Wall Street has risen as investors hope for progress on trade in a critical US-China meeting over the weekend, and the S&P 500 and the Nasdaq posted their biggest weekly percentage gains in nearly seven years.
Oil prices edged lower due to concerns of oversupply and a strong dollar but losses were limited by expectations that the Organisation of the Petroleum Exporting Countries and Russia would agree some form of production cut next week.
The Australian share market suffered significant losses across the board, with consumer and banking stocks weighing the heaviest as world leaders descend on Argentina for critical trade discussions at the G20 summit.
Perth house prices have risen for the second straight month, according to new data from the Real Estate Institute of Western Australia, which released its monthly figures today ahead of market analyst CoreLogic.
Carnegie Clean Energy has been forced to abandon plans to sell its battery storage and microgrid business, while chairman Terry Stinson has detailed the renewable energy outfit’s recent struggles in an address at today’s annual meeting.
Saracen Properties will reassess plans for a redevelopment of the historic Royal George Hotel in East Fremantle, after Planning Minister Rita Saffioti backed a proposal to limit building height on the site to seven storeys.
The Australian share market burst out of the gates after a strong lead from Wall Street and held onto most of its gains by the close, buoyed by the banking sector and mining stocks on higher commodity prices.
The administrators in charge of RCR Tomlinson have secured funding to support the engineering contractor’s operations, and disclosed that more than 180 parties have expressed interest in the planned sale of its business.