none
none

BRITAIN STRUGGLES; AUSTRALIA RECOVERS

30-06-2016
by 
in 

British and European stocks have fallen 3 percent, but Australia's markets fell by only 1 percent during the trading day, recovering later in the afternoon and avoiding the downwards trend of other markets.

Shares in the big four banks have all risen by between 0.09 to 0.5 percent, and James Packer's Crown Resorts also rose by 0.5%. Further, the Australian dollar has already begun to recover after the initial sell-off, trading at 73 US cents to the AUD.

Not all outlooks are strong: mining stocks are now dropping, after a surprise boost to iron and gold immediately after the Brexit: gold miner St Barbara dropped from $3.28 per share to $3, and Fortescue Metals fell from $3.53 to $3.40 per share.

This accompanies a downturn in the All Ordinaries Index (-37 points), and energy and oil shares.

Market fluctuations and uncertainty over the exact state of Britain's economic future disrupt reliable market predictions.

Both political and economic figures in the EU are urging Britain to make a final decision and either activate Article 50 (which will immediately trigger the two-year leaving process), or pledge to remain despite the referendum results.

Related news & editorials

  1. DrumBlaster in use
    12.12.2017
    12.12.2017
    by      In
    An Australian innovation is starting to garner success at home and abroad, with increasing numbers of export orders for DrumBlaster. The company’s innovative buildup control technology system virtually eliminates residual concrete buildup in ready mix truck drums.
    “It is gratifying that after five... Read More
  2. 12.12.2017
    12.12.2017
    by      In
    A major new research centre aims to transform Australia's automotive industry by developing new lightweight materials and manufacturing technologies, making cars more fuel-efficient and reducing carbon dioxide emissions.
    The ARC Training Centre in Lightweight Automotive Structures (ATLAS) has been... Read More
  3. 12.12.2017
    12.12.2017
    by      In
    South Australia has rated in the world’s top three places to explore for oil and gas in a newly released global survey by the Fraser Institute in Canada.
    The respected public policy think tank asks petroleum industry executives each year for their views about barriers to investment in jurisdictions... Read More
  4. 12.12.2017
    12.12.2017
    by      In
    Mineral explorers and researchers from around the world will gain an unprecedented look at rocks from deep below the world-famous Nullarbor Plain.
    The Geological Survey of South Australia (GSSA ) will display 12 trays of drill core rom the South Australian Government’s $3 million PACE Copper... Read More