ASX closes lower as Beach Energy slumps 24pc
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Sarah Turner
The ASX closed down 0.8 per cent, or 56 points, at 7025.8 on the last trading day of April, pulled down by losses for miners and banks. BHP shares fell 2 per cent, Rio Tinto fell 1.7 per cent and CBA shares dropped 1.1 per cent.
Beach Energy shares plunged 24.1 per cent after downgrading its full year forecast. ResMed lost 4.2 per cent after dropping to a quarterly net loss.
4.16PM – Apr 30, 2021
Sarah Turner
Abacus Property Group has exchanged contracts to buy four more self storage facilities for $44.2 million.
It has also acquired the remaining 60 per cent interest in The Oasis Centre, Broadbeach, for $103.5 million.
VGI faces into the fund managerâs dilemma
Managing director Rob Luciano needs to better balance stock picking with investor relations, as he battles an activist campaign. He believes a new CEO can help.
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Rob Luciano is trying to solve the conundrum he says plagues all modern fund managers.
On one hand, the executive chairman of ASX-listed hedge fund VGI Partners says thereâs never been a more important time for a fundie to be actively managing their portfolio.
âItâs a treacherous environment,â Luciano says. âI think youâve got to be highly selective and youâve got to have more factors in play than you did even 12 months ago.â
ASX to drop, global equities retreat
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Australian shares are poised to drop at the open, amid a global retreat in equities amid concerns about renewed COVID-19 infections.
ASX futures tumbled 86 points or 1.2 per cent to 6911 near 7am AEST. The currency slid 0.4 per cent.
The yield on the US 10-year note fell 5 basis points to 1.56 per cent at 4.59pm in New York. Bitcoin was trading near $US56,675 near 7.20am AEST on bitstamp.net.
Wall Street’s main indexes fell for a second straight day as a global spike in coronavirus cases hit travel stocks and investors had second thoughts about big US banks’ apparently stellar earnings last week.
Itâs been a big month for Kelly OâDwyer
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Former financial services minister
Kelly OâDwyer has had a symbolic win for the fund she set up to support Liberal women in politics. OâDwyerâs Enid Lyons Fighting Fund has been named as the recipient of cash raised from a major party money spinner in late May. The Federal Presidentâs Dinner will be headlined by the PM and draws members and big-spending corporates. Itâs also one of the highest profile events in the partyâs calendar.
It s been a big month for Kelly O Dwyer brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.