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Australia 200 rebounds as rate cut expectations boost supermarket and real estate stocks
The Australia 200 index rose 38 points (0.48%) to 7957, poised for its best close in nearly two weeks, buoyed by supermarket stocks following ACCC findings. The real estate sector also gained amid expectations of an RBA rate cut in May, while the financial sector showed signs of recovery. Gold prices retreated from record highs, and Paladin's uranium operations were suspended due to heavy rainfall.
circular economy initiatives gain momentum among australian business leaders
The Australian Climate Leaders Coalition, backed by major companies like Microsoft, Nestlé, and Unilever, is advocating for a transition to a circular economy to reduce greenhouse gas emissions and boost GDP by AU$210bn by 2048. A report highlights the need for CEOs to embrace circularity beyond recycling, emphasizing integration into business strategies and collective action. Key capabilities for success include stakeholder management, enabling technologies, and behavioral engagement.
ASX 200 reaches new high fueled by US economic data and Fed comments
The ASX 200 reached a new milestone, surpassing 8500 points for the first time, driven by positive US economic data and dovish comments from Federal Reserve Chair Waller. Key sectors saw gains, with healthcare stocks like Ramsay Health Care rising 3.15% and technology stocks boosted by a record high in the Nasdaq 100. The market's upward momentum is supported by strong retail sales and improved manufacturing data from China.
collins foods faces economic challenges as earnings and dividends decline
Collins Foods reported a 6.6% decline in H1 underlying earnings and a 24% drop in net profit, leading to a reduced interim dividend of $0.11 per share. The market responded with a 3% share price drop, reflecting mixed investor sentiment amid ongoing economic pressures and inflation concerns. Analysts suggest a 'hold' strategy as the company faces challenges compared to peers like Domino's and Woolworths.
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