Aussie shares gain as Japan secures US trade deal
About midday on Wednesday, the benchmark S&P/ASX200 index was up 32.9 points, or 0.41 per cent, to 8,714.4, while the broader All Ordinaries had gained 36.1 points, or 0.39 per cent, to 8,976.1.
In a post to Truth Social, Mr Trump announced the trade deal would result in Japan investing $76 billion into the US, lifting crude oil and Nikkei's 225 index.
While the details of the trade deal were limited and there might be some disagreement from the Japanese side, its impact appeared to be positive, IG market analyst Tony Sycamore said.
"Reaching an agreement there would significantly help to defuse the impact and lessen the importance of the August 1 deadline," he said on Wednesday.
In Australia, iron ore miners continued to extend gains for the third session this week, bolstered by reforms to China's steel industry.
The majority of miners were all in the green with BHP gaining 1.0 per cent, Rio Tinto climbing 2.2 per cent and Fortescue up 1.8 per cent.
All four of the big retail banks were in the green, with CBA up 0.1 per cent, NAB edging 0.04 per cent higher, Westpac gaining 0.9 per cent and ANZ climbing 1.1 per cent.
In the energy sector, Woodside had climbed 1.7 per cent after Australia's largest oil and gas producer announced second-quarter production was up two per cent from the first quarter.
Woodside also announced its $16 billion Scarborough project gas project 375km off the coast of Western Australia was 86 per cent complete and on-track to deliver its first LNG cargo in the second half of 2026.
Ampol had grown 3.5 per cent as the petrol company said its convenience retail business had continued its track record of growing earnings in the first half.
Karoon Energy rose 0.7 per cent as the Brazil-focused oil and gas producer announced CEO Julian Fowles would depart by mid-2026.
Paladin Energy was down 9.2 per cent as the uranium miner announced a 33 per cent quarter-on-quarter rise in production at its Langer Heinrich mine in Namibia.
In health care, Telix Pharmaceuticals had slid 12.1 per cent as the radiopharmaceutical company announced shares worth $1 million would be released from voluntary escrow next week.
The Australian dollar was buying 65.59 US cents, from 65.14 US cents about 5pm on Tuesday.
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9 News
an hour ago
- 9 News
Trump caps his Scottish visit by opening a new golf course and promoting his family brand
Your web browser is no longer supported. To improve your experience update it here Golf and Scotland are close to US President Donald Trump 's heart, and both were in play on Tuesday (Wednesday morning AEST) as he opened a new eponymous course in the land of his mother's birth, capping a five-day trip that was largely about promoting his family's luxury properties. Dressed for golf and sporting a white cap that said "USA", Trump appeared to be in such a jolly mood that he even lavished rare praise - instead of the usual insults - on the contingent of journalists who had gathered to cover the event. "Today they're not fake news," Trump said. "Today they're wonderful news." US President Donald Trump tees off during the opening ceremony for the Trump International Golf Links golf course, near Aberdeen, Scotland, Tuesday, July 29, 2025 (AP Photo/Jacquelyn Martin) The golf-focused trip gave him a chance to escape Washington's summer heat, but he could not avoid questions about Jeffrey Epstein, the deepening food crisis in Gaza or other issues that trailed him across the Atlantic. The trip itself teed up another example of how the Republican president has used the White House to promote his brand. Trump on Monday expressed concern over the worsening humanitarian situation in Gaza and urged Israeli Prime Minister Benjamin Netanyahu to do more to get food aid to hungry Palestinians. Asked if he agreed with Netanyahu's assertion on Sunday that "there is no policy of starvation in Gaza and there is no starvation in Gaza," Trump said he didn't know but added, "I mean, based on television, I would say not particularly because those children look very hungry." Trump on Monday expressed concern over the worsening humanitarian situation in Gaza (Getty) The president also offered a reason why he banished Epstein from his private club in Palm Beach, Florida, years ago, saying it was because the disgraced financier "stole people that worked for me." A top White House aide said last week that Epstein was kicked out for being a "creep". Flanked by sons Eric and Donald Jr., Trump counted "1-2-3" and wielded a pair of golden scissors to cut a red ribbon marking the ceremonial opening of the new Trump course in the village of Balmedie on Scotland's northern coast. "This has been an unbelievable development," Trump said before the ribbon cutting. He thanked Eric, who designed the course, saying his work on the project was "truly a labor of love for him". Eric Trump said the course was his father's "passion project". US President Donald Trump cuts the ribbon, standing between Donald Trump Jr., left, and Eric Trump, during an opening ceremony for the Trump International Golf Links golf course, near Aberdeen, Scotland, Tuesday, July 29, 2025 (AP Photo/Jacquelyn Martin) US President Donald Trump, left, watches fireworks as he attends the opening ceremony for Trump International Golf Links near Aberdeen, Scotland Tuesday, July 29, 2025 (AP Photo/Alastair Grant) Immediately afterward, Trump, Eric Trump and two professional golfers teed off on the first hole with plans to play a full 18 before the president returns to Washington on Tuesday night. Trump rarely allows the news media to watch his golf game, though video journalists and photographers often find him along the course whenever he plays. Trump's shot had a solid sound and soared straight, high and relatively far. Clearly pleased, he turned to the cameras and did an almost half bow. "He likes the course, ladies and gentlemen" Eric Trump said. US President Donald Trump plays golf after attending the opening ceremony for Trump International Golf Links near Aberdeen, Scotland Tuesday, July 29, 2025 (AP Photo/Alastair Grant) Billed as the "Greatest 36 Holes in Golf," the Trump International Golf Links, Scotland, is hosting back-to-back weekend tournaments before it begins offering rounds to the public on August 13. Trump worked some official business into the trip by holding talks with British Prime Minister Keir Starmer and reaching a trade framework for tariffs between the US and the European Union's 27 member countries — though scores of key details remain to be settled. But the trip itself was centered around golf, and the presidential visit served to raise the new course's profile. Trump's assets are in a trust and his sons are running the family business while he's in the White House. Any business generated at the course will ultimately enrich the president when he leaves office, though. President Donald Trump meets with Britain's Prime Minister Keir Starmer, left, and his wife Victoria Starmer at Trump Turnberry golf club on Monday, July 28, 2025 in Turnberry, Scotland. (Christopher Furlong/Pool Photo via AP) (AP) The new golf course will be the third owned by the Trump Organisation in Scotland. Trump bought Turnberry in 2014 and owns another course near Aberdeen that opened in 2012. Trump golfed at Turnberry on Saturday, as protesters took to the streets, and on Sunday before meeting there in the afternoon with European Commission President Ursula von der Leyen. The occasion blended two things dear to Trump: golf and Scotland. His mother, the late Mary Anne MacLeod, was born on the Isle of Lewis on the north coast. "We love Scotland here. My mother was born here, and she loved it," Trump said on Tuesday. She visited "religiously once a year" during the summer with his sisters, he said. US President Donald Trump arrives, followed by a bagpiper band, at the opening ceremony for the Trump International Golf Links golf course, near Aberdeen, Scotland, Tuesday, July 29, 2025 (AP Photo/Jacquelyn Martin) Perhaps the only mood-buster for Trump are the wind turbines that are part of a nearby windfarm and can be seen from around the new course. Trump, who often speaks about his hatred of windmills, sued in 2013 to block construction of the wind farm but lost the case and was eventually ordered to pay legal costs for filing the lawsuit – a matter that still enrages him more than a decade later. Trump said on a new episode of the New York Post 's Pod Force One podcast that the "ugly windmills" are a "shame" and are "really hurting" Scotland. The interview was conducted over the weekend and released on Tuesday. "It kills the birds, ruins the look. They're noisy," he said, asserting that the value of real estate around them also plummets. "I think it's a very bad thing. Environmentally, it's horrible." World USA Donald Trump scotland CONTACT US Auto news: Why Australians are still driving around without insurance.
Perth Now
3 hours ago
- Perth Now
Wall Street mixed amid focus on Federal Reserve meeting
The S&P 500 and the Nasdaq have touched fresh record highs as investors assess a spate of earnings and turn their focus to the US Federal Reserve's much anticipated policy meeting. In early trading on Tuesday, the Dow fell 0.08 per cent, to 44,803.16, the S&P 500 gained 7.45 points, or 0.12 per cent, to 6,397.42, and the Nasdaq Composite gained 40.19 points, or 0.19 per cent, to 21,218.78. The blue-chip index was currently about 200 points below its record peak. Key Dow components UnitedHealth and Boeing reported mixed quarterly results on the day. Health insurer UnitedHealth fell 4.2 per cent after a disappointing profit forecast while Boeing lost 2.7 per cent despite reporting a smaller second-quarter loss. UnitedHealth's stock has lost nearly half its value from the beginning of 2025. On the day, the healthcare index lagged other sectors and was down 1.1 per cent. Meanwhile, United Parcel Service became the latest victim of US President Donald Trump's sweeping tariffs as the stock tumbled 8.0 per cent after the company reported a lower-than-expected second-quarter profit. The S&P 500 and the Nasdaq were largely aided this week by a United States-European Union trade deal that halved tariffs to 15 per cent and boosted expectations of more agreements ahead of Trump's August 1 deadline. Trump has also floated a potential "world tariff" of 15 per cent to 20 per cent for non-negotiating countries. Key negotiations between the US and China entered their second day in Stockholm as the two leading economies aim to iron out their trade conflict and possibly produce a 90-day extension to the tariff truce brokered in May. Meanwhile, India was preparing for higher US tariffs - potentially as high as 25 per cent - on some exports as it opts to hold the line on new trade concessions ahead of the August 1 deadline, according to two Indian government sources. The International Monetary Fund was looking at the details of the trade agreements the United States has struck in recent days to assess their economic effect. Earnings from tech heavyweights Meta, Microsoft, Amazon and Apple are scheduled later this week, which could test Wall Street's record run. Spotify slumped 10 per cent after the company forecast third-quarter profit below estimates. Meanwhile, consumer confidence in July increased more than expected to 97.2. US job openings fell to 7.437 million in June, JOLTS data indicated. However, recent data has shown resilience in the labour market despite initial signs of inflation from tariffs. "It looks like companies are tightening up their hiring. The proportion that it dropped wasn't large but it's not in the right direction," said Kim Forrest, chief investment officer at Bokeh Capital Partners. The US central bank is set to begin its two-day policy meeting later in the day. While the Fed is expected to leave rates unchanged on Wednesday, traders will closely analyse policy makers' remarks to gauge the timing of future moves. According to the CME FedWatch tool, markets are pricing in about a 63.6 per cent chance of a rate cut in September. Among other earnings-related moves, Cadence Design rose 10 per cent after the chip design software provider raised its annual sales and profit forecast. Advancing issues outnumbered decliners by a 1.5-to-1 ratio on the NYSE while declining issues outnumbered advancers by a 1.17-to-1 ratio on the Nasdaq. The S&P 500 posted 29 new 52-week highs and nine new lows while the Nasdaq Composite recorded 53 new highs and 34 new lows.
The Advertiser
3 hours ago
- The Advertiser
Trump opens golf course in Scotland before heading home
US President Donald Trump has formally opened a new golf course at his sprawling property in Scotland, saying he would play a quick round before heading home to focus on addressing crises in the Middle East and elsewhere. Trump, wrapping up a five-day visit to Scotland, was joined by former football players, golfers and business leaders for a first round of golf at his new second 18-hole course at Trump International near Aberdeen, Scotland. Initially billed as a private visit, the trip quickly morphed into a diplomatic mission, including a trade agreement sealed with European Commission President Ursula von der Leyen, bilateral meetings with British officials and phone calls aimed at ending a nascent war between Cambodia and Thailand. During a meeting with British Prime Minister Keir Starmer on Monday, Trump raised pressure on Israeli Prime Minister Benjamin Netanyahu over a worsening hunger crisis in the war-torn Palestinian enclave of Gaza. Asked at Tuesday's event what he would say to Netanyahu, Trump said he was trying to get things "straightened out". During his talks with Starmer, Trump said he disagreed with Netanyahu's assessment there was no starvation in Gaza, while giving Russian President Vladimir Putin a much tighter deadline to make progress towards ending the war in Ukraine. Flanked by his two sons, Eric Trump and Donald Trump Jr, with several grandchildren nearby, Trump raved about the beauty of the new golf course in the dunes of northeastern Scotland, before teeing off. "I look forward to playing it today. We're going to play it very quickly, and then I go back to (Washington) DC and we put out fires all over the world," he said at a ribbon-cutting ceremony for the new course, alluding in part to a ceasefire between Thailand and Cambodia. "We stopped a war - we've stopped about five wars. So that's much more important than playing golf." Several nations have nominated Trump for the Nobel Peace Prize, a message endorsed by White House press secretary Karoline Leavitt in a social media post in recent days. Golfers Paul McGinley and Rich Beem teed off with Trump and his son Eric, and an eclectic mix of notable figures followed. Former Chelsea and AC Milan striker and top Ukraine goal-scorer Andriy Shevchenko, who is now the president of his country's football association, was a guest, as were fellow ex-football players Robbie Fowler, Gianfranco Zola and Jim Leighton. Scottish First Minister John Swinney, who met with Trump earlier on Tuesday, also attended, along with Adrian Mardell, the chief executive of Jaguar Land Rover, and Alastair King, the Lord Mayor of the City of London, who represents Britain's finance industry. US President Donald Trump has formally opened a new golf course at his sprawling property in Scotland, saying he would play a quick round before heading home to focus on addressing crises in the Middle East and elsewhere. Trump, wrapping up a five-day visit to Scotland, was joined by former football players, golfers and business leaders for a first round of golf at his new second 18-hole course at Trump International near Aberdeen, Scotland. Initially billed as a private visit, the trip quickly morphed into a diplomatic mission, including a trade agreement sealed with European Commission President Ursula von der Leyen, bilateral meetings with British officials and phone calls aimed at ending a nascent war between Cambodia and Thailand. During a meeting with British Prime Minister Keir Starmer on Monday, Trump raised pressure on Israeli Prime Minister Benjamin Netanyahu over a worsening hunger crisis in the war-torn Palestinian enclave of Gaza. Asked at Tuesday's event what he would say to Netanyahu, Trump said he was trying to get things "straightened out". During his talks with Starmer, Trump said he disagreed with Netanyahu's assessment there was no starvation in Gaza, while giving Russian President Vladimir Putin a much tighter deadline to make progress towards ending the war in Ukraine. Flanked by his two sons, Eric Trump and Donald Trump Jr, with several grandchildren nearby, Trump raved about the beauty of the new golf course in the dunes of northeastern Scotland, before teeing off. "I look forward to playing it today. We're going to play it very quickly, and then I go back to (Washington) DC and we put out fires all over the world," he said at a ribbon-cutting ceremony for the new course, alluding in part to a ceasefire between Thailand and Cambodia. "We stopped a war - we've stopped about five wars. So that's much more important than playing golf." Several nations have nominated Trump for the Nobel Peace Prize, a message endorsed by White House press secretary Karoline Leavitt in a social media post in recent days. Golfers Paul McGinley and Rich Beem teed off with Trump and his son Eric, and an eclectic mix of notable figures followed. Former Chelsea and AC Milan striker and top Ukraine goal-scorer Andriy Shevchenko, who is now the president of his country's football association, was a guest, as were fellow ex-football players Robbie Fowler, Gianfranco Zola and Jim Leighton. Scottish First Minister John Swinney, who met with Trump earlier on Tuesday, also attended, along with Adrian Mardell, the chief executive of Jaguar Land Rover, and Alastair King, the Lord Mayor of the City of London, who represents Britain's finance industry. US President Donald Trump has formally opened a new golf course at his sprawling property in Scotland, saying he would play a quick round before heading home to focus on addressing crises in the Middle East and elsewhere. Trump, wrapping up a five-day visit to Scotland, was joined by former football players, golfers and business leaders for a first round of golf at his new second 18-hole course at Trump International near Aberdeen, Scotland. Initially billed as a private visit, the trip quickly morphed into a diplomatic mission, including a trade agreement sealed with European Commission President Ursula von der Leyen, bilateral meetings with British officials and phone calls aimed at ending a nascent war between Cambodia and Thailand. During a meeting with British Prime Minister Keir Starmer on Monday, Trump raised pressure on Israeli Prime Minister Benjamin Netanyahu over a worsening hunger crisis in the war-torn Palestinian enclave of Gaza. Asked at Tuesday's event what he would say to Netanyahu, Trump said he was trying to get things "straightened out". During his talks with Starmer, Trump said he disagreed with Netanyahu's assessment there was no starvation in Gaza, while giving Russian President Vladimir Putin a much tighter deadline to make progress towards ending the war in Ukraine. Flanked by his two sons, Eric Trump and Donald Trump Jr, with several grandchildren nearby, Trump raved about the beauty of the new golf course in the dunes of northeastern Scotland, before teeing off. "I look forward to playing it today. We're going to play it very quickly, and then I go back to (Washington) DC and we put out fires all over the world," he said at a ribbon-cutting ceremony for the new course, alluding in part to a ceasefire between Thailand and Cambodia. "We stopped a war - we've stopped about five wars. So that's much more important than playing golf." Several nations have nominated Trump for the Nobel Peace Prize, a message endorsed by White House press secretary Karoline Leavitt in a social media post in recent days. Golfers Paul McGinley and Rich Beem teed off with Trump and his son Eric, and an eclectic mix of notable figures followed. Former Chelsea and AC Milan striker and top Ukraine goal-scorer Andriy Shevchenko, who is now the president of his country's football association, was a guest, as were fellow ex-football players Robbie Fowler, Gianfranco Zola and Jim Leighton. Scottish First Minister John Swinney, who met with Trump earlier on Tuesday, also attended, along with Adrian Mardell, the chief executive of Jaguar Land Rover, and Alastair King, the Lord Mayor of the City of London, who represents Britain's finance industry. US President Donald Trump has formally opened a new golf course at his sprawling property in Scotland, saying he would play a quick round before heading home to focus on addressing crises in the Middle East and elsewhere. Trump, wrapping up a five-day visit to Scotland, was joined by former football players, golfers and business leaders for a first round of golf at his new second 18-hole course at Trump International near Aberdeen, Scotland. Initially billed as a private visit, the trip quickly morphed into a diplomatic mission, including a trade agreement sealed with European Commission President Ursula von der Leyen, bilateral meetings with British officials and phone calls aimed at ending a nascent war between Cambodia and Thailand. During a meeting with British Prime Minister Keir Starmer on Monday, Trump raised pressure on Israeli Prime Minister Benjamin Netanyahu over a worsening hunger crisis in the war-torn Palestinian enclave of Gaza. Asked at Tuesday's event what he would say to Netanyahu, Trump said he was trying to get things "straightened out". During his talks with Starmer, Trump said he disagreed with Netanyahu's assessment there was no starvation in Gaza, while giving Russian President Vladimir Putin a much tighter deadline to make progress towards ending the war in Ukraine. Flanked by his two sons, Eric Trump and Donald Trump Jr, with several grandchildren nearby, Trump raved about the beauty of the new golf course in the dunes of northeastern Scotland, before teeing off. "I look forward to playing it today. We're going to play it very quickly, and then I go back to (Washington) DC and we put out fires all over the world," he said at a ribbon-cutting ceremony for the new course, alluding in part to a ceasefire between Thailand and Cambodia. "We stopped a war - we've stopped about five wars. So that's much more important than playing golf." Several nations have nominated Trump for the Nobel Peace Prize, a message endorsed by White House press secretary Karoline Leavitt in a social media post in recent days. Golfers Paul McGinley and Rich Beem teed off with Trump and his son Eric, and an eclectic mix of notable figures followed. Former Chelsea and AC Milan striker and top Ukraine goal-scorer Andriy Shevchenko, who is now the president of his country's football association, was a guest, as were fellow ex-football players Robbie Fowler, Gianfranco Zola and Jim Leighton. Scottish First Minister John Swinney, who met with Trump earlier on Tuesday, also attended, along with Adrian Mardell, the chief executive of Jaguar Land Rover, and Alastair King, the Lord Mayor of the City of London, who represents Britain's finance industry.
