January 28, 2024

Retail giant Woolworths is anticipating a statutory loss for the six months ending December. The supermarket group informed the ASX on Monday of impairments totaling nearly $A1.7 billion in its New Zealand supermarkets business and the accounting treatment for its remaining 9.1% stake in the Endeavour booze and hotels spin-off. Simultaneously, Australia’s largest supermarket chain […]

China’s securities regulator announces a complete suspension of restricted shares lending effective today (Monday), in response to the recent sharp decline in Chinese shares, particularly last Monday. The ban aims to stabilize the country’s stock markets following the recent market downturn, prompting various government actions such as administrative changes, easing lending to property companies, relaxing

The S&P 500 closed slightly lower Friday, but clinched weekly gains as the latest economic data added to a positive picture of the economy. The broad market index inched down by 0.07 per cent to 4,890.97. The Nasdaq Composite slipped 0.36 per cent to 15,455.36, hurt by a post-earnings slide in Intel. The Dow Jones

De Grey Mining (ASX:DEG) announced it had more than $340 million in cash on hand, positioning it strongly to advance its Tier 1 Hemi gold project in WA’s Pilbara, the cornerstone of its growth strategy. This revelation, along with ambitions to refine the development of the vast Hemi prospect with its 12.7 million ounces of

Netflix stunned; Tesla shocked. Now it’s Alphabet, Amazon, Apple, Meta, and Microsoft’s turn to perform for investors as the US earnings season reaches its climax in the next five days. Apple, Meta, and Amazon are set to report on February 1, while Microsoft is scheduled for January 30, along with Alphabet. These mega-caps have the

Will the Fed and five major quarterly results this week ruin the market tea party in the wake of yet another week of records on Wall Street, in Europe, and Japan? And will the underperforming Australia join the party after this week’s data drop here? Australian inflation, US Fed decision, and then the jobs data

A year ago, expectations for the performance of the US economy in 2023 were uniformly negative: a slowdown or recession, a surge in jobless numbers, weak earnings, and worse were predicted. Twelve months on, who would have thought the economy would end with a wet sail behind it? The US economy ended 2023 growing strongly,

Oil had a better week, iron ore bounced, copper rose, and coal eased as commodities steadied on hopes that China’s attempts to stop the economic rot would work. Oil’s gains, however, came from the continuing tensions in the Middle East, especially the Red Sea. Singapore iron ore futures saw a solid rise in the price

Wall Street capped off a successful week on Friday, marking its 12th winning week out of the last 13, as investors eagerly anticipated the Federal Reserve’s upcoming decision and Chair Jay Powell’s remarks. While the market closely watched the central bank, it was the quarterly reports from tech giants Apple, Microsoft, Amazon, Meta, and Alphabet