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.
Aussie market gains, energy utilities support 7 week high, United Malt sinks
The positive run continued with the S&P/ASX200 gaining 0.7 per cent on Monday, the first day of August following a strong finish to July.
Investors have clearly been buoyed by suggestions that the RBA will need to pare back rate hikes well before the expected 4 per cent level is reached.
The result was a broad-based rally with only discretionary and technology companies sinking, while energy and utilities both gained 2 per cent.
Origin (ASX: ORG) was a key contributor, gaining 1.9 per cent on higher consumption.
Shares in Westpac (ASX: WBC) eked out a 0.7 per cent gain despite news that the sale of their Life Insurance business to TAL will trigger a $1.1 billion loss for the company.
Shares in acquisition target Genex Power (ASX: GNX) fell 2.3 per cent after the company refused to accept the bid from Skip Capital noting it undervalued the company.
Lake Resources was the market’s top performer gaining 4.5 per cent on a new deal with Panasonic for lithium production.
United Malt hit by inflation, technology sinks, Deterra pays off
Shares in the former Carlton & United Breweries business United Malt Group (ASX: UMG) were the biggest detractor falling 17.2 per cent after the company reported a weaker than expected finish to the financial year.
They now expect earnings to be between $100 and $108 million after a deterioration in their barley group, supply chain disruptions and inflation across the entire business has hit profitability.
Management now expected a 40 per cent jump in profit for the new financial year.
Royalty agreements are clearly beginning to pay off, with Deterra (ASX: DRR) gaining 3.1 per cent after reporting an 83 per cent jump in royalty receipts from their various mining license holdings.
Receipts in the June quarter were $113 million, nearly half of the entire yearly result of $265 million.
The majority came from BHP’s Mining Area C iron ore royalties, with WA mineral sands assets also proving fruitful amid a global increase in commodity prices.
Market weakens on economic data, Boeing jumps, Alibaba sinks on delisting threat
US markets couldn’t continue the strong finish to July, with all three benchmarks falling on Monday.
The Dow Jones outperformed, falling 0.3 per cent, on the back of a strong rally in Boeing (NYSE: BA) with the Nasdaq down 0.4 and the S&P500 down 0.5 per cent.
Boeing rallied more than 6 per cent after the company confirmed that the FAA airline regulator had approved the delivery of the troubled 787 Dreamliners once again.
Core inflation, as measured by the PCE, jumped 1 per cent in June, with the primary driver continuing to be fuel and gasoline prices, which are set to reduce in July.
The manufacturing PMI fell to 52.8 points as rate hikes begin to hit sentiment, while construction also fell 1.1 per cent in June.
Shares in NIO (NYSE: NIO) added 2 per cent after the company continued a strong run of vehicle deliveries, increasing 26 per cent to 10,052 in July.
Shares in Alibaba (NYSE:BABA) stabilised after an 11 per cent fall, with the company confirming they will do everything required to retain their NYSE listing after being added to the ‘delisting’ list by the bourse.
