Money News

A significant order for defence industry company Droneshield saw it rocket on the market today.

• ASX200: up 0.04% to 8,559
• GOLD: $3,328 US/oz
• BITCOIN: $164,675 AUD

• CBA shares reaching a new intraday high above $192 eventually closing up 1.7% to $191.40.
• Droneshield signed a new contract in Europe worth more than $60 million. Shares were boosted 20% to $2.14.
• Virgin Australia continued to soar, rising by another 3.4% on its second day of trading to close at $3.34.
• BHP fell 1%, Fortescue was down 2.3%, but Rio recovered from earlier losses to only drop 0.6% to $104.30
• Gold miners Northern Star Resources, Evolution Mining, and Newmont all took a hit.

CURRENCY:

• AUD/USD: 65.0 US cents
• AUD/GBP: 47.7 pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 94 Japanese yen
• AUD/NZD: 1.08 NZ dollars

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Australian inflation drops unexpectedly to 2.1%, prompting calls for rate cuts sooner; a slowdown in Chinese EV production; Xero makes a big purchase; sorting your super before EOFY; Aldi still reigns supreme as the cheapest supermarket; and Carl Capolingua joins us for the Market Wrap.

Host: Scott Haywood

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

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Australia’s inflation rate has dropped to 2.1% for the 12 months to May, putting the chance of a rate cut in July on the table.

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A fall in fruit & housing prices saw a shock monthly inflation result, which sets the tone for the Reserve Bank to cut rates sooner than expected.

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Markets breathe a sigh of relief as ceasefire talk drops the oil price; Virgin relists on the ASX; NSW & Qld state budgets drop with more debt & deficit; KFC loves teen customers; the outlook for small businesses as the new financial year closes in; and Henry Jennings joins us for the Market Wrap.

Host: Deb Knight

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

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The business outlook continues to be hampered by economic conditions, but with the new financial year just around the corner, the tides might be shifting.

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Virgin has successfully re-listed on the ASX, but will this IPO bring more companies towards listing on the market again?

MARKET WRAP:

• ASX200: up 0.95% to 8,555
• GOLD: $3,327 US/oz
• BITCOIN: $161,587 AUD

• BHP rose 2.4%, Fortescue up 4.8%, and Rio Tinto was just over 3% higher.
• Commbank up 2.1%, NAB up 2.2%, Westpac 2.6% higher and ANZ rising 1.4%.
• Virgin’s IPO was welcomed by investors, the price rising more than 11% from its initial point of $2.90 to $3.23
• Qantas shares up another 2.4% to $10.32.
• Greatland Resources climbing 44% to $7.30 by the close
• Wisetech Global up 2.5% and Pro Medicus up 2.6%
• Woodside fell 6.5%, Santos dropped 1.5%, and Viva Energy fell 3.2%.
• Origin Energy was 2.5% lower, with APA Group falling 1.7% – as it also announced its dividend.
• Treasury Wine Estates took a tumble of 0.9%

CURRENCY UPDATE:

• AUD/USD: 65 US cents
• AUD/GBP: 47.8 pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 94 Japanese yen
• AUD/NZD: 1.08 NZ dollars

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State budgets have been consumed with infrastructure spending, sending them into deficit and paying off large debts.

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The ASX gained 1% in trade after news of a ceasefire between Iran and Israel sent a wave of confidence through the market.

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The markets wait for any news out of Iran following an attack by the US; the oil price spikes; looking at the defence stocks that may benefit; the rise of the ‘infinite workday’; Australia Post to raise prices; Metcash loses sales of tobacco; how to save $7000 this end of financial year; and Di Colledge joins us for the Market Wrap

Host: Scott Haywood

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

See omnystudio.com/listener for privacy information.