Money News

Insignia Financial leapt after a $3.3 billion takeover by private equity firm CC Capital.

MARKET WRAP:

• ASX200: up 0.1% to 8,677
• GOLD: $3,385/oz
• BITCOIN: $181,877

• Rio Tinto jumped 3.4 per cent to $118.32, Fortescue 3.3 per cent to $17.81 and BHP gained 2.6 per cent to $41.51 per cent.
• Shares of Ramelius surged 8.1 per cent to $2.66 – its best day in 15 weeks, while Newmont gained 2.8 per cent to $92.
• CBA slumped 3.1 per cent to $172.42, wiping roughly 30 points from the index due to its market heft.
• National Australia Bank falling 2.7 per cent to $37.22, Westpac 1.3 per cent to $32.65 and ANZ closed down 0.8 per cent to $29.82.
• Insignia Financial was the best performer on the ASX 200, surging 12.2 per cent to $4.41 after CC Capital agreed to a $3.3 billion deal

CURRENCY UPDATE:

• AUD/USD: 65.2 US cents
• AUD/GBP: 48.4 British pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 96 Yen
• AUD/NZD: 1.09 NZ dollars

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As the government looks to get the economy rolling again, what can it do to stimulate private investment?

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The Reserve Bank Minutes from its July meeting revealed that tariffs & the labour market were stopping the board from pulling the trigger on another rate cut.

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Parliament returns with HECS and superannuation changes at the top of the pile; AMP sees the money inflow; iron ore prices lift; Godzilla the next world to build?; taking apart the PR problems with ‘Coldplaygate’; and Elio D’Amato joins us for the Market Wrap

Host: Evan Lucas

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

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'Coldplaygate’ could be the story of the year, but a trip to a concert has turned into a PR nightmare for one US company.

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Iron ore prices have lifted to the highest point since February, so will this spark a good run for the miners?

MARKET WRAP:

• ASX200: down 1.02% to 8,668
• GOLD: $3,364/oz
• BITCOIN: $182,070

• Commbank & ANZ both lost 2.5%, Westpac was down 3.6%, while NAB was 2.4% lower.
• Insignia Financial was also on the slide, down 6.2% to $3.93 after it told investors talks were ongoing with CC Capital.
• While other big fallers included Aristocrat, Pro Medicus and Coles.
• AMP delivered a positive quarterly super net cashflows for the first time since 2017. Shares finished almost 10% higher to $1.68.
• Block – the owner of BNPL service Afterpay – saw its shares soar over 11% after news that it would be added to the S&P 500 Index.
• Iron ore futures climbed to over $104 US a tonne sent BHP, Fortescue and Rio Tinto all climbing

CURRENCY UPDATE:

• AUD/USD: 65.2 US cents
• AUD/GBP: 48.4 British pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 96 Yen
• AUD/NZD: 1.09 NZ dollars

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The Albanese government will look to pass legislation on students loans, but is it superannuants who will be paying the price for it?

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The new records of Friday for the market were wiped off by the end of Monday's trade, with the financial sector hurting the hardest.

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The Australian sharemarket reset its record high for the second time this week after an unexpected tick up in the unemployment rate to 4.3 per cent bolstered bets for an interest rate cut from the RBA next month.

Host: Scott Haywood

Executive Producer: Nelson Scott

Technical Producer: Liam Achurch

Publisher: Nine Radio

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Scott follows up with BB Millinery’s auction to raise money for the victims of the NSW floods

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