Tumbling miners lead ASX to a down week

Tumbling miners lead ASX to a down week

The ASX 200 closed 0.7% lower on Friday, extending its weekly decline to 1.2%, as mining stocks came under pressure from a three-month low in iron ore prices. Fortescue, BHP and Rio Tinto all fell, while the major banks also weakened. Bucking the trend was healthcare giant CSL, which jumped 5.8% for its strongest gain in more than four years. SBS Finance Editor Ricardo Gonçalves speaks with Blueberry Markets analyst Zoran Kresovic about the forces driving the market and what investors are watching next.

Budget hangs in the balance amid questions over tax and the NDIS

The Federal Government, Greens and Coalition are gridlocked over post-budget measures on tax and the NDIS - with just one sitting fortnight remaining before Parliament rises for a five-week Winter break. As negotiations continue, participants in the NDIS are facing an anxious wait, with the scheme set for a major overhaul, including significant cuts.

Hezbollah rejects renewed ceasefire in Lebanon as Trump maintains the deal holds

Hezbollah has rejected a US-backed renewed ceasefire deal between Israel and Lebanon. The leader of the Iranian-backed group says the terms were negotiated in talks that they were excluded from - and they amount to surrender. Hezbollah has rejected a US-backed renewed ceasefire deal between Israel and Lebanon. The leader of the Iranian-backed group says the terms were negotiated in talks that they were excluded from - and they amount to surrender.

SpaceX’s mega IPO lands as miners drag the market lower

Elon Musk has revealed plans for a potentially record-breaking IPO of SpaceX, with Australian retail investors set to get access to the offer. Stephanie Youssef speaks with Datt Capital Chief Investment Officer Emanuel Datt about the opportunity and the risks for investors. Plus, the Australian sharemarket falls 1.1 per cent as mining stocks lead the losses, with Robert Talevski from Activam Group breaking down the day’s market moves and what drove the sell-off.

Queensland children under five to be removed from residential state care

A Queensland Commission of Inquiry has delivered a damning report into the state's child protection system. It detailed evidence of sexual abuse in residential care settings, and delivered 52 recommendations.The government has announced it will remove all children under five from residential care, and respond to the recommendations within two months.