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Market Wrap AM

AAP  |  TUESDAY, 2 DEC 2014
... slowdown in Chinese growth, and hence oil demand, added to downward pressure on oil prices. Among the biggest fallers at the close of trading in London were Tullow Oil, which sank 5.99 per cent to 400.50 pence and miner BHP Billiton, which lost 2.18 ...

Magellan expands chairman role, appoints CIO

JAMES FERNYHOUGH  |  MONDAY, 1 DEC 2014
Magellan Financial Group has shifted Brett Cairns from the role of non-executive chairman to that of executive chairman, effective 1 January 2015. Cairns will also be appointed chairman of the group's main operating subsidiary Magellan Asset Management ...

From oil at US$300 to oil at US$30

BENJAMIN ONG  |  MONDAY, 1 DEC 2014
... consciousness. Brent oil prices peaked at US$115.06 a barrel on 23 June. They've sank by 35.3% to US$74.40 as at last Friday's close. WTI oil prices peaked at US$106.83 per barrel on 20 June. They've dropped by 38.1% as at last Friday's close. I googled ...

Market Wrap AM

AAP  |  MONDAY, 1 DEC 2014
... Asian share markets were mixed because cheaper oil means lower import costs. Sydney sank 1.63 per cent, or 87.9 points, to close at 5,313.0 and Seoul was flat, edging down 1.31 points to 1,980.78. Shanghai rallied 1.99 per cent, or 52.35 points, to 2,682.84 ...

Market wrap

AAP  |  FRIDAY, 28 NOV 2014
The Australian share market has opened sharply lower as oil stocks were pummelled following OPEC's decision not to cut production. Oil prices have sunk to fresh four-year lows, with New York crude tumbling below $US70 after the OPEC oil cartel held ...

Market Wrap AM

AAP  |  FRIDAY, 28 NOV 2014
... Countries (OPEC) decision on quotas and after an unexpected drop in Chinese industrial profits. Coming in at its highest close in more than three years, the benchmark Shanghai Composite Index gained 1.00 per cent, or 26.15 points, to 2,630.49 on turnover ...

Market Wrap AM

AAP  |  THURSDAY, 27 NOV 2014
... 17,383.58 but Sydney rallied 1.15 per cent, or 61.4 points, to 5,396.2 and Seoul was slightly higher, edging up 0.63 points to close at 1,980.84. Hong Kong added 1.12 per cent, or 268.07 points, to 24,111.98 and Shanghai gained 1.43 per cent, or 36.74 ...

Market Wrap AM

AAP  |  WEDNESDAY, 26 NOV 2014
... also down 28.1 points, or 0.53 per cent, at 5,320.9 points. NEW YORK - The Dow Tuesday edged to its fourth straight record close following a choppy session and a deluge of mixed US economic data. At the closing bell, the Dow Jones Industrial Average ...

Market Wrap AM

AAP  |  TUESDAY, 25 NOV 2014
... on Monday, the Dow Jones Industrial Average stood at 17,817.06, up 7.00 points (0.04 per cent), its third straight record close. The S&P 500 gained 5.96 (0.29 per cent) to 2,069.46, its second straight record, while the tech-rich Nasdaq Composite Index ...

Standard Life Inv strengthens strategy team

MARK SMITH  |  MONDAY, 24 NOV 2014
Global investment manager Standard Life Investments has bolstered its global strategy team with the appointment of two executives. Chris Faulkner-MacDonagh joins as market strategist and Alex Wolf has been appointed as emerging markets economist. Both ...