The Sectoral Pulse || Why Are The Oil Prices Volatile In May?

Hi, you are watching Kalkine TV live from Sydney. This is The Sectorial Pulse show by Kalkine TV – a special show covering all sectoral movements from the markets for the day.

• Among the stocks in news, we have Fisher & Paykel which is down by 8.6 per cent after withholding guidance following a bumper full year result. 

• Costa is the worst percentage performer by a wide margin, with the fruit grower slumping 23 per cent after updating shareholders on profit trends.

• AMP is up 3.8 per cent and Champion Iron is higher by 3.5 per cent.

• China’s industrial firms with annual revenue in excess of 20 million yuan rose 57 per cent year-on-year in April to 768.63 yuan billion.

• Reserve Bank of Australia (RBA) which is expected to reiterate that no tightening is likely before 2024 at its June policy meeting next week.

• Acting Premier James Merlino has announced Victoria will be entering a seven-day lockdown from 11.59pm tonight that is Thursday 27 May, until 11.59pm, Thursday 3rd of June.

•  Crowds have been banned from sporting events and people ordered to stay home except for work, exercise, shopping for essentials, providing care and getting vaccinated.

• Bernard Arnault, Chairman and CEO of LVMH, has an estimated net worth of US$186.3 billion, while Jeff Bezos is worth US$186 billion and Elon Musk is worth US$147.3 billion.

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