Markets

‘One of the best times in a long time to buy quality’.

The RBA has scrapped a hidden fee that was costing Australians $1.6bn a year in a major change for shoppers – but there’s a catch.

Markets are still being driven by headlines around the Middle East war.

Australian investors have welcomed news of a possible path to peace that will end a month of bombings across the Middle East, sending the S&P-ASX200 sharply higher.

Homegrown software giant Atlassian tumbled another 8 per cent overnight, although some investors think its 70 per cent collapse is overdone.

Shares in KMD Brands closed higher after it rejected a proposal from a US surfwear company to demerge its Rip Curl business, saying the move would create no value for investors.

A battered Australian share market opened sharply higher on Tuesday after Donald Trump revealed he had ordered the military to postpone strikes against Iranian power plants.

‘Someone with access to privileged information appears to have made hundreds of millions in profit by trading on a political secret before it became public.’

Benchmark prices fell 9 per cent to around $US97.50 after US President Donald Trump gave Iran five days to respond to peace talks.

The ASX is edging closer to a market correction as tens of billions of dollars were wiped off the Australian bourse in the opening minutes of trade on Monday.

TOM RICHARDSON: Share market investors may be too complacent about a crash. Sinking bonds and other indicators point to deep economic pain ahead.

Vik Bansal, the man credited with transforming Boral into a leaner, Australia-focused building materials business, is giving up the job of chief executive but will remain a key part of its next phase of growth.

Some ASX-listed gold miners will bear the brunt of higher fuel prices far worse than others, according to fresh analysis.

Falling sales at struggling kids stationery brand Smiggle has dragged down first-half profit at retail king Solomon Lew’s Premier Investments.

The S&P-ASX200 index has fallen 1.6 per cent and is on track for its lowest close in four months.