What is Happening Down Under?
May 14, 2018
Australian Markets Recap
- Australian equities finished higher with the ASX +0.31%. Telecommunications services (-4.39%) was the only sector in negative territory. Energy (+0.88%), materials (+0.83%), and healthcare (+0.84%) were the largest outperformers
- Market breadth in the ASX 200 was decidedly positive with 121 stocks advancing, while 61 stocks declined
- The ASX 200 traded on significantly lower volume than usual (19.21% below its 10-day average)
- According to a report by the Australian, major Australian banks have raised AUD$ 67 billion in funding YTD, well above expectations
- A report by the Australian Financial Review showed that the Australian government plans to raise tax rates on higher income earners. The highest tax bracket (AUD$180k+) currently contributes 34% of the total tax burden
- The Australian government estimates that the revenue collected from the illegal sale of tobacco is double what the Australian Tax Office estimates. The government is estimating that AUD$ 3.6 billion will be pulled in through these sales, compared to a AUD$1.8 billion estimate by the tax office
*Data in Price Return
ASX 200 Movers
In local currency.
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|GWA Group Ltd
|Beach Energy Ltd
|Super Retail Group Ltd
|Western Areas Ltd
|Lynas Corp Ltd
|Telstra Corp Ltd
|TPG Telecom Ltd
|Treasury Wine Estates Ltd