ASX 200 live: Lynas. Iluka rise; TPG's big cash return; CBA flags $130m in provisions
Welcome to the Trading Day blog for Tuesday, August 5. The ASX 200 index is 1 per cent higher at 8747 points at 10.45am AEST with all sectors in the green.
On Wall Street, the three major indexes enjoyed their biggest daily gains since May. The Dow Jones index rose 1.3 per cent, snapping a five-session losing streak. The technology-focused Nasdaq index rose 2 per cent, while the S&P 500 climbed 1.5 per cent.
Cryptocurrency giant bitcoin is just under $US114,900.
The Aussie dollar is trading around US64.74c. Canberra flags rare earths price floor to counter China Trading Day
Independent valuations underpin Soul Patts-Brickworks merger support. Endeavour chair quits over 'disagreements'. Billionaire Lederer's play for Elanor. BlueScope leads Whyalla Steelworks bid. Trading Day
Australia gets baseline 10 per cent US reciprocal tariff. ResMed beats earnings forecasts. Major companies brace as pandora's box on tax reform opens. Clock ticks for Star on $41m payout to HK partners, debt deal and costs after failed talks.
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News.com.au
an hour ago
- News.com.au
Weekend auction wrap: Sydney family smashes neighbour's record
A home in Sydney's northwest has sold for a suburb record, smashing the price paid for a home owned by the neighbours - the previous highest price in the area. The property on Anthony Rd sold for $4.7 million, setting a new record for a house sale in West Ryde. The auction saw the sellers pcoket a price $300,000 above their $4.4 million reserve. It has come amid rising auction activity that suggests Sydney is due another round of stellar growth in home prices. Auction clearance rates have been above 70 per cent for weeks, with preliminary figures showing nearly three quarters of auctions last week produced a sale. Historically, this kind of success rate over successive weeks has coincided with widespread price rises. Pello Northern Suburbs sales agent Michael Dowling said the West Ryde auction was 'really competitive' with bidding starting at $3.8 million. 'The previous highest sale in West Ryde was the house next door, and that sold for $4.19 about two years ago,' he said. 'So we knew it was going to be better than that, but I didn't think it was going to be $510,000 better than that.' Mr Dowling said the home sold to a mother and two sons moving from Cheltenham who wanted a more spacious home that was ready to move in to. 'A lot of people in our area want that move-in ready feel, rather than going through the hassle and the inconvenience of dealing with council,' he said. 'A lot of people just want that finished product now.' Based on results received so far, about 75 per cent of Sydney auctions were successful last week. Auction clearance rates above 70 per cent have historically correlated with rises in prices across the Sydney market as a whole. Ray White NSW head of auctions Dave McMahon said the first weekend of August saw a 25 per cent decrease in scheduled auctions from the week prior. 'The notable difference was that only half of them proceeded through the day,' he said. 'With stock levels low, agents have been more open to entertaining offers prior with circa 15-20 per cent selling before auction day. 'Despite lower auction numbers today, we continued to see spirited competition from buyers with an average of 5.8 registered and 3.6 actively bidding.' Two auctions hosted by Scerri Auctions auctioneer Fadi Hajjar on Friday were moved inside to Saliba Estate Agents' offices in order to get bidders out of the rain. 'The decision to move it in-room was brilliant,' Mr Hajjar said. 'It created a really warm environment for bidders.' The homes under the hammer on King Rd, Hornsby and Kooringal Ave, Thornlie sold for prices well over their respective reserves. The property on King Rd sold for $2.095 million, a price $195,000 over reserve, while 78 Kooringal Ave sold for $2.395 million, $295,000 above its reserve. Mr Hajjar said it was a 'hesitant start' to the bidding, before they 'heated up very quickly.' Fifty-six bids were placed for 78 Kooringal Ave and a staggering 117 bids were placed during the auction for 8 King Rd. MORE: Pub baron's lavish lifestyle while owing $1bn criticised Further out west, a family were reported to be delighted with the sale of their property in Hassall Grove. No. 33 Monica Ave sold over reserve for a price of $1.015 million, with bidding opening at $800,000. Sales agent Meshel Bahnam of Ray White United Group said there were 17 registered bidders, the most he has seen in 'well over 18 months'. 'People are trying to buy before rates change this month,' she said. 'In the end, local first home buyers who have been looking for six months bought the house. 'They are so happy as they keep missing out on auctions,' said Mr Banham. Mr Banham said it was a suburb record price for a three-bedroom, one-bathroom house on a 454 sqm block. Sellers Brooke, Alex and their three children were reported to be contemplating a move to Lake Macquarie for a lifestyle change. Other sales included the auction for 50 Iandra Street, Concord West, which sold to its first bidder, going for a price of $3.51 million. Horwood Nolan founder and director Ben Horwood said interest was strong in the lead up to the auction. 'We had three registered bidders, all who had shown strong interest throughout the campaign,' he said. Mr Horwood said the home's location mostly attracted interest from families.
Daily Telegraph
an hour ago
- Daily Telegraph
Weekend auction wrap: Sydney family smashes neighbour's record
A home in Sydney's northwest has sold for a suburb record, smashing the price paid for a home owned by the neighbours – the previous highest price in the area. The property on Anthony Rd sold for $4.7 million, setting a new record for a house sale in West Ryde. The auction saw the sellers pcoket a price $300,000 above their $4.4 million reserve. It has come amid rising auction activity that suggests Sydney is due another round of stellar growth in home prices. Auction clearance rates have been above 70 per cent for weeks, with preliminary figures showing nearly three quarters of auctions last week produced a sale. Historically, this kind of success rate over successive weeks has coincided with widespread price rises. Pello Northern Suburbs sales agent Michael Dowling said the West Ryde auction was 'really competitive' with bidding starting at $3.8 million. 'The previous highest sale in West Ryde was the house next door, and that sold for $4.19 about two years ago,' he said. 'So we knew it was going to be better than that, but I didn't think it was going to be $510,000 better than that.' MORE: Aus worse off as RBA rate cut panic sets in Mr Dowling said the home sold to a mother and two sons moving from Cheltenham who wanted a more spacious home that was ready to move in to. 'A lot of people in our area want that move-in ready feel, rather than going through the hassle and the inconvenience of dealing with council,' he said. 'A lot of people just want that finished product now.' MORE: 'Pivotal moment': chance to buy in Sydney for half price Auction clearance rates above 70 per cent have historically correlated with rises in prices across the Sydney market as a whole. Ray White NSW head of auctions Dave McMahon said the first weekend of August saw a 25 per cent decrease in scheduled auctions from the week prior. 'The notable difference was that only half of them proceeded through the day,' he said. 'With stock levels low, agents have been more open to entertaining offers prior with circa 15-20 per cent selling before auction day. 'Despite lower auction numbers today, we continued to see spirited competition from buyers with an average of 5.8 registered and 3.6 actively bidding.' MORE: Where your luxury car can come to dinner 'The decision to move it in-room was brilliant,' Mr Hajjar said. 'It created a really warm environment for bidders.' The homes under the hammer on King Rd, Hornsby and Kooringal Ave, Thornlie sold for prices well over their respective reserves. The property on King Rd sold for $2.095 million, a price $195,000 over reserve, while 78 Kooringal Ave sold for $2.395 million, $295,000 above its reserve. Mr Hajjar said it was a 'hesitant start' to the bidding, before they 'heated up very quickly.' Fifty-six bids were placed for 78 Kooringal Ave and a staggering 117 bids were placed during the auction for 8 King Rd. MORE: Pub baron's lavish lifestyle while owing $1bn criticised Further out west, a family were reported to be delighted with the sale of their property in Hassall Grove. No. 33 Monica Ave sold over reserve for a price of $1.015 million, with bidding opening at $800,000. Sales agent Meshel Bahnam of Ray White United Group said there were 17 registered bidders, the most he has seen in 'well over 18 months'. 'People are trying to buy before rates change this month,' she said. 'In the end, local first home buyers who have been looking for six months bought the house. 'They are so happy as they keep missing out on auctions,' said Mr Banham. Mr Banham said it was a suburb record price for a three-bedroom, one-bathroom house on a 454 sqm block. Sellers Brooke, Alex and their three children were reported to be contemplating a move to Lake Macquarie for a lifestyle change. Other sales included the auction for 50 Iandra Street, Concord West, which sold to its first bidder, going for a price of $3.51 million. Horwood Nolan founder and director Ben Horwood said interest was strong in the lead up to the auction. 'We had three registered bidders, all who had shown strong interest throughout the campaign,' he said. Mr Horwood said the home's location mostly attracted interest from families. MORE: Aus worse off as RBA rate cut panic sets in
The Australian
2 hours ago
- The Australian
Tuesday's winning Oz Lotto numbers: 11, 32, 40, 42, 38, 29, 34, supps 15, 3 and 47
Life's about to change for at least two lucky Aussies who hold the winning tickets in Tuesday's Oz Lotto's draw, sharing the division one $30m jackpot. The winning tickets are worth $15m each. It is not yet known where the winning tickets were purchased. The winning numbers in Tuesday's draw are: 11, 32, 40, 42, 38, 29, 34 and the supplementaries are 15, 3 and 47. Six tickets across Australia will also share in the division two prize pool worth $448,521. Last month, a Tasmanian man become that state's biggest Lotto winner when he claimed the $70m jackpot. There have been 310 division one winning Lotto tickets across Australia this year taking home almost $1bn in prize money. NewsWire Aussie travellers are being warned rabies infections are on the rise in Bali with popular tourist spots identified as red zones. NewsWire One Nation leader Pauline Hanson reveals the wild reason why she rejected Welcome to Country ceremonies in the Senate.
