2/26/2023 0 Comments Amp coin live![]() "It is more of a short-term, knee-jerk reaction," he said. Portfolio manager at Kingsview Investment Management in Chicago Paul Nolte said when investors hear about plans to hike taxes they often rush to sell-off shares and ask questions later. ![]() Some analysts believe the tax hikes would be difficult to get through US Congress. The losses came after reports US president Joe Biden planned to raise the marginal tax rate to 39.6 per cent from 37 per cent and nearly double the capital gains taxes to 39.6 per cent for people earning more than $US1 million. Tech companies Microsoft (-1.3pc), Apple (-1.1pc), Amazon (-1.5pc) and Tesla (-3.2pc) also dragged the index down. In New York, the Dow Jones index dropped more than 300 points, or 1 per cent, to 33,815, the benchmark S&P 500 slid 0.9 per cent to close at 4,134, while the Nasdaq also fell by 0.9 per cent to 13,818.Īll sectors in the top 500 finished lower and the biggest losers were Huntington Bancshares (-6.7pc), Dow Inc (-6pc) and LyondellBasell Industries NV (-5.6pc). On Thursday, AMP's wealth management division reported $1.5 billion in net cash outflows, while the AMP Capital division saw a $2.9 billion funds outflow.ĪMP's share price closed 0.9 per cent higher at $1.135, having jumped as high as $1.21 earlier in the session on the announcement. Mr Pahari's departure is the latest in a series of senior staff leaving the troubled company, with AMP's chief executive Francesco De Ferrari the next in line to depart. Michael Sammells, who is currently the non-executive director of AMP Limited and current chairman of AMP Capital, will be the interim chairman of the offshoot. Mr Pahari's was originally promoted to head AMP Capital, but was demoted following the publication of sexual harassment revelations by the AFR last year. In a statement, AMP chairwoman Debra Hazelton said the demerger would create two more focused businesses, AMP Limited and Private Markets. AMP demergerĪMP has abandoned takeover talks with Ares Management, opting instead to split off AMP Capital's private markets investment management business. On oil markets, Brent crude was up half a per cent and worth $US65.75 per barrel. ![]() Spot gold was was flat after falling half a per cent earlier and was selling for $US1,784.56. Investors also were not impressed by JB Hi-Fi's (-4.4pc) deal with Zip Co, after an announcement the buy-now-pay-later company will provide a payments system for the music retailer and home appliances chain Good Guys. Vitamin and wellbeing company Blackmores was the second worst performing stock, down 6 per cent after its boss raised concerns about slower earnings growth due to Australia's closed borders and tensions with China. ![]() Meanwhile, online retailer Kogan's shares fell 13.8 per cent after the company announced slower than expected sales as customer demand falls. Leading the gains were tech company Nuix, which was up 7.4 per cent after its share price nosedived on Wednesday, network operator Megaport (+5.1pc) and Nufarm (+4.6pc). The Australian dollar was up 0.3 per cent 77.28 US cents at 4:20pm AEST, after falling 0.6 per cent overnight to a low of 76.91 US cents.Īmong the top 200 companies, technology, financials, miners, real estate and healthcare boosted the index. The benchmark ASX 200 closed up just 5 points to 7,061, while the broader All Ordinaries gained only 0.1 per cent to 7,321 at the close of trading.
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