April 23, 2023

Stocks dropped Thursday as Wall Street reacted to a mixed bag of corporate earnings, including disappointing results from Tesla. Investors also assessed fresh data that signalled a contracting economy. So far this earnings season, about 16 per cent of companies in the S&P 500 have reported results, with about 76 per cent beating EPS expectations,

Rio Tinto (ASX:RIO) has made a very strong start to its 2023 financial year with a stellar performance in its most important business – the WA iron ore operations – where it reported a 16% lift in exports in the three months to March. It was the strongest ever quarterly performance by the company’s iron

Tesla price cut itself into a slide in earnings in the first three months of 2023 as the electric vehicle giant tried to fight off rising challenges from Chinese, European and fellow American EV makers. And the succession of price cuts (at least three in the quarter) have continued into April with two in a

Global logistics business Brambles (ASX:BXB) has issued another upgrade to its 2022-23 guidance, despite weak economic data from a number of major economies and a downgrade in global growth forecasts from the IMF and World Bank. The company told the ASX in Thursday’s update the improvement in revenues for the months to March came as

Updates Thursday from energy major Santos (ASX:STO), whose revenue is headed the wrong way, and Bank of Queensland (ASX:BOQ), who confirmed they are in the regulator’s sights. ………… The Russian boost to global oil and gas prices vanished for Santos (ASX:STO) in the three months to March with the country’s second-ranked energy giant revealing a

At the closing bell, the S&P/ASX 200 was 0.04 per cent lower at 7,362.20, as the materials sector suffered a decline of over 2 per cent. Despite reporting record iron ore production, Rio Tinto (ASX:RIO) shares fell 2.3 per cent, and BHP (ASX:BHP) shares dropped 2.6 per cent. However, the Financials sector rose 1.3 per

Stocks are fairly flat following overnight’s performance. Eight out of eleven sectors are in the green so far, as the S&P/ASX 200 is 0.02 per cent higher at 7,367 at noon. Santos (ASX:STO) is facing challenges with its $5.8 billion Barossa gas project in the Timor Sea, after an unexpected court ruling overturned its environmental

The Australian sharemarket ended the week down 0.4 per cent after falling by 0.26 per cent at 7,342.90. This was led by losses in miners and banks. The fall was attributed to a build-up in port inventories, causing investor sentiment for iron ore to drop and resulting in a third straight day of plunging Chinese

Seven out of eleven sectors are trading higher today, however, losses from Materials, including a 1.96 per cent fall from BHP (ASX:BHP), a 1.16 per cent fall from Fortescue Metals Group (ASX:FMG) and a 2.58 per cent drop from Rio Tinto (ASX:RIO) has been the main driver in today’s current losses. Flash PMI data for