• About Us
  • Privacy Policy
  • Contact
Mortgage Insurance Center
  • Home
  • Mortgages
  • Health Insurance
  • Home Insurance
  • Life insuranace
  • Finance Laws
    • Banking Laws
    • Assets
    • Interest Rate
    • Loans
No Result
View All Result
  • Home
  • Mortgages
  • Health Insurance
  • Home Insurance
  • Life insuranace
  • Finance Laws
    • Banking Laws
    • Assets
    • Interest Rate
    • Loans
No Result
View All Result
Mortgage Insurance Center
No Result
View All Result
Home Mortgages

ASX Large Caps: ASX rebounds as Westpac, CBA, BoQ slap higher mortgage rates on to customers

by Matthew Upton
June 8, 2022
in Mortgages
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

[ad_1]

  • ASX rebounds by 0.30% today
  • All sectors rose except financials
  • Energy stocks higher as investors assess global oil supply 

 

The ASX 200 has rebounded after the shock 50bp RBA rate hike yesterday triggered a 1.5% selloff.

Banks were the only sector that dropped today, with Energy and Utilities leading the broader market higher by 0.40%

Bank of Queensland (ASX:BOQ) and Commonwealth Bank (ASX:CBA) have today joined Westpac (ASX:WBC) as the first  major banks to pass on the full 50bp rate hike to customers.

Higher prices and mortgage rates have turned on the screw for many households, and now former RBA governor Ian Macfarlane warns that inflation could go to as high as 8% before coming back down to 2-3%.

“I find it hard to think that it will just come back to 2 per cent,” Macfarlane told the Morgan Stanley Australia summit.

“I think there’s enough scarcity out there, particularly with such a tight labour market both in the US and here, and with the feeding through of all the supply shocks… I think 3-4-5 per cent is more likely.

“It could go up to 7 or 8 per cent,” he added.

Meanwhile, Energy stocks on the ASX were well bid today as traders assessed the supply situation globally.

Brent is trading steady around the US$120 level, but some experts believe it might be the calm before the storm.

Goldman Sachs predicts a US$140 oil price between the summer months of July and September, up from its prior call of $125 a barrel.

“Returning Venezuelan and Libyan production to Europe and North America, should it occur, will not be material enough in the shorter term to force prices lower,” said Oanda senior analyst, Jeff Halley.

“Refining margins globally suggest that demand for petrol and diesel remain in heavy demand, with the refining logjam in refined products backstopping crude prices.

“A reopening China is also supportive of oil prices,” Halley continued.

 

BIG CAP WINNERS

Swipe or scroll to reveal the full table. Click headings to sort.

Code Name Price % Change Volume Market Cap
ALX Atlas Arteria 8.25 16% 10,556,234 $6,809,029,405
BLD Boral Limited 3.275 15% 10,914,356 $3,154,832,878
PDN Paladin Energy Ltd 0.795 13% 29,916,822 $2,099,334,196
YAL Yancoal Aust Ltd 6.07 7% 2,056,987 $7,473,687,213
SMR Stanmore Resources 2.755 5% 4,006,441 $2,361,620,049
WDS Woodside Energy 34.56 5% 9,265,473 $62,449,879,968
APA APA Group 11.68 4% 2,820,663 $13,214,811,098
GRR Grange Resources. 1.76 4% 3,341,742 $1,955,902,400
STO Santos Ltd 8.78 4% 12,983,703 $28,687,226,248
GQG GQG Partners 1.6825 4% 1,685,826 $4,798,308,830
SQ2 Block 116.41 3% 238,268 $4,652,393,288
GNC GrainCorp Limited 10.43 3% 1,235,166 $2,309,153,287
WOR Worley Limited 15.4 3% 1,378,880 $7,802,948,935
CMM Capricorn Metals 3.73 3% 877,484 $1,341,405,363
CRN Coronado Global Res 2.135 3% 5,929,974 $3,470,259,221
ARF Arena REIT. 4.32 3% 494,585 $1,452,580,334

Industrial materials company Boral Ltd (ASX:BLD) surged 15% after announcing that industry veteran Vik Bansal will become its new CEO.

Bansal has more than 30 years of leadership experience in the industry, with his latest job being the CEO of InfraBuild. He has also been at the helm of Cleanaway Waste Management (ASX:CWY).

Toll roads developer Atlas Arteria (ASX:ALX) rose 16% after IFM Global Infrastructure Fund (IFM) acquired 15% of the company after market-close yesterday at a price of $8.10 per security. Atlas says it has not yet received any proposal from IFM to acquire additional stake in the company.

Woodside Energy (ASX:WDS), Santos (ASX:STO), and Origin Energy (ASX:ORG) were some of the best performing energy and utility stocks today.

 

BIG CAP LOSERS

Swipe or scroll to reveal the full table. Click headings to sort.

Code Name Price % Change Volume Market Cap
5EA 5Eadvanced 3.33 -8% 1,451,981 $1,120,979,320
SYA Sayona Mining Ltd 0.1525 -8% 111,613,737 $1,360,009,226
BEN Bendigo and Adelaide 9.845 -7% 3,076,441 $5,972,241,930
WBC Westpac Banking Corp 22.05 -6% 13,995,957 $81,961,399,317
BRN Brainchip Ltd 0.95 -5% 9,306,741 $1,714,362,144
CBA Commonwealth Bank. 97.6 -4% 3,474,838 $173,983,687,842
SNZ Summerset Grp Hldgs 9 -4% 331 $2,169,997,243
JRV Jervois Global Ltd 0.71 -4% 2,607,179 $1,124,615,711
NAB National Aust. Bank 28.96 -4% 7,196,944 $96,601,297,533
MFG Magellan Fin Grp Ltd 12.63 -4% 1,633,850 $2,436,591,519
BOQ Bank of Queensland. 7.095 -4% 4,242,961 $4,771,024,620
CLW Chtr H Lwr 4.65 -4% 4,278,806 $3,484,645,346

Westpac dipped 6% after saying that it will pass on the full 50bp rate hike to exisiting and new mortgage customers.

You might be interested in

[ad_2]

Source link

Previous Post

Hawai‘i’s Home Insurance Premiums Are Lowest in Nation

Next Post

Kiwibank offers 1% cash for new home loans, up to $10,000

Next Post

Kiwibank offers 1% cash for new home loans, up to $10,000

Popular Posts

Ajanta Pharma : Newspaper Advertisements
Life insuranace

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

by Matthew Upton
July 28, 2022
0

Close Provided by: TAIMING ASSURANCE BROKER CO.,LTD. SEQ_NO 4 Date of...

Read more

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

20% interest rate on credit cards! Here’s how to avoid paying those high rates :: WRAL.com

Sens. Murphy, Blumenthal, Colleagues Reintroduce the Behavioral Health Coverage Transparency Act – InsuranceNewsNet

$1 billion in loans still available for agricultural funding in Ohio

How Long Do Car Accidents Stay on Your Record?

Rocket Mortgage Classic Wagers: Pick To Finish Top-10

Load More

Popular Posts

Hingham DPW Workers Deserve Respect, Decent Wages and Affordable Health Insurance

Hingham DPW Workers Deserve Respect, Decent Wages and Affordable Health Insurance

by Matthew Upton
July 5, 2022
0

Propy introduces blockchain title and escrow service

Propy introduces blockchain title and escrow service

by Matthew Upton
May 26, 2022
0

Biden administration sued after fertility awareness methods cut from health coverage

by Matthew Upton
June 15, 2022
0

Ajanta Pharma : Newspaper Advertisements

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

July 28, 2022

20% interest rate on credit cards! Here’s how to avoid paying those high rates :: WRAL.com

July 28, 2022
Edelweiss General Insurance launches India’s first on-demand, mobile telematics-based comprehensive motor insurance – SWITCH

Sens. Murphy, Blumenthal, Colleagues Reintroduce the Behavioral Health Coverage Transparency Act – InsuranceNewsNet

July 28, 2022

Categories

  • Assets
  • Banking Laws
  • Finance Laws
  • Health Insurance
  • Home Insurance
  • Interest Rate
  • Life insuranace
  • Loans
  • Mortgages

Tags

home loans mortgage personal loan
  • Privacy Policy
  • contact us

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • About Us
  • contact us
  • Home
  • Home 2
  • Home 3
  • Privacy Policy

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.