Australian shares experienced their most significant single-day drop in over a month on Tuesday, reflecting a change in trader sentiment after a robust November rally. Despite this decline, the benchmark index partially recovered some of its losses following the Reserve Bank of Australia’s decision to maintain interest rates at 4.35 percent, a move anticipated by […]
Kobe auction result Atlas Pearls (ASX:ATP) has sold 130,000 loose pearls for total revenue of $14.81 million in an auction in Kobe, Japan. In response, Atlas Pearls’ CEO Michael Ricci commented: “The sales outcome underlined the continuing strength in the global market for south sea pearls with strong demand for the Company’s offering from both
Stocks of the Hour: Atlas Pearls, Adavale Resources, Horizon Minerals Read More »
The Reserve Bank of Australia (RBA) has announced its decision to keep the cash rate unchanged at 4.35 per cent in its final policy meeting for the year. This move was widely anticipated by the financial market and economists, given the central bank’s recent efforts to address inflation concerns. The RBA had increased interest rates
RBA leaves cash rate at 4.35% Read More »
The forecasts for 2024 have been coming in rapidly, and some predictions about stock markets have turned out to be quite inaccurate, especially regarding key measures like the S&P 500. One forecast that drew attention this week came from Moody’s, which issued a cautionary outlook for the health of the global banking sector in the
Moody’s warns of negative outlook for global banking in 2024 Read More »
Evolution Mining (ASX:EVN) is making a significant move to expand its investment in the New South Wales mining industry. The company has proposed to acquire an 80% stake in the long-established Northparkes copper-gold mine in the state’s central west for over $A700 million. This strategic deal marks Evolution Mining’s second mine in the region, complementing
Evolution Mining expands NSW investments Read More »
Rio Tinto has announced plans to spend over half a billion dollars on exploration and other activities for its upcoming anchor iron ore mine in the Pilbara region, ensuring its significance for decades to come. In a statement released on Tuesday, Rio disclosed its approval for a $US77 million (over $A115 million) pre-feasibility study for
Rio Tinto to invest over half a billion dollars in Pilbara iron ore mine Read More »
Australian shares are declining at midday, with mining and tech stocks leading the downturn, ahead of the Reserve Bank of Australia’s final rate decision for the year. Material sector has been particularly affected, down by 1.8%, with major iron ore companies like BHP, Rio Tinto, and Fortescue experiencing more than a 1% drop, along with
ASX down 0.89% at noon ahead of RBA decision Read More »
Stocks slipped on Monday as investors questioned whether the market was getting ahead of itself following five straight winning weeks. The Dow Jones Industrial Average shed 41.06 points, or 0.11 per cent, to close at 36,204.44. The S&P 500 dropped 0.54 per cent to 4,569.78. The Nasdaq Composite declined 0.84 per cent to 14,185.49 as
Nasdaq sees megacap and AI stocks decline Read More »
Today marks the judgment day for Origin Energy, as trading in the company’s shares is set to resume later on Tuesday. This comes after the well-anticipated defeat of the $20 billion bid for the company by Canada’s Brookfield and the US’s EIF. On Monday afternoon, the company’s shares were trading at $7.86 before trading was
Investors deliver defeat to Origin Energy’s takeover bid Read More »
Gold experienced a downward spiral on Monday, adhering to the age-old adage that what goes up must come down. The precious metal’s prices plummeted from record highs during Monday’s global session in Asia, driven by a stronger dollar and increased US treasury yields as the day progressed. Comex gold for February delivery witnessed a decline
Gold faces investor gravity: What goes up must come down Read More »
