The Australian sharemarket followed global stocks higher but the Australian dollar fell after consumer inflation came in well below forecasts. Wall Street stocks rose 0.3 per cent, but the S&P/ASX 200 index climbed 50 points, or 0.87 per cent, to 5776.6 as rebounding commodity prices and the neutral interest rate outlook boosted sentiment.
Consumer price inflation slowed to 0.2 per cent over the June-quarter, half expectations, and at 1.9 per cent on an annual basis, CPI was below the bottom of the Reserve Bank's target range of between 2 per cent and 3 per cent. The dollar fell US0.6¢ to US78.90¢, having hit a high of US79.70¢ last night as rate rise risks abated.
And the winners are ...
Last week, we asked our clients to nominate their favourite local charities to receive $1,000 towards their charitable work. There were many incredible nominations, but he had to narrow it down to the following two organisations. These organisations work tirelessly to improve the lives of the people they work with.
The farm is owned and operated by Ms. Kylie Read and Ms. Ruth Polley and is run totally on donations and with the help of a large team of volunteers. This group works with mainly rescued and abused horses, and with children and adults who are having difficulties with life. Their motto is "Healing Horses Helping Hurting Humans". The program usually runs for two hours once a week for eight weeks. The farm also runs Corporate days, where staff can experience the program and be challenged to do the trust ride.
(*Image courtesy of The Gympie Times)
Angel Gowns Australia Inc. is an Australian organisation. The volunteers at Angel Gowns Australia deconstruct donated wedding gowns and turn them into numerous 'Angel Gowns' for stillborn babies. Sadly, the demand for these gowns is enormous. Grieving families are given a beautiful gown, made with love, to dress their baby in. It is wrapped in a beautiful white box along with an Angel pin and poem card as a keepsake. There is no cost to the grieving family for this service, it is a cost to the organisation.
We have been humbled to see the work done with such dedication by these tireless volunteers, and the comfort and support it brings to recipients. Congratulations to both of these organisations, and thank you for everything you do in our community.