July 3, 2023

Stocks rose slightly Monday in a shortened session that kicked off the second half of what’s already been a stellar year on Wall Street. The Dow Jones Industrial Average added 10.87 points, or 0.03 per cent, to finish at 34,418.47. The S&P 500 climbed 0.12 per cent to end at 4,455.59, while the Nasdaq Composite

Supported by positive sentiment from Wall Street, the S&P/ASX 200 closed 0.59 per cent higher at 7,246.10, with the benchmark index gaining 0.3% and nine out of 11 sectors experiencing gains. Additionally, trading was influenced by a seasonal trade strategy where investors sell winners from the previous year and purchase last year’s losers on the

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses home prices. Key points:The Australian home price rebound continued in June with CoreLogic data showing national average home prices up 1.1%, their fourth rise in a row. They are now up 3.4% from their February low.Sydney continues to lead the charge with

Pilbara Minerals  (ASX:PLS), an Australian lithium producer, and Calix (ASX:CXL), an Australian environmental technology company, have released an update on the development of their joint venture mid-stream demonstration plant. The plant, aimed at showcasing the calcination technology for spodumene processing, has made significant progress in the detailed front-end engineering and design (FEED) phase. The final

Eagers Automotive (ASX:APE) has announced an increase in its ownership interest in the retail joint venture with electric vehicle manufacturer BYD. The company has acquired an additional 31% ownership interest in EV Dealer Group Pty Ltd, the exclusive national retail joint venture for BYD in Australia. The acquisition was completed recently, solidifying Eagers Automotive’s position

United Malt Group Limited (ASX:UMG) has entered into a scheme implementation deed (SID) with Malteries Soufflet SAS, whereby Malteries Soufflet will acquire 100% of the shares in United Malt by way of a scheme of arrangement. Under the scheme, United Malt shareholders will receive $5.00 per share in cash, representing a 45.3% premium to United

Base metals play Aurora Metals has recently collapsed into administration, once again thrusting the north Queensland mines under uncertainty and closure for the fifth time in just over a decade. The company’s copper and zinc projects were put on care and maintenance in May following a significant drop in zinc prices over the past six

Centuria Office REIT (ASX:COF), Australia’s largest ASX-listed pure play office REIT, has completed external valuations on a significant portion of its portfolio, representing approximately 70% of the portfolio by value. The remaining valuations will be conducted as Director’s valuations in line with Centuria’s valuation policy. The completed valuations reflect a decline of approximately $102 million

The renewables boom marches onwards and will really come into its own over the next couple of years. By 2025, the export earnings from key battery and renewable commodities are expected to surpass those from thermal coal, according to the Department of Industry, the federal government’s key forecaster. Minerals such as lithium and copper are