July 17, 2023

Stocks were higher Monday as Wall Street braced for quarterly reports from some of the biggest companies in the world. This includes reports financial institutions, such as Bank of America, Morgan Stanley and Goldman Sachs. Results are also due from United Airlines, Las Vegas Sands and technology giants Tesla and Netflix. Overall, the Dow Jones

At the closing bell, the S&P/ASX 200 was 0.06 per cent lower at 7,298.50. Among the 11 industry groups, four of them recorded declines. Endeavour Group (ASX:EDV), a company heavily reliant on the Victorian poker machine market, saw its shares plummet by 9.9% due to concerns over new poker machine reforms in Victoria. This decline

IGO Limited (ASX:IGO) has provided an update regarding the impairment of assets acquired from Western Areas (WSA) in June 2022. The company has finalised the purchase price allocation process and the life of mine budgets for the Forrestania and Cosmos assets. As a result, IGO expects to record a non-cash, pre-tax impairment expense of between

MMA Offshore (ASX:MRM), a global provider of high-spec vessels and marine services to the offshore energy sector and maritime industries, has announced that it expects its EBITDA for the full year ending on 30 June 2023 to range between $66 million and $68 million. This represents a significant increase of over 100% compared to the previous

Whitehaven Coal (ASX:WHC) has announced robust financial results for the fiscal year 2023, overcoming operational challenges.  During FY23, Whitehaven Coal encountered difficulties such as flooding, weather delays, labor shortages, and operational constraints at Maules Creek. Despite these obstacles, the company successfully met its production and sales targets. Whitehaven Coal achieved an average coal price of

Vulcan (ASX:VSL, NZX:VSL), a leading industrial product distributor and value-added processor operating across Australasia, has announced an update for its financial year ended 30 June 2023. Following the completion of the fourth quarter of FY23, Vulcan is revising its earnings expectations for the fiscal year as outlined below. Vulcan now anticipates that integration costs for

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australia economic events. Investment markets and key developments over the past week Global share markets rebounded strongly over the last week as US inflation fell sharply

Investors in the Australian equity market are gearing up for the upcoming August-23 reporting season, focusing on four key questions that will shape their investment decisions. Amid concerns about a decelerating economy, a strained consumer, and the lagged effects of the Reserve Bank’s hiking cycle, market attention will primarily revolve around gauging the extent of