Finance News Update, what you need to know

Posted on: June 6th, 2019 by
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The Australian dollar has moved past the US80 cent mark in response to a weaker greenback, and after the Federal Reserve suggested a slow series of rate rises, but likely not as early as June.


At 0630 AEST on Thursday, the local currency was trading at 80.20 US cents, up from 79.99 cents on Wednesday.

And the Australian share market looks set to open lower after Wall Street fell on news the US economy grew just 0.2 per cent in the first quarter.

At 0645 AEST on Thursday, the June share price index futures contract was down 41 points at 5,786.


WASHINGTON – The Federal Reserve has left open its timeframe for a rise in interest rates, following a winter slowdown that stalled US economic growth.

FRANKFURT – Inflation in Germany, Europe’s biggest economy, crept higher in April with consumer prices rising by 0.4 per cent year-on-year.

FRANKFURT – Euro area private sector loans, a gauge of economic health, have started growing again, suggesting the European Central Bank’s monetary policy is beginning to work.

OSLO – Norway’s state-owned pension fund, the world’s largest sovereign wealth fund, has reported a record quarterly return, owing primarily to the European Central Bank’s easing of monetary policy.

NEW YORK – Generic drug company Mylan has raised its bid for a second time for Perrigo, offering $US35.6 billion ($A44.44 billion) for the over-the-counter giant.

MOSCOW – Russia’s gas giant Gazprom says its net profits in 2014 plunged sevenfold over the previous year, weighed down by fallout from the Ukraine crisis and shrinking value of the rouble.

NEW YORK – MasterCard says its profit rose 17 per cent in the first quarter, as consumers across the globe spent more on their MasterCards.

MILAN – Car maker Fiat Chrysler returned to profit in the first quarter thanks to a 38 per cent jump in revenue in North America and modest growth in Europe.

WASHINGTON – Samsung regained the lead in the global smartphone market in the first quarter, as sales in emerging markets helped it overtake Apple, a research group says.

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