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The S&P/ASX 200 closed 21.6 points lower, down 0.28%.
The S&P/ASX 200 (XJO) fell 21.6 points to 7,766.7, its session low. Advancers trailed decliners 75 to 199 in the S&P/ASX 300 (XKO). Low close and broad-based move = Poor performance 👎.
Only two of the 11 major sectors rose today, and not much. In a weak sector, The A2 Milk Company (ASX: A2M) (+1.0%) and Treasury Wine Estates (ASX: TWE) (+0.69%) helped Consumer Staples (XSJ) (+0.19%).
Real Estate Investment Trusts (XPJ) (+0.04%) rose less, but the sector move was stronger. News-related falls in Lendlease Group (ASX: LLC) (-1.9%), HMC Capital (ASX: HMC) (-1.9%), and sector heavyweight Goodman Group (ASX: GMG) (-0.6%) offset general gains. [Read more]
💡Here are a few headlines from this morning:
A warning that customers should never be fooled into downloading any software or programme over the phone has been issued in response to a dramatic rise in losses caused by remote access scams.
In a bold move, Andrew Giles, the immigration minister, has cancelled the visa of a Sudanese murderer. He is seeking urgent advice on other cancellations.
Following police orders to disperse by Tuesday at noon, student demonstrators in Canberra relocated their pro-Palestine camp.
🗳️ HEADSTART
Greens Urge Labor to Back Palestinian Statehood Recognition.
The Greens say Labour must support Palestinian statehood in a vote tomorrow after the devastating attack on a Palestinian refugee camp in Rafah. Failure to do so would be inexcusable and a broken promise by Labour. Norway, Ireland, and Spain will recognise Palestine tomorrow.
The motion simply states that the House recognises Palestine. Australia can join 143 other nations in recognition without additional steps.
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🔥 HOT COPY
Penny Wong Speaks Out Against "Horrific" Death Toll in Rafah.
The foreign minister, Penny Wong, called the “death and destruction” in Rafah “horrific” and told the Israeli government, “This cannot continue.”
This afternoon's Senate estimates hearing on the Department of the Prime Minister and Cabinet features Wong representing the government.
In her opening statement, Wong references the Israeli airstrike that set a tented area for displaced Palestinians in Rafah, southern Gaza, on fire, killing 45 people.
🛒 MARKET EDGE
ABS Reports 0.1% Rise in Australian Retail Turnover for April.
The Australian Bureau of Statistics (ABS) released seasonally adjusted data today showing a 0.1% increase in retail turnover in Australia in April 2024.
This came after a 0.2% increase in February 2024 and a 0.4% decrease in March 2024.
"Underlying retail spending continues to be weak with a small rise in turnover in April not enough to make up for a fall in March," stated Ben Dorber, ABS head of retail statistics.
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🌎 World Tonight
🇰🇵 Norther Korea. North Korea's latest satellite launch exploded in a fireball and fell into the Yellow Sea minutes after launch, but analysts say it showed new space advances.
🇵🇬 Papua New Guinea. The South Pacific island nation of Papua New Guinea reported that more than 2,000 people were buried alive in a landslip in the early hours of Friday morning when Yambali was asleep.
🇵🇰 Pakistan. On Monday, Pakistan's met office reported that Sindh's temperatures reached 52 degrees Celsius (125.6 degrees Fahrenheit), the highest of the summer and close to the country's record high amid a heat wave.
🇻🇦 Vatican City. Pope Francis is accused of using derogatory language, which could affect his view of gay people.
🇪🇸 Spain. Spain, Norway, and Ireland recognised a Palestinian state on Tuesday in a coordinated move.
🏅VIEWPOINT 360
The ICC is no place to play politics
By Tamer Morris, The University of Sydney in Sydney
Reaction to the ICC’s potential arrest warrants for Hamas and Israeli leaders focus too much on the accused and not enough on what they're accused of.
On Monday, May 20, 2024, International Criminal Court's (ICC) Prosecutor Karim Khan announced that his Office has applied for arrest warrants for key figures from Israel and Hamas, including Israeli Prime Minister Benjamin Netanyahu and Hamas leader Yahya Sinwar.
Alongside the warrants was a report from a panel of international law experts, which unanimously supported the ICC's application, and noted that more crimes were under investigation which was "expected to lead to additional applications in the future". [Read more]
📰 Good News, Inspiring, Positive Stories
Is the key to fighting bee disease hiding in the honey?
Gopika Kottantharayil Bhasi loves honey. Not because it tastes good, or its many health benefits, but because it holds the secrets to the health of bees.
Gopika is the first recipient of the Shah Rukh Khan La Trobe University PhD Scholarship, established in recognition of the Bollywood actor who was presented an Honorary Doctorate at the University in 2019. The scholarship is made possible by the University’s long-standing partnership with the Indian Film Festival of Melbourne.
After a two-year delay due to COVID travel restrictions, Gopika arrived in Melbourne in early 2022 and is now halfway through her three-year PhD studying diseases in bees, with the aim of developing a fast and low cost way to diagnose diseases through honey. [Read more]
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