Australian market news

Here are some recent news articles and updates from the Australian market:

Stock Market:

• The S&P/ASX 200 index closed 0.4% higher at 7,444.8 points on Friday, driven by gains in the financial and materials sectors. (Source: The Australian)
• The Australian dollar fell 0.4% against the US dollar to 71.45 cents, weighed down by a decline in iron ore prices. (Source: The Sydney Morning Herald)

Economy:

• The Australian economy grew at an annual pace of 2.1% in the September quarter, slightly above expectations. (Source: The Australian)
• The Reserve Bank of Australia (RBA) kept interest rates unchanged at 0.75% at its November meeting, citing the economy's moderate growth and low inflation. (Source: The Sydney Morning Herald)

Company News:

• Woolworths Group, the parent company of Woolworths supermarkets, reported a 3.1% increase in first-half profit to $1.23 billion, driven by strong sales growth. (Source: The Australian)
• Qantas Airways reported a 23% increase in first-half profit to $1.1 billion, driven by strong demand and cost savings. (Source: The Sydney Morning Herald)

Regulatory News:

• The Australian Securities and Investments Commission (ASIC) has launched an investigation into the collapse of collapsed lender, Yellow Brick Road. (Source: The Australian)
• The Australian Prudential Regulation Authority (APRA) has imposed a $1.3 million fine on Westpac Banking Corp for breaching anti-money laundering and counter-terrorism financing laws. (Source: The Sydney Morning Herald)

Market Trends:

• The Australian market is expected to remain volatile in the short term, with investors awaiting clarity on the US-China trade deal and the impact of the COVID-19 pandemic on the global economy. (Source: The Australian)
• The materials sector is expected to remain a key driver of the market, with iron ore prices expected to remain strong due to strong demand from China. (Source: The Sydney Morning Herald)