Australia’s markets experienced slight gains this week, with the ASX 200 finishing up 0.2%. Despite a rise in the unemployment rate to 4.1%, job growth has surpassed expectations for the third month in a row. This consistent job strength has raised speculation that the RBA may consider a rate hike at their August meeting. Read Post
Tax time is here again, and even for the financially savvy amongst us, tax time can still be daunting and a bit of a chore. However, with a little help it doesn’t have to be so stressful. Read Post
It’s that time of year where many Australians start to lodge Tax returns with the ATO. Here’s what you may need to know. Read Post
One of Australia’s Big Four banks has seen its shares hit a 52-week high despite an investigation into its bond trades. ANZ ($ANZ) shares hit a 52-week high on Wednesday, up 16 per cent in 2024 to $30.10 per share despite a week plagued by bad news.
Last Thursday the bank admitted to the Australian Office of Financial Management that its government bond figures had been incorrect. Read Post
The Australian equities market closed the week on a high note, with the ASX 200 up 1.8%, reaching a record close of 7,959.3 points. This surge was driven by positive US inflation and employment data, signalling potential interest rate relief in the US. Notably, the Commonwealth Bank of Australia overtook BHP to become the most valuable public company for the first time since November 2021. The week saw strong performances in eight out of the eleven major sectors, with Discretionary and Real Estate leading the gains. Utilities and Materials were the weakest performers. Read Post
Qantas Airways ($QAN) has come out steaming ahead this week on the Raiz platform, storming up the charts for a silver medal finish. The national airline has close to 8000 shares traded this week, an increase of 231 per cent which saw it move from sixth place last week to now second place. Reports have surfaced this week that ASIC has recently raised questions about certain price movements in the flying kangaroo shares last year. ASIC wrote to the ACCC about its timeline of investigation into the airline, to see if directors or executives knew about the investigation before it happened or before the drop in the share price. Despite these legal issues, it’s still a popular stock to own.
Australian equities closed the week on a positive note, with the ASX 200 gaining 0.7%. This performance was bolstered by strong showings in the Energy and Materials sectors, which rose by 4.1% and 3.3% respectively. The rally in commodities following a cooler-than-expected US ISM report contributed significantly to this rise. Read Post
The end of FY24 has led to some big movements in the top ten stocks at Raiz with some seeing a more than 200 per cent increase in shares traded.
Trading overall for the week was 36,363 which was a 10 per cent increase on the top 10 of the week prior. Leading the charge was Insurance Australia Group ($IAG) which stormed into third position with a 223 per cent increase in shares traded. The company hasn’t been seen in the top 10 for a few weeks now.
The rising cost of living is a reality many of us are facing today. From higher grocery bills to increased utility costs, managing our finances has become more challenging than ever. At Raiz, we understand these pressures and are here to support you with tools and features designed to make your financial journey easier and more rewarding.
This week saw Australian equities end in the red, with the ASX 200 down by 0.4%. The rise in monthly CPI to 4% in May, up from 3.6% in April, indicates little progress towards the Reserve Bank of Australia’s (RBA) target of 2-3% for the first half of 2024. This raises questions about the RBA’s next steps. Read Post
