January 22, 2024

US stocks rose overnight as investors built on the previous session’s historic move to record highs. The Dow Jones Industrial Average climbed 138.01 points, or 0.36 per cent, to finish at 38,001.81. Monday’s gains pushed the blue-chip average to a new record and above the 38,000 level for the first time. The S&P 500 added […]

Cashed-up African gold miner, Perseus (ASX:PRU), has disrupted the already tumultuous takeover bid for OreCorp by Canada’s Silvercorp Metals with a full cash offer of 55 cents per share. While it represents just a 4% premium to Silvercorp’s cash and share bid, Perseus’ transaction appears likely to succeed unless the Canadian company can secure sufficient

ABx Group (ASX:ABX) has announced high-grade results emerging from the first drilling campaign at the Wind Break deposit. Located just 15 kilometers northeast of the massive Deep Leads-Rubble Mound rare earths resource, this discovery marks a pivotal moment in ABx’s exploration endeavors, further solidifying their presence in northern Tasmania’s vast exploration target area, spanning over

At the closing bell, the S&P/ASX 200 was 0.75 per cent higher at 7,476.60. The Australian sharemarket saw gains driven by a US rally, with tech and financial stocks leading the way. Buy now, pay later company Zip surged 16.5% after announcing a return to semi-annual profitability. Big banks like ANZ and Commonwealth Bank also

Lynas (ASX:LYC), a rare earths group, saw its shares under pressure on Monday after revealing a 40% year-on-year decline in rare earths production in the December quarter. The miner reported a production of 901 tonnes of neodymium and praseodymium (NdPr), down from 1,508 tonnes in Q2 FY 2023. Total rare earth oxide (REO) production during

By mid-afternoon, the Australian share market rose by 0.6%, influenced by a positive trend in the US stock market. This surge was driven by expectations of lower interest rates for the year. However, warnings from local mining companies regarding falling metal prices, including copper, nickel, and lithium, limited the overall gains. Tech stocks performed well

On Monday, the tech sector witnessed another dramatic downturn, as shares in Appen slumped by 37%, adding to the bloodshed in the market. This time, it was not the lithium and nickel resources sector but the tech sector itself that took a hit. The embattled artificial intelligence (AI) data services company announced a major setback,

The cutbacks in resources continue, especially in Western Australia (WA), with the nickel and lithium sectors bearing the brunt of spending reductions, mine closures, and the suspension of exploration activities. This is due to nickel prices plummeting by 50% in the past year, while lithium prices for spodumene, the hard rock ore for hydroxide, have

American home sales hit a 30-year low, delivering bad news for News Corp (ASX:NWS) and its 61% owned Australian US property listings REA Group (ASX:REA). Together, they control Move, a larger US counterpart to REA, with News owning 80% and REA owning 20%. Both companies are bearing the brunt of this severe downturn, which surpasses

South32 (ASX:S32) announced on Monday that it expects its full-year group output to be 3% lower than previously forecast. The company attributed this decline to production problems, lower-than-expected grades, and plant power outages. However, South32 remains optimistic about an improvement in performance in the ongoing June half-year. The multinational miner reassured the market by stating