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.
ASX down as oil nears US$140, AUD rallies, ‘pens down’ on AGL bid
The trends of the last two weeks look to set to accelerate for the rest of March with the S&P/ASX200 following the lead of US futures to fall another 1 per cent to open the week.
As has been the case since the invasion of Ukraine began, the energy sector remains the biggest beneficiary gaining 5.3 per cent with Woodside (ASX: WPL) a major contributor jumping 9.5 per cent to a two year high.
The driver was simple, President Biden has floated the idea of banning all Russian oil imports, something Europe has been loath to do, which sent the oil price to nearly US$140 per barrel for the first time in years.
Other beneficiaries include Beach Petroleum (ASX: BPT) which jumped 6.3 per cent on the news.
The materials sector was the only other area of the market that managed to finish higher, gaining 1 per cent on the back of a surging gold price which is now over AUD$2,700 and nearing US$2,000.
The primary beneficiaries were Northern Star (ASX: NST) and Newcrest (ASX: NCM) which were up 6.1 and 5.3 per cent respectively as investors flock to the most powerful hedge against volatility.
Despite the uncertainty, the rally in the AUD continued, reaching 74 cents overnight.
Qantas smashed, AGL flat, technology weakness accelerates
Among the hardest hit from the soaring oil price is the beleaguered travel sector, with shares in Qantas (ASX: QAN) falling 7.9 per cent.
One of the company’s biggest expenses is aviation fuel and with many prebooked flights, it is likely that margins will be hit if the oil price remains elevated.
The Mike Cannon-Brookes and Brookfield consortium has said it is time to put ‘pens down’ on their aggressive deal to takeover AGL Energy (ASX: AGL).
An improved offer or $8.25 per share was once again rebuffed by the board, who seem set on a costly demerger, with shares falling 1.8 per cent on the news. It’s unlikely this is the end of the AGL story.
Technology remains the most difficult place to be in the market with the sector falling another 4.7 per cent and Aussies experiencing Nasdaq-level volatility.
Block (ASX: SQ2) was the worst performer on the market falling 10.3 per cent.
Unibail-Rodamco-Westfield (ASX: URW) wasn’t far behind with the predominantly European domiciled retail assets likely impacted by the invasion, sending shares 9.5 per cent lower.
Oil price surge roils markets, Dow enters correction, energy higher
It was more of the same overnight for global markets with the surging oil price roiling US markets on concerns about the impact it will have on global growth.
The Dow Jones is nearing a technical correction, down 2.4 per cent, but outperforming the S&P500 and Nasdaq which fell 3.0 and 3.6 per cent respectively.
The oil price reaching US$140 is the highest since 2008 with the only hope a pick up in supply from the remaining members of OPEC+.
The increase is making the Federal Reserve’s rate hike decision more difficult by the day.
The only winners were limited to the utilities and energy sectors, with the likes of Haliburton (NYSE: HAL) and Schlumberger (NYSE: SLB) up 6 and 8 per cent respectively.
Shares in global airlines all fell heavily, with Delta (NYSE: DAL) and United (NYSE: UAL) both down double digits, whilst Bed Bath and Beyond (NYSE: BBBY) was a rare winner surging 34 per cent after an activist investor initiated a position.
