November 27, 2023

The Dow Jones Industrial Average fell on Monday, as traders took a breather after the major averages posted a four-week winning streak. The Dow Jones Industrial Average lost 56.68 points, or 0.16 per cent, to 35,333.47. The S&P 500 shed 0.20 per cent to 4,550.43. The Nasdaq Composite edged lower 0.07 per cent to 14,241.02. […]

The price of gold surged to a six-month high on Monday, driven by growing investor confidence that the US Federal Reserve has concluded its series of interest rate hikes and a weakening US dollar. Spot gold prices rose by 0.6 percent, reaching $2,014.55 per troy ounce, marking the highest level since mid-May. This surge contributed

Perseus Mining (ASX:PRU) has utilised a portion of its US$600 million (over A$900 million) cash reserve to acquire a significant stake in OreCorp, a competing African mining company. In this move, Perseus CEO Jeff Quartermaine underscored the company’s eagerness to use its cash reserve for expansion, stating, “Perseus continues to assess and, where deemed commercially

The Australian sharemarket experienced a decline on Monday due to a sell-off in commodity stocks, primarily driven by a drop in the value of iron ore. This decline was prompted by concerns that Beijing might intervene to control rising prices, causing the materials sector to underperform. Notable companies such as BHP, Fortescue Metals, and Rio

Perth-based IGO (ASX:IGO) has cleared incoming CEO Ivan Vella after he was summarily fired by his former employer, Rio Tinto, over a confidentiality breach. In a statement early Monday, IGO said its board continues to have confidence in incoming Chief Executive Ivan Vella despite the policy breach during his handover at Rio. IGO said Vella,

QBE (ASX:QBE) looks set to meet or exceed its 2022 net profit, thanks to a remarkable turnaround in investment returns during the year ending in December. QBE disclosed a 2022 statutory profit of $US770 million. Its 2023 interim result of $US400 million indicates it is on track to at least match that figure. However, a

The S&P/ASX 200 is trading 0.44 per cent lower at 7,009.50. Futures The SPI futures are down 34 points. Best and worst performers The best-performing sector is Information Technology, up 1 per cent. The worst-performing sector is Consumer Discretionary, down 1.17 per cent. The best-performing large cap is WiseTech Global (ASX:WTC), trading 1.81 per cent

By next Sunday, it will be clear whether Canada’s Brookfield and EIG of the US have a chance of gaining approval at Origin Energy’s adjourned shareholders’ meeting on Monday, December 4. Origin’s board still opposes a third takeover proposal from the two bidders, which emerged after last Thursday’s aborted meeting to vote on the scheme