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ASX up, miners boost the market

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Australian shares are trading higher as mining stocks boost the market. Meanwhile, Telstra takes over a South Pacific telco and Origin Energy cops a $5 million fine.

The Australian share market opened higher on MondayIron ore up $US2.85 or 2.4 per cent to $US120.35 a tonne

Kogan was down 4.2 per cent, Aurizon lost 2.4 per cent, Appen fell 2.7 per cent, St Barbara lost 2.2 per cent and Afterpay was down 2.1 per cent.Telstra deal mostly funded by the federal government Origin Energy has been fined $5 million for charging exit fees to more than 20,000 gas and electricity small business customers.

The regulator said Origin was aware that exit fees had been banned in Victoria but continued to charge customers.

 

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Personal debts at at 20 year low.They either put in ASX or properties ,with the latter at all time high beyond average Aussie reach. Inflation? Aus Banks are flushed with loan repayment excess cash, what credit squeeze? Maybe mid 2023 perhaps

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