Atto 2 interior | Image: BYD Automotive Features Impressively, while the Atto 2 might be BYD's entry-level SUV, the feature list is far from bare-bones. According to Wing You, BYD Australia general manager, the new vehicle will arrive with staple brand additions such as a 12.8-inch touchscreen, 360-degree camera, and ADAS. 'With its exciting looks, superlative technology, and eminent versatility, the Atto 2 promises to be a game-changer in the small-size SUV segment,' Wing You said. 'The Atto family of vehicles is expanding in Australia, and we're confident this latest addition will be well received by local buyers.' Atto 2 Pricing While BYD has not officially confirmed the pricing, the expectation is that the new small SUV will be a step up from the $29,990 Dolphin. That being said, it could quite easily take the title of being the most affordable Chinese SUV by undercutting the likes of the Chery E5 ($39,990 before on-road costs) and the MG S5 (costing $40,490). In other words, it could be the most popular BYD SUV by occupying the sweet spot between the Dolphin and the Atto 3. BYD Sealion 8 confirmed for Australia | Image: BYD Automotive BYD Sealion 8 Meanwhile, BYD continues to enter the premium luxury segment with its largest product yet, while also ticking the box for a three-row SUV. The massive Sealion 8 is a plug-in hybrid SUV with a 110kW, 1.5-litre turbocharged petrol engine that comes with either a front wheel drive configuration in the DM-i (Intelligence) hybrid trim with a 200kw electric motor plus a 19kW battery or the all-wheel drive DM-p (Performance) hybrid variant which adds a second 141kW motor at the rear axle while having a larger 35.6kWh battery. With a bigger battery pack than the Shark Ute, expect the pure electric range to surpass the pick-up at more than 100km. BYD Sealion 8 Performance In terms of performance, the large Sealion 8 DM-p has plenty of firepower with a claimed 0-100 km/h time of 4.9 seconds, which is remarkably close to the smaller Sealion 7. The interiors, meanwhile, are plush, and you need not have to get these eccentric leather colours, but the cabin would be decked out with massage, heated and cooled seats for both the front and second row. It will also be the most cavernous BYD with a large storage capacity. Expect the pricing of the Sealion 8 to be north of $80,000 when it goes on sale here, and that means it will fight head-on with the Kia Sorento PHEV. BYD Sealion 8 interior | Image: BYD Automotive 'We've listened to our customers. We know the desire is here for a proper full-size, seven-seater PHEV SUV,' Wing You, BYD Australia general manager said. 'We're incredibly proud of what the SEALION 8 will represent for BYD in Australia. It's going to be a flagship model for us, and, in classic BYD fashion, it will exceed the consumers' expectations for tech, luxury, and value.' The Atto 2 will come towards the end of the year and the Sealion 8 will be launched by early next year while the launches will not stop there either as BYD looks to fill in all the gaps in its product range by introducing an even smaller car below the Dolphin which is the Seagull or Dolphin Mini. Plus, off-road fans would rejoice at the prospect of the Denza sub-brand, which brings an array of rugged SUVs. It seems BYD wants to clearly increase its market share in Australia over the next few years and will not stop until it does so. BYD Atto 2 confirmed for Australia | Image: BYD Automotive
