A UK research report has found a growing number of couples over 60 live in separate households, a trend particularly pronounced among those entering a new relationship at this stage of their lives. Improved mental health is a bonus.
Speakers of the calibre of David Knoff, the expedition leader stranded with his team in Antarctic during COVID, can regularly be heard at this global institution that places a premium on knowledge, not qualifications.
Local market follows global lead, Atlas Arteria deal dumped, Macquarie’s bumper profit
It was another strong day for the local market with the S&P/ASX200 gaining 1 per cent on the back of a broad-based rally.
Materials and energy remained the standouts, gaining 2.4 and 1.3 per cent, with the utility sector down 1.8 as both AGL Energy (ASX: AGL) and Origin (ASX: ORG) slumped.
Macquarie Group (ASX: MQG) was a standout with the company delivering its 53rd consecutive year of unbroken profitability after confirming a 56 per cent jump in profit to $4.7 billion for the financial year.
The strength of the result was broad-based with the bank’s Green Investment Group a key contributor despite a number of asset management businesses around the world struggling.
The fund’s management division was broadly flat despite weak markets, with private market assets increasing 11 per cent, while the bank reported 8 per cent growth in lending as it continued to gobble up market share.
Both the Commodities and Macquarie Capital divisions, which operate in hedging and mergers and acquisitions saw bumper results but management has warned that recent activity levels will slow in 2023. Despite this, shares finished 3 per cent higher.
AACo dividend on hold, Treasurer’s statement, IFM pulls out of Atlas toll road deal
Patient shareholders in cattle play AACo (ASX: AAC) were disappointed once again with the tightly held company declining to restart the payment of dividends after a 14-year freeze in an effort to keep funds available for capital and operational expenditure.
The new Treasurer has set expectations well above the major economists, suggesting inflation will peak at 7.75 per cent, that the economy faces a ‘narrow path’ to a soft landing and warning of a $30 billion hit to the economy.
Shares in European and US-based toll road operator Atlas Arteria (ASX: ALX) fell more than 6 per cent upon news that serial acquirer IFM would not be proceeding with a formal takeover bid for the business.
Iron ore and lithium miner Mineral Resources (ASX: MIN) delivered record products for the financial year, albeit slightly below prior guidance, shares gained more than 9 per cent on the news.
Zip (ASX: ZIP) continued its recent tear, gaining another 23 per cent and hitting $1.52 near tripling in just a few days.
US markets rally despite negative growth, Amazon jumps, Meta profit falls again
It was another strong day for the US and global markets with all three benchmarks rallying despite news that the US economy had contracted once again.
The Dow Jones gained 1 per cent, the S&P500 1.2 and the Nasdaq 1.1 per cent following the Fed’s decision to hike rates by 75 basis points.
The strength came after GDP was said to have contracted by another 0.9 per cent, the second consecutive fall for the US economy, increasing hopes that rate hikes would be put on hold.
Shares in Meta Platforms (NYSE: META) fell more than 5 per cent after the company reported a third consecutive quarter of declining profits which came on the back of a small fall in income blamed on lower ad revenue and greater competition from the likes of Tik Tok.
Shares in Ford (NYSE: F) rallied more than 6 per cent after management reported a 50 per cent jump in sales to US$40.2 billion and delivered 14,000 EVs in the month of June as production continues to ramp up.
Shares in Amazon (NYSE: AMZN) were also trading more than 10 per cent higher after beating revenue expectations.
