October 9, 2023

Of course, OPEC would be bullish on the outlook for oil (and, to a lesser extent, gas) – they have no other way of surviving. If they weren’t bullish about future demand, that would be big news. Why this observation? Because OPEC has once again utilised one of its annual global outlook documents to bolster […]

The Bank of England appears to have successfully averted a potential mini banking crisis by arranging a bailout for Metro Bank in Britain. Unfortunately, the proposed deal with the bank’s largest shareholder, Colombian billionaire Jaime Gilinski Bacal, will result in the complete loss of value for existing shareholders. As of Friday, the bank was valued

Fortescue Metals (ASX:FMG) and Sydney-based renewable energy supplier Genex have entered into a 25-year solar power purchase agreement (PPA). The PPA is for the Bulli Creek solar and battery project (BCP) in Queensland, offering an offtake for up to 337.5 megawatts of solar energy. The announcements on Monday from both companies didn’t include any price

A statement to the ASX on Monday revealed major changes to the board, including a new chairperson and two board nominees for the annual general meeting (AGM) on November 9. All of this appears to be endorsed by the top shareholder, Solomon Lew, and his Premier Investments group. Myer (ASX:MYR) announced that after seven years,

Newmont’s $A29 billion all-paper takeover of Newcrest (ASX:NCM) has proven to be a far more significant deal than initially anticipated. This acquisition not only adds over 2 million ounces of gold output annually and more than 140,000 tonnes of copper, along with silver and molybdenum, to Newmont’s already leading global position but also strengthens its

Stocks staged a comeback Monday as investors shook off pressures driven by the deadly Israel-Hamas conflict. The Dow Jones Industrial Average was higher by 0.6 per cent, or 185 points. The S&P 500 was also higher by 0.6 per cent, meanwhile, and the tech-heavy Nasdaq Composite added 0.4 per cent. The major indexes were down

On Monday, the ASX experienced gains, primarily driven by a significant increase in energy and gold stocks. This surge was a result of a sharp rise in oil prices in Asia, triggered by recent violent incidents involving Hamas in Israel. The benchmark S&P/ASX 200 index increased by 0.2 percent, adding 16 points to reach 6970.2

The S&P/ASX 200 is trading 0.51 per cent higher at 6,989.40. Futures The SPI futures are up 39 points. Best and worst performers The best-performing sector is Energy, up 3.23 per cent. The worst-performing sector is Consumer Staples, down 0.63 per cent. The best-performing large cap is Evolution Mining (ASX:EVN), trading 7.34 per cent higher