LA Private

February 2024

ASX closes 0.12% higher: Consumer Discretionary outperforms

On Monday, the Australian sharemarket experienced a slight increase, with the S&P/ASX 200 rising by 0.12% to reach 7,652.80 at the close of trading. This uptick was primarily driven by gains in Consumer Discretionary stocks, which surged by 1.1%, led by notable increases in Wesfarmers, Lovisa, and Tabcorp. Despite losses in the energy sector, the […]

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Stocks of the Hour: Tamboran Resources, Oar Resources, Enova Mining

Tamboran Resources (ASX:TBN) has announced that Shenandoah South 1H delivers IP30 flow rates of 6.4 MMcf/d (1,000 metres normalised). The results represent the highest normalised rates achieved in the Beetaloo Basin to date. Shares are trading 2.22 per cent lower at 22 cents. Oar Resources (ASX:OAR) has announced that preliminary test work using bespoke commercialised

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Walmart outpaces Amazon in record-breaking year

For another year, Walmart, the world’s biggest bricks-and-mortar retailer (though with growing online operations), has again bested Amazon in the vital US retailing sector. Walmart not only revealed record revenue, earnings, and online sales (over US$100 billion globally in 2023), which justified its decision to split its shares into three from next week (Monday, February

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Mining giants’ massive write-downs reflect global market challenges

So far this reporting season, major miners have revealed more than $US13 billion (nearly $A20 billion) in write-downs and impairments as global markets across 2023, and weak demand send prices and profits lower and upset projections for the rest of this year and 2025. It’s no secret that nickel is the most troubled business, iron

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Vale’s 4th quarter profit falls short of expectations, but there’s a reason

Brazilian miner Vale surprised investors with a fourth-quarter profit much weaker than expected, reporting a $US2.42 billion net profit, down from the $US3.72 billion reported in the final quarter of 2022—the second-biggest iron ore exporter globally after Rio Tinto. Analysts had anticipated $US4.15 billion, making the report a bit of a shock. However, the reason

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