liveMarkets live updates: ASX slightly down, value of Australia's Future Fund up, WiseTech shortlisting candidates for CEOBy business reporter Stephanie ChalmersTopic:Stock Market4h ago4 hours agoMon 5 May 2025 at 9:40pmSkip to timelineabc.net.au/news/asx-markets-business-live-news-may-6-2025/105257156Link copiedShareShare articleLocal shares have opened fairly flat this morning after US stocks fell overnight. Australia's Future Fund has posted investment returns of 7.9 per cent in the past year. WiseTech global is warning of headwinds due to US tariffs.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.Key EventsWiseTech shares fall1h ago1 hours agoTue 6 May 2025 at 12:55amMorning markets1h ago1 hours agoTue 6 May 2025 at 12:27amAn update on Australia's Future Fund2h ago2 hours agoTue 6 May 2025 at 12:07amShow all key eventsSubmit a comment or question Log in to commentLive updatesLatestOldestPinned6m agoTue 6 May 2025 at 2:17amMarket snapshotGBy Gareth HutchensASX 200: -0.17% to 8,144 points (live numbers below)Australian dollar: -0.22% to 64.52 US centsS&P 500: -0.6% to 5,650 pointsNasdaq: -0.7% to 17,844 pointsFTSE: +1.2% to 8,596 pointsEuroStoxx 600: +0.2% to 537 pointsSpot gold: +1.41% $US3,380/ounceBrent crude: -0.44% $US61.67/barrelIron ore: $US97.41/tonneBitcoin: -0.03% to $94,232Prices current around 12:15pm AESTLive updates on major ASX indices:Copy link15m agoTue 6 May 2025 at 2:08amDeclining LNG prices are the downside for Australia from crude oil's fallMBy Michael JandaWhile falling oil prices will soon benefit Australian motorists, they are not great news for energy producers or the potential tax revenue (what there is of it) from those exports.CBA's commodities analyst Vivek Dhar says LNG swap futures for delivery to North Asia are down 25% over the past three months from a peak of nearly $US15/mmbtu on February 14 to $US11.30/mmbtu."Spot LNG demand has weakened on the back of global trade tensions following the increase in US tariffs," Dhar writes in his daily note."Industry accounts for a sizable share of Asian gas consumption, suggesting that any slowdown in economic growth from the US–China trade war will weigh more heavily on Asian LNG import demand. Asia accounted for ~68% of LNG import demand in 2024."Asia's LNG imports have declined 6%/yr in the first four months of the year. Headlining the decline has been the ~24%/yr fall in China's LNG imports from January to April. China accounted for ~19% of global LNG imports last year. The weakness has been attributed to ample LNG stockpiles as well as rising local gas supply and strong pipeline gas imports. LNG is typically the most expensive way to source gas and helps explain why Bloomberg New Energy Finance (BNEF) expects China's LNG imports will fall ~12% this year, despite a 1 2% increase in China's gas demand."However, Dhar says there is hope for a recovery in gas prices as Europe looks to rebuild its stockpiles of gas ahead of next winter."The fall in LNG spot prices has happened despite unplanned outages in Malaysia (i.e. Petronas' Bintulu export facility), Australia (i.e. Ichthys LNG) and Brunei (i.e. Brunei LNG) — underscoring how dominant weak demand has become," he explains."The biggest impact of weaker Asian LNG import demand though has been the availability of LNG to boost storage levels in Europe. Western Europe's LNG imports, which accounted for ~20% of global LNG imports last year, have increased ~18%/yr in the first four months of the year."Europe's gas storage levels are currently ~41% of capacity, below the 5 year average of ~51% for this time of year. BNEF assumes that the impact of US tariffs will see Europe's gas storage levels rise to 88% of capacity by the start of the upcoming winter season (1 October 2025)."CBA expects LNG spot prices to recover to $US13-14/mmbtu in the second half of the year, especially if there is any major stimulus announcement from China to mitigate the impact of US tariffs.Copy link37m agoTue 6 May 2025 at 1:45amDwelling approvals fall in March by 8.8pcGBy Gareth HutchensThe total number of dwellings approved fell by 8.8% in March.Brock Hermans, ABS head of construction statistics, said falls were seen across all dwelling types in March.Private dwellings excluding houses down 15.1 per cent, and private sector houses 4.5 per cent lower.The value of total residential building fell 7.6%, to $8.98 billion, but the value of non-residential building rose 46%, to $6.61 billion.Copy link58m agoTue 6 May 2025 at 1:24amASX website downEBy Emily StewartIf you've been trying to check the ASX website today, you might be having trouble.This is the message I have been seeing at various times today.ASX websiteFortunately, the ABC also uses a piece of financial software to see what's happening on financial markets, so we will continue to keep you informed!Copy link1h agoTue 6 May 2025 at 1:14amPetrol lifts 0.1 cents in a weekDBy Daniel ZifferHi team,Just jumping in with the new data on pump prices.(In tabloid parlance, this is PETROL PAIN or BOWSER BITE)Well it would be except that crude oil prices have fallen substantially this year, leading to cheaper prices for refined products like unleaded.The national average price of a litre of unleaded petrol inched +0.1 cents to 178.2 cents in the week to Sunday.Weekly data from the Australian Institute of Petroleum details the movement, which still puts the average below the 12-month average figure of 183.8 cents and on current trends seemingly set to go lower.Copy linkKey Event1h agoTue 6 May 2025 at 12:55amWiseTech shares fallEBy Emily StewartShares in logistics software giant WiseTech Global have fallen -3.6 per cent after the company provided an overview of its business and strategy at the Macquarie Australia Conference.In published reference materials, WiseTech says global uncertainty and macroeconomic conditions relating to US trade tariffs, may be a headwind for the remainder of the financial year.Global container volumes are projected to fall 1 per cent in 2025 (in contrast to the 5 per cent growth in 2024).It's been a tumultuous year so far for the company.Four independent directors stepped down from the board in February, citing differing views around the role of CEO Richard White. Mr White, who founded the company, stepped down as CEO, however returned earlier this year as the executive chairman.Today, the company confirmed a shortlist of candidates for the CEO role is being finalised, with an appointment expected prior to the AGM in November.The board is also interviewing additional directors.Copy link1h agoTue 6 May 2025 at 12:48amTwo weeks until the RBA's interest rate decisionSBy Stephanie ChalmersThe Reserve Bank's monetary policy board will hand down its next interest rate decision in a fortnight's time, at 2:30pm AEST on May 20.Market pricing is pointing to a 25 basis points cut to the cash rate in May as a near-certainty, but one of the major bank economics teams is still expecting a 50 basis points cut.Here's where their forecasts stand:NAB: 50bps cut in May, followed by 25bps cuts in July, August, November and February 2026ANZ: 25bps cuts in May, July and AugustCBA: three more 25bps cuts in 2025, one each quarterWestpac: 25bps cut in May, two more "pencilled in" for August and NovemberCopy linkKey Event1h agoTue 6 May 2025 at 12:27amMorning marketsEBy Emily StewartLocal markets have opened pretty much flat.The ASX200 is down -0.04 per cent to 8,157 points and the broader All Ordinaries is down the same to 8,374 points (as at 10:18am AEST).Futures were trading down this morning, after Wall Street's major indexes closed in the red.The US Federal Reserve is expected to keep interest rates on hold when it meets this week.Back to Australian markets, this is what the sectors are doing:ASX200 Sector Summary (Eikon)So far the top performing stocks have been Clarity Pharmaceuticals and DigiCo Infrastructure.The worst performing stocks are Endeavour Group and A2 Milk Company.Top and bottom movers (Eikon )Copy link2h agoTue 6 May 2025 at 12:17amMarket snapshot at the openEBy Emily StewartASX 200: Flat at 8,157 pointsAll Ords: Flat at 8,374 pointsAustralian dollar: -0.1% to 64.57 US centsS&P 500: -0.6% to 5,650 pointsNasdaq: -0.7% to 17,844 pointsFTSE: +1.2% to 8,596 pointsEuroStoxx 600: +0.2% to 537 pointsSpot gold: Flat at $US3,331/ounceBrent crude: -1.6% $US60.33/barrelIron ore: -0.3% to $US97.35/tonneBitcoin: +0.4% to $94,700Prices current around 10:15am AESTCopy linkKey Event2h agoTue 6 May 2025 at 12:07amAn update on Australia's Future FundEBy Emily StewartAustralia's sovereign wealth fund, called the Future Fund, has released its results for the past year.Key information includes:Investment returns of 7.9% for the past 12 months to 31 March 2025$17.8 billion added to the value of the fund in the past yearTotal funds under management has grown to $307.6 billion10-year return of 7.5 %, exceeds mandated target of 6.9% per annum"This was a strong result that reflects the work we have been doing for the past four years to ensure the portfolio is resilient and flexible to a range of scenarios," said Dr Raphael Arndt, Future Fund CEO.The Future Fund was established in 2006 in order to invest for the benefit of future generations of Australians.It's the country's single largest financial asset.Chief investment Officer Ben Samild said there were strong contributions to performance from the Alternatives, Credit, Infrastructure and Timberland asset classes."Returns also benefited from changes to our currency mix and exposure to commodities, including gold."Despite difficult market conditions, Dr Arndt said the portfolio has behaved in line with expectations."We are seeing consequential changes in geopolitical, economic and market environments at the moment and that is causing volatility and uncertainty for investors," said Dr Arndt."Our expectation is that these conditions will lead to higher inflation and bond yields for an extended period."Copy link2h agoMon 5 May 2025 at 11:56pmCan you maximise your offset account by using a credit card?EBy Emily StewartMost people who utilise an offset account with their mortgage aim to reduce the interest they pay on their home loan by parking as much cash as possible in the offset.In order to do this, some use a credit card to pay all their regular expenses.So how does it work and is it a good idea?You can read more here:Can you maximise your offset account with a credit card?Copy link2h agoMon 5 May 2025 at 11:36pmBuying a second-hand electric vehicle?EBy Emily StewartElectric vehicles are growing in popularity, fuelled by government subsidies and fleet sales.As new car sales grow, it means more EVs are starting to filter through to the used-car market.So, what should prospective buyers consider before they make a purchase?Battery quality is usually the biggest concern.You can read more about it here:Buying a second-hand EV? Here's what to know about battery qualityCopy link3h agoMon 5 May 2025 at 11:20pm📹 ICYMI: Westpac delivers disappointing half-year resultsSBy Stephanie ChalmersIn case you missed it, Westpac yesterday reported a 1 per cent drop in profit to $3.5 billion for the first half of the financial year.The company's cash profit, its preferred measure which strips out one-off issues, was $3.3 billion, slightly lower than consensus estimates.Shares dropped 3 per cent on Monday, alongside falls of a lesser magnitude for its peers.Montgomery Investment Management's Roger Montgomery told The Business Westpac's disappointing results came from pressure on net interest margins, with most of that pressure coming from competition from other banks.Catch up on the interview with Kirsten Aiken:Loading...NAB will report its half-year results tomorrow, followed by ANZ on Thursday, and a quarterly update from CBA on Wednesday next week.Copy linkKey Event3h agoMon 5 May 2025 at 11:06pmSeven to buy remaining Southern Cross TV assetsSBy Stephanie ChalmersA bit of media deal news hitting the ASX this morning, with Seven West Media to buy Southern Cross Media's remaining television assets.Seven will acquire the television licences and associated operations in Tasmania, Spencer Gulf, Broken Hill, Mt Isa, Darwin and "Remote, Central and Eastern Australia'"Seven currently broadcasts on these licences under an affiliate deal."The acquisition largely completes SWM's national broadcast network and opens new markets to Seven where the powerful offering of digital television — both live and [Video on Demand] — on 7plus complements the Seven broadcast signal," Seven West Media said in a statement.It will pay $3.75 million cash and the deal is expected to be completed by June 30.Southern Cross had previously proposed a sale of the TV assets to Australian Digital Holdings, but negotiations fell through.The sale to Seven will see Southern Cross completely out of television and focused on audio.Copy link3h agoMon 5 May 2025 at 10:55pmA choice between Beijing or Washington looms for AustraliaSBy Stephanie ChalmersA thumping electoral victory just as the domestic economic indicators have begun to head in all the right directions.That's the kind of scenario politicians universally, and certainly prime ministers, can only dream of, writes chief business correspondent Ian Verrender.As early as Sunday morning, just hours after the polls had closed, business leaders and politicians already had turned their gaze on how best to revive flagging productivity and narrowing the federal deficit.But deeper threats are likely to dominate and define the next three years of the Albanese government as the Trump administration attempts to unwind 80 years of an economic, trade and diplomatic world order.Read the full analysis here:The world is becoming a dangerous place. Australia is caught in the middleCopy linkKey Event3h agoMon 5 May 2025 at 10:44pmHungry Jack's fined by ACCC over button battery failuresMBy Michael JandaFast food giant Hungry Jack's has paid penalties totalling $150,240 for eight breaches of button battery information requirements.The penalties imposed by the Australian Competition and Consumer Commission relate to Garfield toys distributed as part of a promotion last year.Between May 20 and May 30 last year, Hungry Jack's supplied 27,850 of the Garfield toys with its children's meals.The ACCC said, while the Garfield toy complied with the button battery safety standard, the chain did not advise consumers that it contained button batteries, nor provide relevant warnings about the potentially fatal hazards these pose, or advice about what to do if a child ingested one.Hungry Jack's agreed to a court enforceable undertaking admitting the toy likely failed to meet the button battery information standard.Hungry Jack's has recalled the toys, which can be swapped for a non-battery replacement at the fast food chain's outlets, the ACCC said."Button batteries are extremely dangerous for young children and tragically, children have been seriously injured or died from swallowing or ingesting them," ACCC deputy chair Catriona Lowe said in a statement.If swallowed, button batteries can become lodged in a child's throat, with resulting chemical burns resulting in serious injuries or even death within as little as a couple of hours.The ACCC says three child deaths have been recorded in Australia as the result of button batteries, while more than one child a month is injured.Alison Branley and Michael Atkin from the ABC's Specialist Reporting Team had this detailed report last year on the dangers of button batteries.Academics, parents call for redesign of deadly button batteriesCopy link3h agoMon 5 May 2025 at 10:26pmThe Taiwan dollar is surging. Here's whyMBy Michael JandaThere's been a lot of speculation in the Taiwan dollar over the past couple of days, pushing it up more than 7% to a three-year high.It's unusual for a developed economy's currency to move so dramatically.NAB's senior markets economist Taylor Nugent says it appears the speculation has been based on, well, speculation."A confluence of rising hopes of a trade deal with China, speculation that a stronger TWD could be part of trade discussions with the US, and chatter around a rush to reduce exposures by local exporters in Taiwan and life insurers (which tend to be under-hedged on their US debt holdings)," he writes."Bloomberg reports that Taiwan's monetary authority hadn't been seen aggressively intervening in the market Monday to limit the TWD's strength, though it typically does so to smooth out volatility."Officials pushed back on the currency being part of trade talks. President Lai said the currency would "naturally not be mentioned in the negotiations between Taiwan and the United States," the central bank urged against speculation, and the office of trade negotiations said that it had wrapped up a first round of tariff-reduction negotiations with the US and that the talks did not touch upon the issue of foreign exchange policy."The Australian dollar also has gained against the greenback, but far less spectacularly.It was up around half a cent overnight to 64.67 US cents.Copy link4h agoMon 5 May 2025 at 10:17pmWhen is the next RBA meeting? Not todaySBy Stephanie ChalmersIt's the first Tuesday of the month, so you could be forgiven for thinking it's a Reserve Bank interest rate decision day, after years of conditioning.But with the RBA monetary policy board now meeting less frequently, the next meeting doesn't kick off until Monday May 19.The RBA will deliver its interest rate decision on Tuesday May 20 at 2:30pm AEST — so two weeks to go.Markets are currently pricing in a 97 per cent chance of a 25 basis point cut, according to LSEG.Here's the schedule for the rest of the year:Board Meeting SchedulesCopy link4h agoMon 5 May 2025 at 10:06pmWatch: the economic challenges facing re-elected Labor governmentSBy Stephanie ChalmersFears of a US recession and a global slowdown caused by Donald Trump's tariffs and trade war with China are hitting business confidence, hiring and investment plans.It sets a challenging economic backdrop for the re-elected Albanese government and is a major priority, with the Treasurer receiving a briefing on the trade war over the weekend.Business reporter Rhiana Whitson spoke to economists and business groups about how the uncertainty is already having an impact.Watch the report from The Business:Loading...Copy linkKey Event4h agoMon 5 May 2025 at 9:52pmOil slumps as production hikes continueSBy Stephanie ChalmersOil prices have faced pressure after Organisation of the Petroleum Exporting Countries and other oil-producing nations' (referred to as OPEC+) decided to add further to supply, as Donald Trump's tariffs hit the demand outlook.Here's what ANZ Research analysts Brian Martin & Daniel Hynes make of the outlook:"The higher-than-expected rise in supply comes amid darkening clouds over the global economy."President Trump's trade war threatens to derail the economic growth that emerged late last year."This sets the scene for ongoing downward pressure for oil prices."Copy linkShow more postsPosted 4h ago4 hours agoMon 5 May 2025 at 9:40pm, updated 1h ago1 hours agoTue 6 May 2025 at 1:19amShare optionsCopy linkFacebookX (formerly Twitter)TimelineRead nextCommentsTimelineKey EventsLatestCommoditiesEnergyEconomyRBAMarket snapshotCompany newsResultsAnalysisMarketsLaborWiseTech shares fall1h ago1 hours agoTue 6 May 2025 at 12:55amMorning markets1h ago1 hours agoTue 6 May 2025 at 12:27amAn update on Australia's Future Fund2h ago2 hours agoTue 6 May 2025 at 12:07amSeven to buy remaining Southern Cross TV assets3h ago3 hours agoMon 5 May 2025 at 11:06pmHungry Jack's fined by ACCC over button battery failures3h ago3 hours agoMon 5 May 2025 at 10:44pmOil slumps as production hikes continue4h ago4 hours agoMon 5 May 2025 at 9:52pmASX to slip as Wall Street's 9-session winning streak ends4h ago4 hours agoMon 5 May 2025 at 9:26pmTop StoriesNationals deputy leader 'shattered' she will likely lose Senate seatTopic:ElectionsPhoto shows Perin Davey listens to a press conference by Water Minister Tanya Plibersek at Parliament HouseGreens' Adam Bandt in danger as seat of Melbourne remains on knife's edgeTopic:ElectionsSolar uptake a clue to why Australians chose batteries over nuclearTopic:Energy PolicySurviving lunch guest describes fatal mushroom meal to courtTopic:Law, Crime and JusticeThe timeline prosecutors allege in the mushroom murder trialTopic:ExplainerJust InWhy the head of one of the world's best orchestras still worries about scalesTopic:Classical Music20m ago20 minutes agoTue 6 May 2025 at 2:02amFormer AFLW All Australian says 2025 season opener honours traditionTopic:AFL Women’s25m ago25 minutes agoTue 6 May 2025 at 1:58am'This game's not going to go our way': NBA star crashes social game in MelbourneTopic:Basketball39m ago39 minutes agoTue 6 May 2025 at 1:44amNew top cop Mike Bush to make significant changes to Victoria PoliceTopic:Police6m ago6 minutes agoTue 6 May 2025 at 2:17amMore Just InBack to top