James Shugg, Senior Economist at Westpac, describes why tapering might not happen at all.» Read More
Sentiment in Asia turned cautious on Friday ahead of a key jobs report in the U.S. but Shanghai stocks rallied as investors cheered new measures by the Chinese central bank to open up its capital markets.
Lachlan Colquhoun, Head of Markets Analysis at East and Partners outlines how factors like cost-cutting are helping spur solid earnings results from Australia's 'big four' lenders.
Westpac, Australia's third-largest lender, posted a forecast-beating half-year profit on Friday, rewarding investors with a special dividend.
Asia's equity markets rose to fresh peaks on Tuesday, fueled by hopes of central bank stimulus but Japanese shares fell, weighed down by mixed economic data.
David Ellis, Head of Australian Banking Research at Morningstar Australasia says that despite modest credit growth, Australia's top lenders can generate solid earnings-per-share growth.
Data on Wednesday showing that inflation in Australia is well under control has created a buzz in markets about more interest rate cuts, with some analysts hoping for a move as early as next month.
A measure of Australian consumer confidence fell in April to end three months of solid gains, a reminder of how brittle the mood can be.
Australia's banks are cutting the cost of fixed-rate mortgages to their lowest in over two decades as a marked fall in funding costs and fierce competition combine to offer a glimpse of light.
Asian stocks closed mixed on Monday after Wall Street hit a five-year high in the previous session as strong economic data buoyed sentiment.
A measure of Australian consumer confidence pulled back in December as households fretted on the outlook for the economy and finances.
Nathan Bell, Research Director, Intelligent Investor thinks Australia's top banks are unlikely to raise fresh capital as that would impact dividends. He adds that cutting dividends is tantamount to heresy in Australia.
CANBERRA, Oct 12- Australian shares edged up 0.1 percent on Friday as gains in index-heavy mining stocks helped break a two-day run of losses, but the market still ended slightly down on the week. gained 0.9 percent to A $33.54 and major rival Rio Tinto Ltd rose 1.8 percent to A $56.40, helped by a rebound in iron ore prices.
SINGAPORE, Oct 10- Commodities trader Trafigura said on Wednesday it has raised $1.24 billion via a syndicated revolving credit- and term-loan facility. The funds will be used for general corporate purposes, a company spokesperson said.
WELLINGTON, Oct 9- New Zealand infrastructure investor Infratil Ltd is planning an issue of six year bonds, the company said on Tuesday. It said the offer would be in two parts, the first of NZ $25 million in November 2018 bonds, with oversubscriptions of up to NZ $50 million.
SYDNEY, Oct 5- Commonwealth Bank of Australia. CBA rival National Australia Bank Ltd earlier cut by the same quantum, the first of the big four lenders to partially pass on the rate cut from the Reserve Bank of Australia. A 25 percent basis points cut reduces monthly repayment on a A $300,000 loan by about A $50.
SYDNEY, Oct 5- Australia's National Australia Bank Ltd on Friday cut its variable mortgage rate by 20 basis points after the central bank dropped its benchmark rate by 25 basis points earlier this week. Mortgage rates are very sensitive in Australia where one-third of the population have a mortgage and banks draw criticism for not passing on the full cut.
MELBOURNE Oct. 5, 2012-- Standard& Poor's Rating Services said today that it has raised its ratings on 38 hybrid capital instruments issued by eight Australian banking groups and their subsidiary companies; and at the same time removed them from CreditWatch with positive implications, where they were placed on Sept. 7, 2012.
SYDNEY, Oct 4- Australian shares extended their gains by 0.3 percent on Thursday, hitting a 14- month high after banks offset losses in mining, as investors eyed further interest rate cuts in the wake of soft retail sales data. Top banks continued this week's post rate-cut gains, led by Westpac Banking Corp.
SYDNEY, Oct 4- Australian shares extended their gains by 0.3 percent on Thursday, hitting a 14- month high after banks offset losses in mining. Top banks continued this week's post rate-cut gains, led by Westpac Banking Corp.
MELBOURNE, Oct 4- Australian shares were up 0.2 percent on Thursday as banks rose while miners fell, with sentiment dented by soft retail sales figures for August and declines in oil and copper prices. Top banks continued this week's post rate-cut gains, led by a 1.2 percent rise in Westpac Banking Corp.