6 August 2018
Bassanese Bites: Tech trillionaire – Week beginning: 06 August 2018
In Australia, retail sales remained firm in June, rising 0.4% – which meant overall sales volumes bounced back a chunky 1.2% in the quarter after an abysmal 0.2% growth in the March quarter. That continued the theme of volatility in reported sales around what remains a soft underlying trend. Not helping the consumer outlook, Core-Logic reported further weakness in national house prices in July. All up, the S&P/ASX 200 slipped 1% last week, with lingering nervousness around the outlook for banks ahead of CBA’s profit report this Wednesday and the ongoing Royal Commission, which this week peers into the superannuation sector. Resources were also weaker last week with Rio Tinto missing earnings expectations due to higher than expected cost overruns.
< Back to Blog