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Australian shares fall sharply, hit one-month low

The local share market has slipped to a nearly one-month low in morning trade, with losses across the board after a bleak economic update from Germany. At lunchtime AEDT on Tuesday, the benchmark S&P/ASX200 index had fallen 90.1 points, or 1.2 per cent, to 7,406.2, its lowest level since December 15. The broader All Ordinaries was down 93.6 points, or 1.21 per cent, to 7,636.5. The losses came after Germany's national statistics office reported reported a 0.3 per cent fall in gross domestic product in 2023, raising fears about the state of the global economy. "Despite recent price declines, prices remained high at all stages in the…

Global economy 'fraught with uncertainty,' expected to slow: Davos survey

A majority of economists believe economic activity will slow down in 2024, according to a World Economic Forum , citing global conflicts and the stresses of long-term deflationary efforts. “Global economic prospects remain subdued and fraught with uncertainty,” the report reads. “While there are positive developments, such as easing inflationary pressures and advances in the field of artificial intelligence (AI), businesses and policy-makers face persistent headwinds and continued volatility as global economic activity remains slow, financial conditions remain tight and geopolitical rifts and social strains continue to grow.” The…

Fundamentals Point To Flat Oil Prices in 2024

Without a major geopolitical escalation in the Middle East, oil prices are likely to remain around current levels this year, due to a comfortable spare capacity at OPEC+ producers and largely balanced supply and demand outlooks, analysts say. Attacks by the Iran-backed Houthis on commercial shipping in the Red Sea and the US-UK strikes on military targets in Yemen in response moved Brent oil prices briefly above $80 per barrel at the end of last week, but prices quickly pulled back to around $78 a barrel in Asian trade early on Monday. The market continues to eye the developments in the Middle East and the potential of a major…

Trump’s plan to unleash more chaos on the world

With voting in the Republican caucuses now underway, the spectre of a second Trump presidency, one perhaps even more anarchic than the first, is looming larger over the global economy. Trump is, despite his multitude of legal problems, the clear frontrunner for the Republican nominee for the presidential election in November and is ahead of Joe Biden in most of the polls. The prospect of him winning another term is therefore quite realistic. Donald Trump is the clear frontrunner for the Republican nominee for the presidential election in November. Credit: AP Trump and the conservative groups preparing his agenda for a second term…

Trump’s plan to unleash more chaos on the world

With voting in the Republican caucuses now underway, the spectre of a second Trump presidency, one perhaps even more anarchic than the first, is looming larger over the global economy. Trump is, despite his multitude of legal problems, the clear frontrunner for the Republican nominee for the presidential election in November and is ahead of Joe Biden in most of the polls. The prospect of him winning another term is therefore quite realistic. Donald Trump is the clear frontrunner for the Republican nominee for the presidential election in November. Credit: AP Trump and the conservative groups preparing his agenda for a second term…