What matters this week
Australian stock market news this week focused on more hyped-up events...
The share price collapse of Murray Goulburn, the listed dairy farming business, which is down 45% the last 30 days, has moved from the boardroom to the streets. See Wry & Dry for deeper comment.
Wesfarmers' (owner of Bunnings, Coles, Kmart, Target and Officeworks) share-price was beaten up as its CEO announced a $1.1 billion write of its investment in Target (a discount department store). Much gnashing of teeth. Is Wesfarmers' dividend under threat? Wesfarmers' share-price down 4% for the week.
Macquarie Bank's share-price leapt over 6% on profit upgrade expectations.
... but there wasn't much else in Australia.
Overseas: Google won a jury verdict that killed Oracle’s claim to a $9 billion slice of the search giant’s Android phone business; US orders for business equipment unexpectedly declined in April for a third straight month, indicating American manufacturers continue to pull back and the G-7 met in Japan.