Bapcor (ASX:BAP), the auto parts retailer and wholesaler, is grappling with a challenging beginning to the 2023-24 fiscal year due to a slowdown in consumer demand, impacting its trading performance. It appears that even car enthusiasts are refraining from splurging on vehicle parts and accessories, as indicated during the annual meeting held on Tuesday. Factors […]
Bapcor faces tough start Read More »
Australian shares initially rose in the morning but later retraced some of those gains due to hawkish comments in the Reserve Bank of Australia’s latest monetary policy minutes, which dampened market optimism. The central bank members discussed the possibility of increasing interest rates by 25 basis points but eventually chose to keep the rate unchanged
Afternoon update: ASX currently 0.58% higher as investors digest RBA comments Read More »
17 Oct 2023 – A snapshot of the stocks on the move, featuring Rincon Resources (ASX:RCR), Battery Minerals (ASX:BAT) and St George Mining (ASX:SGQ).
Stocks of the Hour: Rincon Resources, Battery Minerals, St George Mining Read More »
Rincon Resources (ASX:RCR) announced that their exploration activities intersects a wide zone of quartz-sulphide mineralisation at their South Telfer Project, Paterson Range. A total of 3 holes have been completed so far, with a further 12 holes remaining. Shares are trading 5.56 per cent higher at 3.8 cents. Battery Minerals (ASX:BAT) has entered into a
Stocks of the Hour: Rincon Resources, Battery Minerals, St George Mining Read More »
The Reserve Bank of Australia recently released its latest minutes regarding the cash rate decision. During the meeting, members contemplated increasing the cash rate target by 25 basis points but ultimately chose to keep rates unchanged for the fourth consecutive time. They noted that the labor market had undergone a significant change and that economic
ASX up 1.05% as RBA releases its latest minutes Read More »
In its first estimate for 2024, Rio Tinto (ASX:RIO) has surprised by forecasting only a marginal rise, at best, in iron ore shipments over 2023. However, Rio also said that its shipments will only be maintained at this very high level by availability and shipments of its lower-grade ores (called SP10). The world’s biggest iron
Rio Tinto’s 2024 iron ore shipment forecast and production update Read More »
Despite a surge in petrol prices, New Zealand’s consumer price inflation sharply slowed in the September quarter, effectively dispelling market speculation about the central bank’s need to raise interest rates again. Expectations had suggested that higher fuel costs would drive consumer prices above the 6% annual rate recorded in the June quarter, possibly prompting the
NZ inflation slows despite surging petrol prices Read More »
Magellan Minutes is designed to provide you with concise, relevant and digestible talking points on global markets, in a video that is around 10 minutes. Join Adrian Lu as he provides insights into the developments and opportunities in Artificial Intelligence (AI). The frontrunners in this space and the challenges and future growth of this sector.
From chips to cloud: Advances and opportunities in AI Read More »
In a strategic move that underscores Canada’s commitment to electrifying its automotive landscape, Umicore Rechargeable Battery Materials Canada Inc. has inked a monumental deal with the Governments of Canada and Ontario. The Belgian circular materials technology behemoth is set to establish a cutting-edge manufacturing plant in Loyalist Township, Ontario. This ambitious venture will see the
Umicore’s multibillion-dollar investment in Canada accelerates EV ambitions Read More »
Major Wall Street banks are anticipating a significant decline in the euro, with expectations that it could reach parity with the US dollar. This forecast comes as geopolitical tensions in the Middle East threaten to increase Europe’s imported energy costs, and concerns over higher borrowing costs weigh on the eurozone’s economic prospects. Leading financial institutions,
Wall Street predicts Euro to hit parity with US dollar amid Middle East uncertainty Read More »
