Latest news with #BrianMartin
Business Recorder
7 days ago
- Business
- Business Recorder
Asian shares, Aussie dollar climb on trade, earnings optimism
TOKYO: Shares in Asia rallied and the Australian dollar hit an eight-month high on Thursday as optimism over earnings and trade supported demand for higher yielding assets. Tokyo's broad Topix gauge of shares hit an all-time high, following new records on Wall Street overnight, after a trade pact between Japan and the U.S. stoked speculation more deals would appear soon to head off sweeping tariffs. Nasdaq and S&P futures rose after results by Google parent Alphabet beat estimates to kick off the 'Magnificent Seven' earnings season. The U.S. has also reached deals with the Philippines and Indonesia and an agreement with the European Union is also expected. 'Worst case concerns about tariffs in the U.S. are probably dissipating to some degree at the moment, but nonetheless, tariffs are going up and that is a hurdle for consumers,' Brian Martin, ANZ's head of G3 economics, said in a podcast. The EU and U.S. are closing in a trade deal that would impose 15% tariffs on European imports, while waiving duties on some items, according to officials from the European Commission. Meanwhile, Treasury Secretary Scott Bessent said U.S. and Chinese officials will meet in Stockholm next week. Second-quarter earnings season is underway in the U.S., with 23% of the companies in the S&P 500 having reported. Of those, 85% have beaten Wall Street expectations, according to LSEG data. Results from Magnificent Seven members, whose results have powered indexes to previous peaks, are in the spotlight for guidance on spending and returns surrounding artificial intelligence (AI). Alphabet strongly beat estimates and cited massive demand for its cloud computing services as it hiked its capital spending plans. But electric car maker Tesla posted its worst quarterly sales decline in more than a decade and profit that trailed analyst targets. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%. Japan's Topix surged for a second day, rising 1.4% to surpass its previous all-time high reached last year. The Australian dollar, a common proxy for risk sentiment, fetched $0.66 , just off $0.6604 hit earlier, which was the highest since November 2024. The U.S. dollar dropped 0.1% to 146.38 yen. U.S. crude climbed 0.4% to $65.5 a barrel. Spot gold was traded at $3,390.84 per ounce, up 0.1%. In early trades, pan-region Euro Stoxx 50 futures shot up 1.3% at 5,435, while German DAX futures were up 1.3%. U.S. stock futures, the S&P 500 e-minis , were up 0.13% and Nasdaq contracts climbed 0.4%.
The Star
7 days ago
- Business
- The Star
Asian shares, Aussie dollar climb on trade, earnings optimism
A woman walks past an electronic screen displaying the stock index prices of Asian countries outside a brokerage in Tokyo, Japan April 24, 2025. REUTERS/Issei Kato TOKYO: Shares in Asia rallied and the Australian dollar hit an eight-month high on Thursday as optimism over earnings and trade supported demand for higher yielding assets. Tokyo's broad Topix gauge of shares hit an all-time high, following new records on Wall Street overnight, after a trade pact between Japan and the U.S. stoked speculation more deals would appear soon to head off sweeping tariffs. Nasdaq and S&P futures rose after results by Google parent Alphabet beat estimates to kick off the "Magnificent Seven" earnings season. The U.S. has also reached deals with the Philippines and Indonesia and an agreement with the European Union is also expected. "Worst case concerns about tariffs in the U.S. are probably dissipating to some degree at the moment, but nonetheless, tariffs are going up and that is a hurdle for consumers," Brian Martin, ANZ's head of G3 economics, said in a podcast. The EU and U.S. are closing in a trade deal that would impose 15% tariffs on European imports, while waiving duties on some items, according to officials from the European Commission. Meanwhile, Treasury Secretary Scott Bessent said U.S. and Chinese officials will meet in Stockholm next week. Second-quarter earnings season is underway in the U.S., with 23% of the companies in the S&P 500 having reported. Of those, 85% have beaten Wall Street expectations, according to LSEG data. Results from Magnificent Seven members, whose results have powered indexes to previous peaks, are in the spotlight for guidance on spending and returns surrounding artificial intelligence (AI). Alphabet strongly beat estimates and cited massive demand for its cloud computing services as it hiked its capital spending plans. But electric car maker Tesla posted its worst quarterly sales decline in more than a decade and profit that trailed analyst targets. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%. Japan's Topix surged for a second day, rising 1.4% to surpass its previous all-time high reached last year. The Australian dollar, a common proxy for risk sentiment, fetched $0.66, just off $0.6604 hit earlier, which was the highest since November 2024. The U.S. dollar dropped 0.1% to 146.38 yen. U.S. crude climbed 0.4% to $65.5 a barrel. Spot gold was traded at $3,390.84 per ounce, up 0.1%. In early trades, pan-region Euro Stoxx 50 futures shot up 1.3% at 5,435, while German DAX futures were up 1.3%. U.S. stock futures, the S&P 500 e-minis, were up 0.13% and Nasdaq contracts climbed 0.4%. - Reuters
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Business Standard
7 days ago
- Business
- Business Standard
Asian shares rally, Aussie dollar hits 8-month high on trade optimism
The Australian dollar, a common proxy for risk sentiment, fetched $0.66, just off $0.6604 hit earlier, which was the highest since November 2024 Reuters TOKYO Shares in Asia rallied and the Australian dollar hit an eight-month high on Thursday as optimism over earnings and trade supported demand for higher yielding assets. Tokyo's broad Topix gauge of shares hit an all-time high, following new records on Wall Street overnight, after a trade pact between Japan and the US stoked speculation more deals would appear soon to head off sweeping tariffs. Nasdaq and S&P futures rose after results by Google parent Alphabet beat estimates to kick off the "Magnificent Seven" earnings season. The US has also reached deals with the Philippines and Indonesia and an agreement with the European Union is also expected. "Worst case concerns about tariffs in the US are probably dissipating to some degree at the moment, but nonetheless, tariffs are going up and that is a hurdle for consumers," Brian Martin, ANZ's head of G3 economics, said in a podcast. The EU and US are closing in a trade deal that would impose 15 per cent tariffs on European imports, while waiving duties on some items, according to officials from the European Commission. Meanwhile, Treasury Secretary Scott Bessent said US and Chinese officials will meet in Stockholm next week. Second-quarter earnings season is underway in the US, with 23 per cent of the companies in the S&P 500 having reported. Of those, 85 per cent have beaten Wall Street expectations, according to LSEG data. Results from Magnificent Seven members, whose results have powered indexes to previous peaks, are in the spotlight for guidance on spending and returns surrounding artificial intelligence (AI). Alphabet strongly beat estimates and cited massive demand for its cloud computing services as it hiked its capital spending plans. But electric car maker Tesla posted its worst quarterly sales decline in more than a decade and profit that trailed analyst targets. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent. Japan's Topix surged for a second day, rising 1.4 per cent to surpass its previous all-time high reached last year. The Australian dollar, a common proxy for risk sentiment, fetched $0.66, just off $0.6604 hit earlier, which was the highest since November 2024. The US dollar dropped 0.1 per cent to 146.38 yen. US crude climbed 0.4 per cent to $65.5 a barrel. Spot gold was traded at $3,390.84 per ounce, up 0.1 per cent. In early trades, pan-region Euro Stoxx 50 futures shot up 1.3 per cent at 5,435, while German DAX futures were up 1.3 per cent. US stock futures, the S&P 500 e-minis, were up 0.13 per cent and Nasdaq contracts climbed 0.4 per cent.
Perth Now
7 days ago
- Business
- Perth Now
Asian shares, Aussie dollar climb on market optimism
Shares in Asia have rallied and the Australian dollar has hit an eight-month high as optimism over earnings and trade supported demand for higher yielding assets. Tokyo's broad Topix gauge of shares hit an all-time high, following new records on Wall Street overnight, after a trade pact between Japan and the US stoked speculation more deals would appear soon to head off sweeping tariffs. Nasdaq and S&P futures rose after results by Google parent Alphabet beat estimates to kick off the "Magnificent Seven" earnings season. The US has also reached deals with the Philippines and Indonesia and an agreement with the European Union is also expected. "Worst case concerns about tariffs in the US are probably dissipating to some degree at the moment, but nonetheless, tariffs are going up and that is a hurdle for consumers," Brian Martin, ANZ's head of G3 economics, said in a podcast. The EU and US are closing in a trade deal that would impose 15 per cent tariffs on European imports, while waiving duties on some items, according to officials from the European Commission. Meanwhile, Treasury Secretary Scott Bessent said US and Chinese officials will meet in Stockholm next week. Second-quarter earnings season is underway in the US, with 23 per cent of the companies in the S&P 500 having reported. Of those, 85 per cent have beaten Wall Street expectations, according to LSEG data. Results from Magnificent Seven members, whose results have powered indexes to previous peaks, are in the spotlight for guidance on spending and returns surrounding artificial intelligence. Alphabet strongly beat estimates and cited massive demand for its cloud computing services as it hiked its capital spending plans. But electric car maker Tesla posted its worst quarterly sales decline in more than a decade and profit that trailed analyst targets. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent. Japan's Topix surged for a second day, rising 1.4 per cent to surpass its previous all-time high reached last year. The Australian dollar, a common proxy for risk sentiment, fetched $0.66, just off $0.6604 hit earlier, which was the highest since November 2024. The US dollar dropped 0.1 per cent to 146.38 yen. US crude climbed 0.4 per cent to $65.5 a barrel. Spot gold was traded at $3,390.84 per ounce, up 0.1 per cent. In early trades, pan-region Euro Stoxx 50 futures shot up 1.3 per cent at 5,435, while German DAX futures were up 1.3 per cent. US stock futures, the S&P 500 e-minis, were up 0.13 per cent and Nasdaq contracts climbed 0.4 per cent.
The Advertiser
03-07-2025
- Business
- The Advertiser
Australian shares dip as banks slip, while miners gain
The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday. The Australian share market has moved into the red as a rotation out of banking stocks and into the iron ore giants continues. At noon AEST on Thursday, the benchmark S&P/ASX200 index was down 31 points, or 0.36 per cent, to 8,566.7, while the broader All Ordinaries had slipped 27.9 points or 0.32 per cent, to 8,799.7. Just three of the ASX's 11 sectors were in the green at midday - health care, energy and materials. The latter was the biggest gainer, rising 2.1 per cent after China vowed to crack down on "disorderly low-price competition" in the steel industry and phase out some industrial capacity. "The move shows China's leaders are trying to tackle deflationary pressures weighing on the economy," ANZ researchers Brian Martin and Daniel Hynes wrote in a note. "The plans should also bring some relief to the steel industry, which has been weighed down by overcapacity." BHP was on track for its best day since April 10, rising 4.3 per cent to $38.81. Rio Tinto had advanced 1.5 per cent, Fortescue had climbed 0.9 per cent and Mineral Resources was up 5.7 per cent. In the energy sector, coalminers were ascendant, with Whitehaven gaining 9.4 per cent and New Hope advancing 6.1 per cent. But uranium plays were losing ground, with Boss Energy down 7.4 per cent, Bannerman sliding 5.8 per cent and Paladin subtracting 4.7 per cent. The big four banks were also mostly lower, with CBA declining 1.6 per cent, Westpac subtracting 1.0 per cent and NAB down 1.3 per cent. ANZ was the outlier, edging 0.2 per cent higher. In the consumer sector, Kmart owner Wesfarmers had declined 2.3 per cent, JB Hi Fi had dropped 5.6 per cent and Aristocrat Leisure had slipped 1.8 per cent. In health care, Pro Medicus had advanced 6.2 per cent after the medical imaging giant signed a $170 million, 10-year contract to provide services to a chain of 14 hospitals in Colorado, Wyoming and Nebraska. The Australian dollar was buying 65.69 US cents, from 65.70 US cents at midday on Wednesday.
