January 2024

The Australian sharemarket experienced a decline on Wednesday, mainly due to disappointing economic data from China and revised expectations regarding US interest rates. The S&P/ASX 200 index dropped by 0.3%, or 21.7 points, closing at 7393.1. This decline was influenced by losses in five out of the 11 industry sectors and followed a sell-off in […]

Australian shares started the trading day on a decline, influenced by the negative trend in Wall Street due to comments from US Federal Reserve policymaker Christopher Waller opposing expectations of an imminent interest rate cut. The the S&P/ASX 200 is 0.01 per cent lower at 7,413.80. This decline was primarily driven by losses in interest

Intra Energy Corporation (ASX:IEC) announced that pegmatite rock samples collected and assayed during the due diligence process at the Lake Johnston Lithium project contain highly anomalous levels of key lithium pathfinder minerals tantalum and niobium. The sampling covers a 2-kilometre trend of pegmatite outcrops with a further 5 kilometres of the trend yet to be

In 2024, the market hasn’t opened as enthusiastically as it finished 2023. Initially bullish and eager for the Federal Reserve’s pivot towards potential interest rate cuts, the outlook has since become more restrained due to mixed data and pushback from Fed members. Despite the caution, optimism about lower interest rates is at its highest in

BYD’s export expansion continues, with the company revealing that its first potentially fleet of car carriers started its maiden voyage on Monday from Yantai Port in Shandong and Xiaomo Port in Shenzhen. The carrier, the largest one built so far, is headed for Europe with an estimated 5,000 vehicles on board, making its way to

Goldman Sachs has reported its lowest annual profits in four years, as losses caused by its pullback from retail banking compounded a slowdown in its core business. Despite the U.S. business media’s concentration on the 4th quarter figures, the 2023 data shows Goldman was the weakest of the big six banks, outside of Citi, which

The 6th US major to report, Morgan Stanley, produced its figures on Tuesday as well. For the quarter ended December 31, 2023, it reported revenue of $US12.9 billion, above Wall Street estimates of $US12.7 billion. Revenue from investment banking edged up to $US4.8 billion in the year-ago quarter to $4.9 billion. However, earnings fell thanks

The Dow Jones Industrial Average fell on Tuesday as rates ticked higher and Wall Street pored through the latest batch of fourth quarter earnings. Investors also awaited more data that can give better glimpse into the state of the American consumer. Several major banks released their quarterly earnings Tuesday morning. Goldman Sachs reported better-than-expected profit

Canada’s First Quantum Minerals has announced significant cuts in its operations and spending as it grapples with the aftermath of losing its $US10 billion Cobre Panama copper mine due to a combination of government and court decisions. Only hours after suspending operations and laying off more than 100 workers at its Ravensthorpe nickel mine in

On Tuesday, the Australian sharemarket experienced a significant decline, reaching a four-week low, as risk-off sentiment swept across all sectors, resulting in the S&P/ASX 200 dropping 1.1% to 7414.8 points, its lowest level since mid-December, mirroring the decline in the All Ordinaries index. This decline was influenced by a preceding weakness in European markets due