Latest news with #SkyNewsBusiness
Sky News AU
18 hours ago
- Business
- Sky News AU
CSL shares tank nearly 17 per cent in worst loss on record
Sky News Business Reporter Edward Boyd says pharmaceuticals company CSL suffered its 'largest loss on record', with about $21 billion wiped off its market cap. CSL was absolutely hammered on Tuesday, after the biotech's revenue came in below expectations and it announced job cuts. 'It's such an index heavyweight, its fall has reduced the ASX 200 today by about 63 points,' Mr Boyd said. 'It's now trading at its lowest level since 2019; it fell almost 17 per cent.'
Sky News AU
13-08-2025
- Business
- Sky News AU
ASX 200 down as Commonwealth Bank of Australia dives, despite posting four per cent profit jump in the past financial year
The ASX 200 and its largest company both sank on Wednesday despite the business posting strong profit and giving major dividends to its shareholders. The index fell 0.3 per cent in the first 50 minutes of trading. Its dropped as Commonwealth Bank of Australia fell 3.9 per cent, despite the banking giant revealing a four per cent profit jump to $10.25 billion for the 2025 financial year. The bank, which makes up 12 per cent of the ASX 200's value, also revealed a $2.60 per share dividend for the second half of the year, bringing its total FY25 dividend to $4.85 and paying $8 billion to shareholders. Sky News Business Reporter Ed Boyd said the bank's share price dip came amid concerns the major bank is overvalued. CBA's share price is down despite posting a solid profit jump. Picture:'It's because CBA is the most expensive bank in the world,' Boyd said on AM Agenda. 'It has a 30-times earnings valuation and clearly some investors think its profit wasn't as good as what they were expecting to justify a share price of almost $175.' While CBA took a hit on Wednesday, its competitors fared much better with ANZ rising 1.1 per cent and Westpac and NAB sinking 0.5 and 0.7 per cent respectively. AGL Energy is down 12.6 per cent after it revealed a 21.2 per cent profit drop amid lower wholesale power prices and strong competition. Penfolds-owner Treasury Wine Estates lifted about two per cent after reporting a 342 per cent profit lift thanks to booming sales in China. Meanwhile, Pilbara Minerals lost 4.6 per cent and Liontown Resources fell 3.9 per cent. On Wall Street, the Nasdaq lifted 1.4 per cent on Tuesday while the S&P 500 and the Dow Jones both climbed 1.1 per cent. London's FTSE 250 and Germany's DAX both fell 0.2 per cent as the STOXX Europe 600 rose 0.2 per cent. New Zealand's NZX 50 Index is up 0.7 per cent since trading began on Wednesday while Japan's Nikkei 225 added 0.9 per cent.
Sky News AU
07-08-2025
- Business
- Sky News AU
ASX plunges more than 8 per cent on Thursday following TPG blunder
Sky News Business Reporter Edward Boyd says the Australian stockmarket operator got smashed today – following the TPG blunder yesterday as it dropped more than 10 per cent at the open. 'The ASX also revealed this morning that it expects the ASIC inquiry is going to cost roughly $25 to 35 million dollars during the new financial year, to pay for things like legal expenses, additional resourcing and the establishment of a secretariat,' Mr Boyd said. ASX Limited finished down more than 8 per cent on Thursday.
Sky News AU
01-08-2025
- Business
- Sky News AU
ASX 200 drops sharply on Friday after setting new record high
Sky News Business Reporter Edward Boyd says the local market dropped sharply after setting a record high on Wednesday. 'Utilities were the only sector in the green,' Mr Boyd said. The ASX 200 finished down 0.92 per cent on Friday.
Sky News AU
16-07-2025
- Business
- Sky News AU
ASX 200 suffers worst one-day drop since May
Sky News Business Reporter Edward Boyd says the local market dropped sharply at the open on Wednesday morning – plunging 1 per cent in early trade. 'That's the biggest fall since May this year,' Mr Boyd said. 'Trump made his comments about introducing pharmaceutical tariffs a couple of hours before our market began trading – and it clearly had an immediate impact.' The ASX 200 finished the day down 0.79 per cent.
