Australian shares have enjoyed a modest bounce as investors moved back into the big banks and miners after fears around the impact of a potential US interest rate hike eased.
Gains in the miners as well as in three of the big four banks provided the bulk of the heavy lifting on the S&P/ASX 200, which ended the session up 9 points, or 0.2 per cent, at 5478.3 after wilting a bit in late trade.
The Bank of Japan could announce a “massive stimulus program” as the nation seeks to reach a 2 per cent inflation target.
Shareholders in Resolute Mining will have the option of collecting dividend payments in gold bullion, under a new policy believed to be the first of its kind in the world.
The gold miner announced it would resume dividend payments, declaring a 1.7¢ per share final dividend for the 2016 financial year under a new gold sales-linked dividend policy.
Resolute, which has not paid consistent dividends since the late 1990s, joined a group of local gold miners reinstating or raising dividends amid the best conditions the sector has enjoyed in recent years. But with a twist.
Shareholders who hold 5000 or more shares in the company can elect to receive dividends in gold bullion paid into a personal account held with The Perth Mint.
Estia Health is turning into a real dog, slumping for a second day after analysts dropped their price targets on the company which operates and develops aged care facilities around Australia.
Coca-Cola Amatil shares have jumped to their highest in nearly 15 months after Deutsche Bank upgraded the stock to ‘buy’ from ‘hold and raised the target price to $10.
US wheat futures have dropped to 10-year lows, as ample global stocks and a regulatory clamp-down from the world’s largest buyer of the grain dragged on prices.
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