March 4, 2024

US stocks retreated Monday despite a rallying group of technology stocks tied to the artificial intelligence boom. The S&P 500 shed 0.12% to 5,130.95, while the Nasdaq Composite slipped 0.41% to 16,207.51. The Dow Jones Industrial Average lost 97.55 points, or 0.25%, to finish at 38,989.83. Losses were mitigated by gains of more than 3% […]

Albemarle is looking to raise more than $US2.1 billion (over $A3.2 billion) in a share issue to investors as it seeks to maintain high levels of liquidity to ride out the current downturn in demand for lithium and the concurrent price slide. The US-based company said some of the money will be spent on processing

World gold prices surged strongly on Monday, leaping back over $2,100 an ounce on Comex in New York. Silver prices also rose sharply as analysts struggled to pinpoint a driving factor for the strong gains. Some attributed the sudden rise to technical support, while others believed it was fueled by a belief that US rates

The ASX declined in its first session of the week, with the S&P/ASX 200 closing 0.1% lower amid concerns over upcoming GDP figures, particularly after a larger-than-expected decline in inventories, while real estate stocks rose 1.3% and gold stocks rallied on increased gold prices. Additionally, corporate news included Downer EDI’s defence against a shareholder class

Foreign bids for Australian companies continue to surge, with significant offers on the table. Saint-Gobain has bid $4.3 billion for CSR, while Japan’s Renesas proposes $9.1 billion for Altium. Additionally, there’s a $US1.6 billion Indonesian-Australian offer for Illawarra Coal. Among these bids, Electric Power Development (J-Power), one of Japan’s largest energy utilities, has put forth

Home building has begun 2024 weakly. According to January approvals figures from the ABS released on Monday, they dropped to their lowest monthly level in 11 years. The total number of dwellings approved fell by 1.0% in January (seasonally adjusted) to 12,850 after a 10.1% drop in December. January’s total was the lowest since January

Business inventories wield considerable influence over GDP growth, often introducing unpredictability into economic forecasts. While an increase in inventories typically signals positive economic expansion, excessive rises may indicate underlying issues, particularly within retail and household consumption sectors. However, in economies such as Australia’s, the volatility of inventory fluctuations extends beyond the retail sphere, prominently influenced

Chariot Corporation (ASX:CC9) has significantly increased the footprint of its Black Mountain project through the acquisition of 218 contiguous claims, representing a 206% increase in project tenure area. This expansion, totaling 2,686 hectares, was achieved through staking and filing with the Bureau of Land Management (BLM). The newly acquired claims, known as BMX Claims, serve

Lake Resources N.L. (ASX:LKE; OTC:LLKKF) announces that it is reducing its employee base and administrative expenses after completing the Kachi Phase One Definitive Feasibility Study, aiming to extend its financial runway and enhance its strategic partner selection process. This involves cutting approximately 50% of its global headcount and streamlining other expenditures, expecting a further 30%

At 11:30am, the S&P/ASX 200 is 0.28 per cent higher at 7,767.50. Australian real estate and tech stocks are the best performing after the tech-heavy Nasdaq Composite and S&P 500 closed at record highs on Friday 16,274.94 and 5137.08, respectively. Fresh US manufacturing data on Friday added to hopes the Federal Reserve will begin cutting