Latest news with #ANZBank
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
Fresh ASX record high approaches 9000 milestone; Ampol surges on $1.1b deal; Baby Bunting soars
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket hit a fresh record high every day this week and is closing in on the 9000 milestone, with Friday's session carried by energy, banking, and mining giants. The S&P/ASX 200 gained 64.8 points, or 0.7 per cent, to close at 8938.6, with each day this week finishing higher than the last. Friday's gains came despite a middling session on Wall Street driven by a disappointing report that said US inflation at the wholesale level was worse last month than economists expected. The lifters Financials were one of the best-performing sectors of the day, climbing nearly 1.1 per cent. The big banks, which were mixed earlier in the day, all finished higher: Westpac gained 2.1 per cent, ANZ Bank rose 1.8 per cent, NAB added 0.8 per cent and even the Commonwealth Bank rose 0.6 per cent. Mining was another outperforming sector, finishing 1.1 per cent higher. Rio Tinto gained 1.4 per cent and Fortescue rose 1.3 per cent, while BHP lifted 1.1 per cent. Loading Energy stocks also rose (1.1 per cent). Santos added 1.8 per cent and Woodside added 0.2 per cent. Petrol and diesel supplier Ampol jumped 7.7 per cent after announcing a major expansion plan with the acquisition of British fuel giant EG Group's Australian petrol station network. If the $1.1 billion deal gains regulatory approval, Ampol, formerly known as Caltex Australia, would add EG's 500 fuel sites to its business, enabling it to fast-track the roll-out unstaffed, self-service petrol stations under its U-GO brand.
Business Recorder
12-08-2025
- Business
- Business Recorder
Indian rupee likely to uphold weak bias before US inflation test
MUMBAI: The Indian rupee is likely to open marginally weaker on Tuesday and maintain its downward bias ahead of U.S. inflation data, which will offer clues on the impact of tariffs on prices and signal how far the Federal Reserve may cut rates this year. The 1-month non-deliverable forward indicated the rupee will open in the 87.68-87.70 range versus the U.S. dollar, compared with the close of 87.66 on Monday. Having come close to breaching its all-time low of 87.95 last Tuesday, the rupee has since traded mostly in a narrow range, with any attempts at a meaningful recovery capped by persistent dollar demand from corporates and custodial clients. On Tuesday, the currency briefly inched past 87.50 before slipping back. Right now, 'it's hard to shake off' the bearish bias on the rupee, and the path of least resistance is 'definitely' on the downside, a currency trader at a bank said. The problem for the rupee heading into the U.S. inflation data is that 'it's a lopsided setup', he said. Soft inflation numbers won't move the needle much, while an upward surprise 'will hit hard', said a trader at a foreign bank. The data is expected to show core U.S. inflation to have risen 0.3% in July, pushing the annual rate higher to 3%. The dollar index was largely unchanged at near 98.50, and Asian currencies were mixed on Tuesday. The July report will be scrutinised for the impact of tariffs on goods prices and whether higher tariffs are having a broader impact on prices, ANZ Bank said in a note, while pointing out that the June data had evidence that tariffs boosted prices in some categories. In the sessions before the data, investors have become more confident that the Fed will cut rates next month and at least once more this year, helped by a weak U.S. jobs report.
AU Financial Review
12-08-2025
- Business
- AU Financial Review
Government quizzed over $2b Pacific guarantee for ANZ
A $2 billion guarantee the federal government provides to ANZ Bank to support its operations in nine Pacific nations could distort competition and disadvantage Pacific Islander investors, according to the largest lender in the region, ASX-listed Bank South Pacific. The official backstop for ANZ, announced in March, is part of a diplomatic plan to offset China's growing influence in the Pacific region. Policymakers see Western banks withdrawing from the Pacific as a national security risk if China were to muscle in to provide more financial services in the region.
RNZ News
12-08-2025
- Business
- RNZ News
Truckometer data shows economy trying to shift out of low gear
ANZ's Truckometer showed heavy traffic movements rose 1.8 percent in July on the month before. Photo: RNZ / Marika Khabazi The economy is trying to shift out of low gear, as a key production indicator posted gains last month. ANZ's Truckometer showed heavy traffic movements - an indicator of current activity - rose 1.8 percent in July on the month before and is up 2.8 percent on last year. The light traffic index - a measure of consumer behaviour looking six months ahead - rose by 1.4 percent in July and is up 0.9 percent on last year. ANZ chief economist Sharon Zollner cautioned that the rebound followed on the heels of a tough second quarter. "The trend in light traffic has been only very mildly upward over recent months," she said. "In per capita terms, light traffic is going sideways." "In Q2, the heavy truck index was down 0.1 percent, adding to the list of activity indicators suggesting the economy may have shrunk in Q2, but at least Q3 is off to a more positive start." Zollner said the data highlighted the "two-speed" nature of New Zealand's economic recovery. "The agriculture sector in particular, and goods-producing sectors in general, are outperforming the consumer sector," she said. "Things like retail and hospitality are doing it particularly tough at the moment." Zollner said while the data can be volatile, it is consistent with their forecast of a slow recovery over the second half of the year, especially as consumers move to lower mortgage rates. She said the slower-than-expected recovery would need support though, via lower interest rates. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Mint
10-08-2025
- Business
- Mint
Retail inflation likely fell to a record low of 1.4% in July: Mint poll
India's retail inflation likely fell to a record low in July due to a sustained decline in food inflation, according to a Mint poll. The inflation measured by the current consumer price index (CPI) is estimated to further fall to 1.4% in July from 2.1% in the previous month, according to the poll of 22 economists. That would mean the lowest since January 2014 under the currentCPI series, with 2012 as the base year. However, economists said this could mark the lowest point in the declining streak and expect inflation to go up from August onward. So far, the continued statistical effect of a favourable base effect, especially for food, has helped in pulling inflation polled by Mint projected CPI inflation in the range of 1.1-1.8%. The official data is scheduled to be released on 12 August. 'A sharper deflation in the 'food and beverage' category was the main driver (for headline inflation), benefiting from favourable base effects and a sustained month-on-month decline in the prices of pulses," said Dhiraj Nim, economist at ANZ Bank. Food, which constitutes nearly 40% of the overall inflation basket, has been the primary factor pulling headline inflation down. In June, food inflation was -1.1% and food and beverages inflation was -0.2%. These groups are expected to remain in the deflation zone in July as well. However, inflation is expected to move upward from August, aligning itself broadly with the Reserve Bank of India's estimates, economists said. 'This is likely to be the trough, with a subsequent upmove broadly in line with the quarterly estimates provided by the Monetary Policy Committee," said Aditi Nayar, chief economist atIcra faster-than-expected decline in inflation, with a nine-month-long declining streak, led to lower projections by the central bank last week. The full-year inflation projection was cut by 60 basis points to 3.1%, while the estimate for the current quarter was lowered by 130 basis points to 2.1%.However, despite the cuts, the rate-setting panel left the policy repo rate unchanged due to the larger-than-expected cut of 50 basis points in June and the possibility of inflation rising above the medium-term aim of 4.0% in the last quarter of the current financial year.'With growth holding firm and inflation expected to rise, we do not expect further rate cuts in this cycle unless downside risks to growth materialize," said CareEdge in a note last week.
