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ASX to dip as bank ditches hated fees

Lucy Dean
·2-min read
Australian one hundred dollar bills.
Australian one hundred dollar bills.

Good morning.

Here’s Yahoo Finance’s Friday morning wrap.

ASX: The Australian share market is expected to open lower on Friday after Thanksgiving celebrations paused trading in the USA.

It comes after a slow day for the ASX on Thursday, when the S&P/ASX200 benchmark index closed lower by 46.9 points, or 0.7 per cent, to 6636.4.

The All Ordinaries closed down 39.4 points, or 0.57 per cent, to 6848.8.

Black Friday: Australia Post is buckling up for what it predicts will be the biggest weekend in Australian e-commerce history. But what is Black Friday, and where did it come from?

Scam warning: Shoppers hoping to take advantage of the weekend’s sales have been warned to stay alert to scams, as one scam has nearly doubled in its danger.

Animal spirits: The outlook for business investment remains weak and Australia’s economists are concerned.

RBC Capital Markets head of strategy Su-Lin Ong said animal spirits have “yet to stir much”.

"Given the tumultuous year that 2020 has been, coupled with still ongoing uncertainty, it may well take some time before policy measures designed to support investment garner more traction and it will also demand sustained business confidence."

Bega Cheese: Bega Cheese will buy Japanese company Lion Dairy for $534 million in a move which the company says will help it move into the beer market.

Disney: The entertainment giant will make 32,000 workers redundant as the USA’s battle with coronavirus continues to keep Disney’s resort business down.

Hated fees: And Suncorp is removing or reducing several hated banking fees. These include dishonour fees, interest certificate fees and payment honour fees.

With AAP.

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