Latest news with #TreasuryWineEstates
Yahoo
3 days ago
- Business
- Yahoo
ASX has best month since January
Australia's sharemarket rose for the second consecutive month in May, as traders dial up the chances of a rate cut in July following weaker than expected retail sales. The benchmark ASX 200 index gained 24.90 points or 0.30 per cent on the final day of trading for May. Australia's major index has closed up 3.8 per cent in May which is the best monthly gain since January. Meanwhile the broader All Ordinaries also finished higher up 22.50 points or 0.26 per cent to finish the month at 8,660.30. The Australian dollar slipped 0.28 per cent during Friday's trading and is now buying 64.26 US cents. On an overall positive day for the market, seven of the 11 sectors finished in the green, led by consumer staples, utilities and financials. The bounce in consumer staples was led by Treasury Wine Estates up 4.07 per cent to $8.44, while the A2Milk Company rose 3.35 per cent to $8.33. The two major supermarkets also finished in the green, with Woolworths gaining 0.70 per cent to $31.85 while Coles eked out a gain of 0.28 per cent to $21.60. All four of the major banks also finished higher during Friday's trading. Westpac led the charge gaining 2.68 per cent to $32.56, NAB gained 1.33 per cent to $38.00, CBA jumped 0.87 per cent to $175.95 and ANZ finished higher up 0.41 per cent to $29.04. The gains come despite other Asian markets slumping on the back of the White House winning an administrative stay on the blockage of most of its tariffs by the US Court of International Trade. senior financial market analyst Kyle Rodda said the US market gave back its gains after the tariff news was announced. 'The caution reflects the fact that although market sentiment has been supported by the prospect of the judiciary halting arguably Presidential overreach with tariffs and trade policy, the decision marks the beginning of a new source of uncertainty rather than the total closure of another,' he said. Australia's sharemarket however was lifted on the back of weaker than expected retail sales. While this is bad for some businesses, the money markets factored in a greater chance of a rate cut in July following the announcement that retail sales fell 0.1 per cent over the month of April compared with expectations of a 0.3 per cent rise. AMP chief economist Shane Oliver said the results were surprising given Queensland was coming off a low base due to ex-Cyclone Alfred as well as most Aussies benefiting from a double Easter/Anzac Day long weekends. 'Tax and rate cuts will help but the consumer is still clearly struggling with real retail sales per person trending down so far this year after a mild rise into late last year,' he wrote in an economic note. 'The cost of living remains a problem – falling inflation is not the same thing as falling prices.' In company news, Ramsay Health Care jumped 5.89 per cent to $38.30 on the back of reports in the Newcastle Herald claiming the Australian hospital operator won approval of its new building applications in NSW. Shares in fintech Findi slumped 8.91 per cent $4.60 despite reporting a 54 per cent gain in underlying profits to $6m. Sign in to access your portfolio
West Australian
3 days ago
- Business
- West Australian
Weak retail sales boost rate cut hopes as ASX climbs on Friday
Australia's sharemarket rose for the second consecutive month in May, as traders dial up the chances of a rate cut in July following weaker than expected retail sales. The benchmark ASX 200 index gained 24.90 points or 0.30 per cent on the final day of trading for May. Australia's major index has closed up 3.8 per cent in May which is the best monthly gain since January. Meanwhile the broader All Ordinaries also finished higher up 22.50 points or 0.26 per cent to finish the month at 8,660.30. The Australian dollar slipped 0.28 per cent during Friday's trading and is now buying 64.26 US cents. On an overall positive day for the market, seven of the 11 sectors finished in the green, led by consumer staples, utilities and financials. The bounce in consumer staples was led by Treasury Wine Estates up 4.07 per cent to $8.44, while the A2Milk Company rose 3.35 per cent to $8.33. The two major supermarkets also finished in the green, with Woolworths gaining 0.70 per cent to $31.85 while Coles eked out a gain of 0.28 per cent to $21.60. All four of the major banks also finished higher during Friday's trading. Westpac led the charge gaining 2.68 per cent to $32.56, NAB gained 1.33 per cent to $38.00, CBA jumped 0.87 per cent to $175.95 and ANZ finished higher up 0.41 per cent to $29.04. The gains come despite other Asian markets slumping on the back of the White House winning an administrative stay on the blockage of most of its tariffs by the US Court of International Trade. senior financial market analyst Kyle Rodda said the US market gave back its gains after the tariff news was announced. 'The caution reflects the fact that although market sentiment has been supported by the prospect of the judiciary halting arguably Presidential overreach with tariffs and trade policy, the decision marks the beginning of a new source of uncertainty rather than the total closure of another,' he said. Australia's sharemarket however was lifted on the back of weaker than expected retail sales. While this is bad for some businesses, the money markets factored in a greater chance of a rate cut in July following the announcement that retail sales fell 0.1 per cent over the month of April compared with expectations of a 0.3 per cent rise. AMP chief economist Shane Oliver said the results were surprising given Queensland was coming off a low base due to ex-Cyclone Alfred as well as most Aussies benefiting from a double Easter/Anzac Day long weekends. 'Tax and rate cuts will help but the consumer is still clearly struggling with real retail sales per person trending down so far this year after a mild rise into late last year,' he wrote in an economic note. 'The cost of living remains a problem – falling inflation is not the same thing as falling prices.' In company news, Ramsay Health Care jumped 5.89 per cent to $38.30 on the back of reports in the Newcastle Herald claiming the Australian hospital operator won approval of its new building applications in NSW. Shares in fintech Findi slumped 8.91 per cent $4.60 despite reporting a 54 per cent gain in underlying profits to $6m.
Perth Now
3 days ago
- Business
- Perth Now
ASX has best month since January
Australia's sharemarket rose for the second consecutive month in May, as traders dial up the chances of a rate cut in July following weaker than expected retail sales. The benchmark ASX 200 index gained 24.90 points or 0.30 per cent on the final day of trading for May. Australia's major index has closed up 3.8 per cent in May which is the best monthly gain since January. Meanwhile the broader All Ordinaries also finished higher up 22.50 points or 0.26 per cent to finish the month at 8,660.30. The Australian dollar slipped 0.28 per cent during Friday's trading and is now buying 64.26 US cents. The ASX had its best month since May. NewsWire / Jeremy Piper Credit: News Corp Australia On an overall positive day for the market, seven of the 11 sectors finished in the green, led by consumer staples, utilities and financials. The bounce in consumer staples was led by Treasury Wine Estates up 4.07 per cent to $8.44, while the A2Milk Company rose 3.35 per cent to $8.33. The two major supermarkets also finished in the green, with Woolworths gaining 0.70 per cent to $31.85 while Coles eked out a gain of 0.28 per cent to $21.60. All four of the major banks also finished higher during Friday's trading. Westpac led the charge gaining 2.68 per cent to $32.56, NAB gained 1.33 per cent to $38.00, CBA jumped 0.87 per cent to $175.95 and ANZ finished higher up 0.41 per cent to $29.04. The gains come despite other Asian markets slumping on the back of the White House winning an administrative stay on the blockage of most of its tariffs by the US Court of International Trade. senior financial market analyst Kyle Rodda said the US market gave back its gains after the tariff news was announced. 'The caution reflects the fact that although market sentiment has been supported by the prospect of the judiciary halting arguably Presidential overreach with tariffs and trade policy, the decision marks the beginning of a new source of uncertainty rather than the total closure of another,' he said. Seven of the 11 sectors finish in the green. NewsWire / Max Mason-Hubers Credit: News Corp Australia Australia's sharemarket however was lifted on the back of weaker than expected retail sales. While this is bad for some businesses, the money markets factored in a greater chance of a rate cut in July following the announcement that retail sales fell 0.1 per cent over the month of April compared with expectations of a 0.3 per cent rise. AMP chief economist Shane Oliver said the results were surprising given Queensland was coming off a low base due to ex-Cyclone Alfred as well as most Aussies benefiting from a double Easter/Anzac Day long weekends. 'Tax and rate cuts will help but the consumer is still clearly struggling with real retail sales per person trending down so far this year after a mild rise into late last year,' he wrote in an economic note. 'The cost of living remains a problem – falling inflation is not the same thing as falling prices.' In company news, Ramsay Health Care jumped 5.89 per cent to $38.30 on the back of reports in the Newcastle Herald claiming the Australian hospital operator won approval of its new building applications in NSW. Shares in fintech Findi slumped 8.91 per cent $4.60 despite reporting a 54 per cent gain in underlying profits to $6m.
Sydney Morning Herald
15-05-2025
- Business
- Sydney Morning Herald
ASX rises for seventh day in a row as banks, tech shares rally
The laggards Treasury Wine Estates, the maker of Penfolds wines, fell 5.2 per cent after it announced chief executive Tim Ford would step down later this year, ending a five-year stint in the role. He will be replaced by Sam Fischer, the chief executive of New Zealand drinks producer Lion. Loading Lendlease fell 1.6 per cent after the Australian property giant said it was in the late stages of inking a 50/50 joint venture with King Charles' property company The Crown Estate, in the United Kingdom. The $3.8 billion ASX-listed property developer responded to media speculation on Thursday saying it was in negotiations with the King's company over six projects that are part of its UK development portfolio. A slide in iron ore prices sent big miners lower. Fortescue fell 1.1 per cent while BHP slumped 0.7 per cent and Rio Tinto fell 0.4 per cent. The lowdown As investors await a potential interest rate cut next week, the Australian Bureau of Statistics on Thursday said the unemployment rate was unchanged at 4.1 per cent in April, while the number of employed people shot up by 89,000 in the month, beating the market's expectations. The number of unemployed people also increased by 6000 in the month. The Australian dollar strengthened slightly after the result, and was trading at US64.40¢ at 4.52pm AEST. Economists believe the strength of the labour market will be a key influence on how deeply the Reserve Bank cuts interest rates, with markets tipping a likely cut next week. Senior APAC economist for Capital Economics Abhijit Surya said the ABS data suggested the labour market remained 'very tight'. While he tipped a rate cut from the Reserve Bank of Australia (RBA) next week, the research house argues the central bank will only cut the cash rate to a low point of 3.6 per cent this cycle – which is higher than what most economists expect. 'With the labour market going from strength to strength, we're more convinced than ever that the RBA will be reluctant to cut rates aggressively,' Surya said. On Wall Street, a choppy day of trading ended with a mixed finish for stock indexes on Wednesday, as gains by several big technology stocks helped temper losses. Loading The S&P 500 edged up 0.1 per cent after wavering between small gains and losses much of the day. Most of the stocks in the index lost ground, but solid gains for several heavyweight technology companies such as Nvidia helped counter a decline in healthcare and other sectors. The Dow Jones slipped 0.2 per cent, while the Nasdaq composite rose 0.7 per cent. Super Micro Computer surged 15.7 per cent after signing a partnership agreement with Saudi Arabian data centre company DataVolt. Advanced Micro Devices gained 4.7 per cent after announcing a $US6 billion ($9.3 billion) stock buyback program. Nvidia rose 4.2 per cent and Google parent Alphabet added 3.7 per cent. Other big gainers included eToro Group, a retail trading platform for stocks and cryptocurrency. It rose 28.8 per cent in its first day of trading. The market has been relatively steady since its surge on Monday, which came after the US and China entered a 90-day pause in their trade war. The market gained some more ground on Tuesday after the government reported that inflation unexpectedly cooled across the country in April. Additional updates on inflation and retail sales are expected on Thursday. The benchmark S&P 500 Index, which sits at the centre many 401(k) accounts, has erased all its losses since US President Donald Trump escalated his global trade war in early April. It has now also erased its losses for the year and is back to within 4.1 per cent of its all-time high set in February.
AU Financial Review
15-05-2025
- Business
- AU Financial Review
Penfolds owner Treasury Wines poaches new CEO from Lion
Treasury Wine Estates has poached Sam Fischer, boss of beer and spirits group Lion, to be its new chief executive, replacing company veteran Tim Ford, as the business pivots to focus on its premium Penfolds brand. Fischer has been at the helm of Lion, owned by Japanese giant Kirin, for the past three years, overseeing beer brands including Tooheys, XXXX Gold, and West End. He has also been a non-executive director with luxury goods and fashion company Burberry Group since 2019.
