August 21, 2023

The Nasdaq Composite snapped a four-day losing streak on Monday, even as Treasury yields reached levels not seen in over a decade. The tech-heavy index gained 1.6 per cent to close at 13,497.59, its biggest one-day advance since July 28, when it rallied 1.9 per cent. The S&P 500 gained 0.69 per cent to close […]

Elders’ (ASX:ELD) shares experienced a decline on Monday following an unexpected earnings downgrade for the 2022-23 financial year. The company’s announcement caught investors off guard. The company attributed the earnings reduction, amounting to $15 million for the year ending on September 30, to weak cattle and sheep prices, along with general costs in the rural

Global plumbing supplies group Reliance Worldwide (ASX:RWC) witnessed a decline of over 8% in its shares yesterday as its results for the 2022-23 period fell short of expectations. The company experienced a 4% decrease in underlying net profit and presented a lackluster forecast for the upcoming year. The multinational company, headquartered in Brisbane, reported a

Shares of homewares retailer Adairs (ASX:ADH) experienced a substantial decline of more than 15% during Monday trading. This drop was triggered by the company’s decision to withhold its final dividend due to lackluster earnings for the year ending June 30. Additionally, an unfavorable trading update for the new financial year and a projection of increased

Cauldron Energy Limited (ASX:CSU) CEO Jonathan Fisher discusses the company’s progress with its portfolio of assets, including the Melrose nickel-copper project in WA. Paul Sanger: We’re talking today with Cauldron Energy (ASX:CXU). CXU has a market cap of around $7m. Cauldron Energy is a mineral exploration and resource development company focused on minerals supporting the

The consumer staples and information technology sectors faced notable declines due to disappointing earnings reports. Dairy producer A2 Milk’s shares (ASX:A2M) plummeted 13.6% after warning of a challenging year in its vital Chinese market with an expected double-digit value decline. Similarly, Elders’ shares (ASX:ELD) dropped 10.8% following a profit forecast downgrade linked to weaker-than-expected sales.

The S&P/ASX 200 index is currently trading 0.11 per cent lower at a value of 7,140.20. The SPI futures are down by 14 points. When turning to sectors, the Consumer Discretionary sector is the best-performing, up by 1.24 per cent, while the Consumer Staples sector is the worst-performing, down by 1.33 per cent. Among large-cap

Strong indications emerged on Monday that Solomon Lew might consider dismantling his vast $3.5 billion fashion retail conglomerate, Premier Investments (ASX:PMV), following the unexpected resignation of CEO Richard Murray. In a disclosure to the ASX on Monday, Premier Investments announced its intention to conduct a structural review. The decision stems from the recognition of the

Reuters reported early on Monday that Asian investors were holding their breath, waiting to see how committed Beijing was to policy easing through anticipated rate cuts. Their fears were met with only a slight 0.10% reduction in the Loan Prime Rate (LPR), from 3.55% to 3.45%. This cut was smaller than last week’s 15-point decrease

Red Metal (ASX:RDM) has announced that their new assay results have confirmed rare earth oxide at the Sybella project in Northwest Queensland. Red Metal believes the REO mineralisation should be recoverable by the application of a weak acid solution. Shares are trading 9.33 per cent higher at 8.2 cents. Gladiator Resources (ASX:GLA) announced that it