The Australian share market finished session sharp higher on Wednesday, 02 June 2021, as a wide range of issues attracted buying after the country s first-quarter GDP came in better than expected 1.8% growth in the March quarter 2021, with Australian economic activity has recovered to be above pre-pandemic levels.
At closing bell, the benchmark S&P/ASX200 was up 75.25 points, or 1.05%, up at 7,217.82.
The broader All Ordinaries rose 76.77 points, or 1.04%, to 7,468.87.
Total 9 of 11 S&P/ASX200 sectors were higher, with the best performing sectors were energy (up 4.05%), followed by utilities (up 2.64%), real estate (up 1.97%), materials (up 1.92%), consumer discretionary (up 1.28%), and industrials (up 1.25%), while information technology (down 1.09%) and healthcare (down 0.48%) were worst performing sectors.
Australia doesn’t expect to reopen its international borders until well into 2022.
The border has been closed since March 2020. That decision has been instrumental in the nation containing COVID-19, but there are big social and economic costs.
The social costs – of families separated, of students and others losing their jobs but being denied government assistance and so on – are hard to quantify.
But we’ve done our best to calculate some of the economic cost. By our reckoning every day the borders remain largely closed is costing at least $36.5 million in lost expenditure.
Calculating the costs of the closed border
Прогноз по золоту: драгоценный металл может обновить максимумы в 2021 году sia.ru - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sia.ru Daily Mail and Mail on Sunday newspapers.
A divorce or a relationship break-up could have the potential to jeopardise retirement savings.
Australians are already struggling to save up the necessary $500,000 recommended so a single person can have a comfortable requirement.
A relationship breakdown is even more of a hindrance to accumulating enough superannuation, especially when assets are combined under a super splitting arrangement.
Women in Super chief executive Sandra Buckley said women were abandoning their superannuation because dividing up retirement assets were too tricky without legal advice.
A divorce or a relationship break-up have the potential to jeopardise retirement savings. Women in Super chief executive Sandra Buckley said women were abandoning their superannuation because dividing up retirement assets were too tricky without legal advice. Stock image
“There is a lack of consistency and regulation in how funds report ESG investments and how ESG principles are integrated into their investment decisions and strategy and the impact this has on their returns.”
This was important given the growth of responsible investing which now accounted for 37% of $3.135 billion in assets under management, according to the Australian Bureau of Statistics (ABS).
“Stronger, more consistent guidelines and more information sharing would reduce the risk of misleading marketing claims about ESG investing,” Waring said.
“It would also push investor ESG preferences more effectively through fund managers down to the individual investee companies where many key decisions are being made.”