Burrell Stockbroking and Superannuation is a longstanding Queensland company providing full stockbroking, superannuation, wealth management and advisory services to private clients, Not-for-Profit and other investment organisations.
U.S. markets rose overnight with the S&P 500 gaining for the fifth consecutive session to close at a record.MORE >
The Australian market closed modestly higher after a choppy session.
Wednesday, 24th May, 2017
The trigger of today's volatility was that Moody's surprisingly downgraded China's credit rating to A1 from Aa3. Most sectors performed positively, with only materials, financials and utilities ending in the red. The Australian dollar depreciated against most major currencies.
The All Ordinaries added 8.70 points (0.15%) to 5,811.50 while the S&P/ASX 200 gained 8.80 points (0.15%) to 5,769.00.
Ardent Leisure Group has been approached by representatives of Ariadne Australia and Kayaal as trustee for the Kayaal Trust (Kayaal) with a request to appoint two directors to the Ardent Boards, being Dr. Gary Weiss and Mr Kevin Seymour. AAD lifted 3 cents (1.46%) to $2.08. Western Areas announced that a A$13.3m increase in post-tax FY2017 earnings is expected as a result of discontinuing to equity account it's investment in Bluejay Mining Plc (Bluejay) during the current half. It has ceased to equity account its investment in Bluejay following finalisation of all merger conditions and accumulated dilution since the merger between FinnAust Mining Plc and Bluejay was announced in 2016. It holds 19% of Bluejay. The expected A$13.3m non-cash gain is based on a revaluation of the investment to market value using the quoted trading price of Bluejay shares on the London AIM at the time of ceasing to equity account. WSA lost 5 cents (-2.24%) to $2.18.
The NZX rose 37.08 points (0.50%) to 7,421.78 while the Nikkei added 129.70 points (0.66%) to close at 19,742.98.
The Australian dollar was last quoted at 74.59 US cents.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7459||-0.0011||-0.15|
|$A vs GBP||0.5747||
|$A vs EUR||0.6672||-0.0009||-0.13|
|$A vs YEN||83.48||-0.16||-0.19|
|$A vs $NZ||