Australian Market Outlook - 5 August 2021

On Wednesday, Australian equities hit a new high, lifted by The Federal Reserve has stated repeatedly that it will keep miners as iron ore prices surged, while shares purchasing Treasury and mortgage-backed securities at stalled after a two-day run of outstanding gains. $US80 billion ($108 billion) and $US40 billion per month, respectively, until “substantial further progress” is made Australian markets eked out modest gains as higher iron toward achieving full employment. ore prices helped lift miners. The benchmark S&P/ASX 200 Index edged up 28.70 points, or 0.4 percent, to 7,503.20, Afterpay's $39 billion acquisition with Square has prompted while the broader All Ordinaries Index ended up 28.20 caution from . points, or 0.4 percent, to 7,778.70. The bank will look into the strategic rationale for offering , BHP Group, and all saw Afterpay clients with white-labeled bank accounts at the their stock prices rise between 1.6 and 2.7 percent. same time Square pushes up SME lending in — something Afterpay has never been interested in doing. Afterpay declined 0.9 percent, capping a two-day strong run in which it gained roughly 33 percent after supporting The International Olympic Committee (IOC) will receive Jack Dorsey's payments startup Square in a $29 billion more than $US4 billion ($5.4 billion) in broadcasting rights takeover. for the time between the 2018 Pyeongchang Winter Olympics and the 2020 Tokyo Olympics, with the majority of Zip Co Ltd fell 0.6 percent, and Sezzle rose 1.4 percent, as the money going back into the Games and supporting sports did its smaller purchase now, pay later peers. and athletes.

The so-called "Big Four" banks in Australia increased by The High Court has bolstered firms' ability to define 0.3 percent to 1.03 percent. employment by contract, overturning a landmark "double dipping" judgement that meant regular casuals were entitled Energy stocks rose 0.9 percent, driven by Woodside to paid leave, putting corporations at risk of a $39 billion Petroleum Ltd, the world's largest independent gas backpay bill. producer. Scarborough's estimated costs are expected to rise by 5%, according to the firm.

Top Gainers Top Losers

Company Last Price Change% Company Last Price Change%

Nuix Ltd. $2.65 3.92% Chalice Mining Ltd. $7.04 -2.49%

James Hardie Industries $47.66 3.16% EML Payments Ltd. $3.66 -2.01% PLC

Unibail-Rodamco- $5.90 2.97% Ltd. $2.02 -1.94% Westfield SE CDI

Kogan.com Ltd. $11.06 2.88% Netwealth Group Ltd. $15.32 -1.79%

carsales.com Ltd. $22.43 2.40% RedBubble Ltd. $3.35 -1.76% Australian Market Outlook - 5 August 2021

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