Market snapshot
- ASX SPI Futures: -0.1% to 8,241 points
- Australian dollar: -0.7% to 62.98 US cents
- S&P 500: -0.1% to 5,951 points
- Nasdaq: Flat at 19,038 points
- FTSE: +0.7% to 8,731 points
- EuroStoxx 50: +1.5% to 5,528 points
- Spot gold: –0.1% to $US2,913/ounce
- Brent crude: -0.3% to $US72.83/barrel
- Bitcoin: -6.5% to $US82,951
Prices correct around 7.20am AEDT
Australia’s attachment to Qantas has long passed
Today’s announcement by the treasurer that Qatar can go ahead with its stake in Virgin has a controversial background.
Our chief business correspondent Ian Verrender wrote a column late last year on what it all means for travellers and for national carrier Qantas:
Nvidia to set the tone
Stocks in the US inched lower on Wednesday local time and saw the S&P 500 slip for a fifth day in a row.
The Dow dropped -0.4% and the tech-heavy Nasdaq rose +0.1%.
Shares in Nvidia rose +2.9% ahead of its earnings report that is due just after the bell on Wall St.
Nvidia’s results are likely to set the tone for the AI sector going forward after the launch of low-cost, Chinese AI chatbot DeepSeek threw the sector into a panic last month.
Qatar Airways acquires 25% stake in Virgin Australia
The federal government has approved Qatar Airways acquisition of a 25% stake in Virgin Australia.
In a statement, Treasurer Jim Chalmers said the deal was subject to enforceable condition and that he expects the deal to boost competition.
Last week, the Foreign Investment Review Board approved the deal and said it aligned with Australia’s national interests.
A key aspect of the agreement includes an integrated alliance between Qatar Airways and Virgin Australia, sanctioned by the Australian Competition and Consumer Commission (ACCC) for five years.
This collaboration will introduce 28 new, weekly return flights between Doha and major Australian cities, including Perth, Brisbane, Sydney, and Melbourne.
To safeguard Australian interests, Mr Chalmers announced there would be legally binding conditions on the acquisition including:
- Australian representation on Virgin Australia’s board to maintain local oversight.
- Protection of customer data to uphold privacy and security standards.
Virgin pilots and cabin crew will also travel to Doha for training in long-haul flying.
Good morning!
Good morning and welcome to the ABC’s markets blog.
This is Rachel Clayton and I’ll be here to take you through the morning.
It’ll be another big day for results.
Nvidia’s quarterly results are due just after 8:00am AEDT.
Qantas CEO Vanessa Hudson will hold a press conference later this morning in Melbourne on the company’s half year financial results.
Coles is also due, a day after Woolies reported disappointing figures.
And embattled casino operator Star Entertainment will also reveal how it’s tracking financially so stay tuned! We’ll bring you everything you need to know.
