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Business news
Canada’s TSX Composite index could retreat to C$19,200
June 24, 2023 12:24 AM AEST| By InvezzCanadian stocks are underperforming their American peers as commodity prices retreat. The closely-watched S&P/TSX Composite index dropped to a low of $19,572 on Friday, meaning it has fallen by over 6% from the highest level this year. In contras...
Anglo American, Glencore, Rio Tinto share prices tumble as commodities sink
June 23, 2023 11:55 PM AEST| By InvezzThe commodities supercycle that happened during the pandemic has faded as concerns about China’s recovery ease. As a result, most commodiy prices have dropped in the past few months. The closely-watched Invesco Commodity Index Tracking Fund (DB...
Swiss Market Index (SMI) best and worst constituents of 2023
June 23, 2023 09:33 PM AEST| By InvezzThe Swiss Market Index (SMI) rose for the second straight day as investors react to the latest decision by the Swiss National Bank (SNB). The index jumped to a high of SFR 11,235, which was a few points above this week’s low of SFR 11,080. SNB...
Nifty 50 index analysis as the Adani share price dips again
June 23, 2023 08:55 PM AEST| By InvezzThe Nifty 50 index recoiled on Friday as investors reflected on the minutes of the Reserve Bank of India (RBI). The index retreated to a low of ₹18,715, which was a few points below the year-to-date high of ₹18,888. Despite the decline, t...
Here’s why the ASX 200 index just suffered a harsh reversal
June 23, 2023 06:55 PM AEST| By InvezzThe S&P/ASX 200 suffered a harsh reversal on Friday as investors reacted to the sinking crude oil and commodity prices. After soaring to A$7,400 this week, the index plunged to a low of A$7,115. In all, the index has retreated by more than 6.40%...
Euro tumbles on disappointing Eurozone flash PMIs, economic activity contraction
June 23, 2023 06:54 PM AEST| By InvezzDisappointing Eurozone data sends the euro lower across the dashboard. Earlier today, the Eurozone manufacturing and services PMIs were released, and both came out worse than expected. The weakness in the manufacturing sector is worrying. The market...
UK retail sales dips again as the cost of living crisis escalates
June 23, 2023 04:20 PM AEST| By InvezzUK retail sales dropped at a slower pace in May as the cost of living crisis continued. According to the Office of National Statistics, retail sales rose by 0.3% in May after growing by 0.5% in the previous month. This growth translated to a year-on-...
Employees of a key Boeing supplier to begin strike on Saturday
June 23, 2023 06:04 AM AEST| By InvezzBoeing Co (NYSE: BA) doesn’t seem to catch a break. On Thursday, Spirit AeroSystems Holdings Inc (NYSE: SPR) – its key supplier paused manufacturing at its Wichita factory. Why did Spirit AeroSystems halt production? The aerostructures co...
Darden reports a slowdown in fine dining: ‘I think this segment will remain strong’
June 23, 2023 01:44 AM AEST| By InvezzDarden Restaurants Inc (NYSE: DRI) is slightly in the red this morning even though it reported a strong fourth quarter and issued upbeat future guidance. Why is Darden stock down today? Investors are still disappointed because the company said its co...
Luckin Coffee stock price: risk-reward favourable as wedge forms
June 23, 2023 01:10 AM AEST| By InvezzLuckin Coffee stock price has been a strong underperformer this year even as the company implements its turnaround. It has slipped by more than 33% from its highest level this year, meaning that it is in a bear market. In all, the stock has lost ~15%...
As JEPI and JEPQ ETFs gain traction, are they good income investments?
June 23, 2023 01:08 AM AEST| By InvezzCovered call ETFs are becoming extremely popular among investors. Data shows that investors have poured over $10 billion in JPMorgan Equity Premium Equity Income ETF (JEPI), bringing its total assets to more than $28 billion. Similarly, JP Morgan Nas...
Amazon may soon acquire the British online grocer Ocado Group
June 23, 2023 12:41 AM AEST| By InvezzShares of Ocado Group PLC (LON: OCDO) jumped about 40% today after “The Times” said Amazon.com Inc (NASDAQ: AMZN) may be interested in buying the online grocer. Amazon refused to comment on the report The report did also suggest that it w...
Ocado share price spiked: 3 reasons acquirers should avoid it
June 22, 2023 10:24 PM AEST| By InvezzOcado (LON: OCDO) share price jumped by more than 40% on Thursday as investors cheered rumours of a potential bid for the company. It surged to a peak of 630p, the highest level since November last year and then pulled back to 570p. At its peak...
Sea of red as Lloyds, Barclays, HSBC, share prices dip after BoE
June 22, 2023 09:34 PM AEST| By InvezzUK bank stocks continued their sell-off after the Bank of England (BoE) delivered a bigger rate hike than expected. The bank hiked by 50 basis points and pushed the official lending rate to 5%, the highest level in more than a decade. As I wrote here...
USD/PHP: Philippine peso supercharged after the rate decision
June 22, 2023 09:30 PM AEST| By InvezzThe USD/PHP exchange rate is on track for the second week of declines after the Philippine central bank delivered its interest rate decision. The pair retreated to a low of 55.57, the lowest level since May 9th. In all, the pair has dropped by 1.65%...
DIVO vs SCHD: One is a better dividend ETF
June 22, 2023 07:45 PM AEST| By InvezzThe Amplify Enhanced Dividend (DIVO) and Schwab US Dividend Equity ETF (SCHD) are popular ETFs among retirees and income-focused investors. The two have a dividend yield of 4.74% and 3.63%, respectively, higher than that of SPY and QQQ. This article...
Pound to Indian rupee (GBP/INR) is ripe for a breakout: is it a buy?
June 22, 2023 07:20 PM AEST| By InvezzThe GBP to INR exchange rate soared to the highest level since 2021 ahead of the upcoming interest rate decision by the Bank of England (BoE). The pair soared to a high of 105.22, meaning that sterling has jumped by over 22% from the lowest level in...
Bank of England – go big or go home
June 22, 2023 05:07 PM AEST| By InvezzLater today, the Bank of England will present its monetary policy decision. Following the inflation report released earlier in the week, the pressure mounts for the central bank to do more than the market expects. The consensus is that the Bank of En...
Should you buy or sell the Swedish krona as it drops to a record low against the euro?
June 21, 2023 11:29 PM AEST| By InvezzGiven the euro area’s challenges, the European common currency (EUR) is remarkably resilient. It trades at 1.09 against the US dollar and gains ground against other rival currencies. In some specific cases, the euro’s strength is even mor...
As the NatWest share price moves to a bear market, is it a buy?
June 21, 2023 09:58 PM AEST| By InvezzNatWest (LON: NWG) share price has been in a strong bearish trend in the past few months as concerns about the UK economy continued. The stock retreated to a low of 236.60p on Wednesday, the lowest level since November 2022. US government bond crisis...
