News

The European Central Bank has gone for stimulus as predicted, cutting its key rate to a record low​ (th​e main refinancing rate is now negative at -0.5%) and will restart bond purchases of €20 billion a month up to shortly before the next rate decision​.​

Wall Street was boosted by Apple, which once again hit the $US1 trillion market value level after it unveiled its latest range of product updates and also rolled out a streaming TV service at a price that undercuts Walt Disney and Netflix.

Across Australia and New Zealand we have seen some profit taking across companies such as Transurban, Sydney Airport, and the power gen-tailers after a very strong run.

Global markets ​were mixed overnight as stocks took a breather after a solid bounce last week.

Global markets ​moved between small gains & losses on Friday as investors digested a mixed US jobs report and bet on a Federal Reserve interest rate cut this month, while China’s stimulus plan helped ease some concerns around global growth.

Global markets ​surged higher overnight after a raft of data bolstered confidence in the American economy and trade tensions eased. ​

Political tensions appeared to subside in Hong Kong, after embattled leader Carrie Lam said she formally withdrew legislation to allow extraditions to China, the detonator for three months of often-violent protests.

US stocks fell as data showed US factory activity shrank for the first time since 2016 in August.

​Property markets across Australia & NZ are showing signs of stabilisation, with factors such as lower interest rates, more relaxed regulations by APRA, and a surprise Australian election outcome contributing to positivity.