By Alex Druce
Australian retail turnover fell 1.8 per cent in June as coronavirus lockdowns came back into place across major cities
Retail spending fell by $575.1 million for the month according to seasonally adjusted figures released this morning by the Australian Bureau of Statistics, with the $30.58 billion monthly spend the lowest since February.
Victoria’s spending was down 3.5 per cent and leading the state falls. Victoria’s lockdowns were gradually eased from June 11, having been put in place in May.
Lockdowns sapped June retail spending by more than $500 million
Credit:SMH
New South Wales, in particular Greater Sydney, saw stay-at-home orders issued towards the end of the month. Trade fell 2 per cent in the state.
Lendlease (ASX:LLC) share price edges higher on divestment news
Lendlease is on track for a massive pay day.
Aaron Teboneras has been a Motley Fool contributor since early August 2020. After graduating from RMIT University with a Business degree, Aaron spent most of his years either travelling or working in various industries. Aaron’s most notable appointments include National Australia Bank, and Computershare where he discovered his passion for the Australian sharemarket. Outside of researching and writing for Motley Fool, Aaron enjoys trekking on adventures across the world and learning new life skills.
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The
Service Stream Limited (ASX: SSM) share price isn’t going anywhere today. This comes after the essential network services provider entered into a trading halt early this morning on the ASX.
Looking at yesterday’s market close, Service Stream shares last traded at 96 cents.
Why did Service Stream put a halt on its shares?
In today’s statement, Service Stream advised it is launching a capital raise to acquire 100% of Lendlease Services Pty Ltd.
A subsidiary of parent company,
Lendlease Group (ASX: LLC), the Services business is a leading provider of essential network services across telecommunications, utilities and transportation sectors. This includes wireless and fixed-line network infrastructure, maintenance of electricity, water, and industrial assets, as well as roads and tunnels.
An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call Extra Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the Extra Edition will not be updated daily, but merely regularly depending on availability of suitable quality content. As such, the Extra Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Why the Service Stream (ASX:SSM) share price is surging 5% today fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.