Weekly market update – week ending 28 August, 2020

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Investment markets and key developments over the past week Global share markets rose over the past week helped by continuing signs of economic recovery, positive coronavirus vaccine and treatment news and anticipation of the Fed’s shift to inflation average targeting. Australian shares fell slightly though over the past week reflecting poor earnings results with weakness

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Weekly market update – week ending 21 August, 2020

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Investment markets and key developments over the past week Share markets were mixed over the last week. US shares rose slightly but have been constrained around their February record high and Chinese shares rose but Eurozone and Japanese shares fell after strong gains in the previous week. Australian shares were little changed reflecting the mixed

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Weekly market update – week ending 14 August, 2020

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Investment markets and key developments over the past week Major global share markets, with the exception of Chinese shares, rose over the last week as US new coronavirus cases trended down and on optimism regarding a vaccine and the economic outlook. US shares briefly surpassed their February closing high and rose 0.6% for the week.

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AMP announces 1H 20 results and return of capital

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1H 20 results 1H 20 underlying profit[1] of A$149 million (1H 19: A$256 million) reflects COVID-19 impacts, as previously advised. 1H 20 net profit attributable to shareholders of A$203 million. Business unit 1H 20 operating earnings affected by COVID-19: Australian wealth management A$59 million (-43 per cent); AMP Capital A$72 million (-40 per cent); AMP

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Weekly market update – week ending 7 August, 2020

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Investment markets and key developments over the past week Share markets generally rose over the last week helped by a combination of better than expected earnings in the US, good economic data and positive vaccine news. This saw the US share market push up to just 1% below its February high. The positive global lead

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AMP Australia leadership update

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AMP has announced that Alex Wade, CEO of AMP Australia, will step down from his role, effective immediately. AMP has accepted the resignation and confirms Mr Wade will leave the business. Blair Vernon, CEO of New Zealand Wealth Management (NZWM), has been appointed Acting CEO of AMP Australia while a process is conducted to find

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Kylie O’Connor to head AMP Capital’s real estate business

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AMP Capital has announced Kylie O’Connor has been promoted to lead its real estate business and will join the leadership group.  Ms O’Connor is currently AMP Capital Real Estate’s Chief Operating Officer and Managing Director of Separate Accounts and will replace Carmel Hourigan who is leaving the business. As Head of Real Estate, Ms O’Connor

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AMP launches MyNorth IndexPlus managed portfolios

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AMP has further strengthened its managed portfolios offer for advisers and clients, launching the IndexPlus managed portfolio range. The new portfolios are delivered through AMP’s flagship wrap platform, MyNorth, and are available to super, pension and investment clients. They blend low-fee, low-turnover index-based investments with actively managed strategies, providing a diverse and cost-efficient investment solution. Shaune Egan,

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Weekly market update – week ending 31 July, 2020

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Investment markets and key developments over the past week Share markets were mixed over the last week with Chinese shares up solidly and US shares rising slightly on the back of good earnings results, particularly for tech stocks, but Eurozone, Japanese and Australian shares fell on uncertainty regarding the economic outlook. Australian shares were dragged

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AMP provides update on 1H 20 results

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AMP Limited has provided an update on its 2020 interim operating earnings, including the impact from market volatility and economic disruption due to COVID-19. Whilst the 1H 20 results are still being finalised and subject to audit review, AMP expects to report underlying profit for retained businesses (Australian wealth management, AMP Bank, AMP Capital and

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