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.
Zip (ASX:Z1P) up 9%, US markets creep higher
Longest winning streak since July, go slow at Transurban (ASX:TCL), Zip (ASX:Z1P) up 9%, US markets continue to creep higher
The ASX 200 (ASX:XJO) has delivered its longest winning streak since July, finishing 1.1% higher as the budget stimulus continues to reverberate through markets.
The announcements have been well received by the corporate sector, despite several shortcomings. But a remainder of the long road ahead came from Transurban Ltd’s (ASX:TCL) AGM during which they provided a third quarter update.
Average daily toll road traffic was down 25.2% in the September quarter, with Sydney the only improver, growing 1.5%. Melbourne’s lockdowns continued to bite, pushing traffic down 58.6%, Brisbane a more muted 9.1% and North American, falling 28.2%.
Rather than a dilutive capital raising the company flagged the partial sale of the Washington toll road, in an effort to assuage lender concerns.
The share price fell 1.0% on the news and is 40% off its March lows despite the weakness.
To me this suggests limited upside even in the event of a vaccine. iSelect (ASX:ISU) settled a case with the ACCC for $8.5 million, arising from queries around the competitiveness of its comparisons, shares rallied 13.3%.
RBA still in the ring, Brambles (ASX:BXB) guidance confirmed, Netwealth Ltd (ASX:NWL) booming
The Reserve Bank of Australia remains under pressure to do more, the latest comments from bond manager, Charlie Jamieson cutting to the core.
Speaking at a conference Charlie suggested that “the RBA are a tremendously reactionary central bank” and highlighting that “they could have done a worse job predicting what might occur”.
The same could be said for the majority of Australian economists in recent years.
Global pallet distributor Brambles Ltd (ASX:BXB) reiterated guidance for 2021, with sales to grow by up to 4%, and underlying profit closer to 5%, all going well; shares finished 0.9% higher.
Superannuation platform provider Netwealth Ltd (ASX:NWL) rallied 8.3% after announcing an 8% increase in funds under administration to $34 billion in September.
The growth is being driven by Managed Accounts, allowing advisers to outsource investment implementation, which is now $6.5 billion compared to just $3.4 billion in 2019.
The group also announced the launch of their own suite of funds with Magellan, adding another string to their bow.
Will she or won’t she, stimulus talks gather steam again, US markets at five week highs, McDonald’s sales up
The daily volatility continues, with signs the Democrats will relent on a new stimulus package boosting markets to five week highs.
The S&P 500 finished 0.8% higher and the Nasdaq 0.4%. It appears markets are becoming more optimistic about a Biden victory with the additional stimulus spending it provides to boost the domestic economy; only time will tell.
Signs of progress on both COVID-19 treatments and vaccines shot the energy sector higher, oil jumping over 3% on the news.
The combination of oil, cruise and travel companies will be the key beneficiaries from a real vaccine, but remain well below 2019 highs.
Merger activity has spiked in recent months with Morgan Stanley (NYSE:MS) announcing the acquisition of fund manager Eaton Vance (NYSE:EV) adding 48% on the news.
McDonald’s Corp (NYSE:MCD) announced that sales continued to recover in September, 4.6% higher which should be good news for Australia’s Collins Food Group Ltd (ASX:CKF).
