March 2024

Monday marked a significant reversal for major banks following Friday’s surge, but the real concern for the local market emerged with a nearly 7% plummet in iron ore prices across Asia. This downturn triggered further declines in the shares of industry giants BHP, Rio Tinto, and Fortescue, compounding their losses from the previous week. Investor […]

The Australian sharemarket experienced its most significant sell-off in over a year, with the S&P/ASX 200 Index tumbling 1.8% from a record high, led by declines in the materials and energy sectors alongside profit-taking in banks. Weakness in iron ore prices contributed to losses in material stocks like BHP, Fortescue Metals, and Rio Tinto, while

China may have boosted iron ore imports to over 209 million tonnes for the first two months of this year. However, recent data confirms that weak demand from steel mills has led to a buildup of ore shipments at the country’s 45 ports. Alongside the 100 million tonnes imported in December, total imports reached nearly

The prospects for Panoramic Resources (ASX:PAN) and its beleaguered Savannah nickel, copper, gold mine have taken a significant hit with the recent appointment of receivers, adding to the company’s existing challenges following the earlier appointment of administrators. Receiver managers were appointed late last week, exacerbating the already precarious situation. Typically, the appointment of receiver managers

TASK Group Holdings (ASX:TSK) and PAR Technology Corporation (NYSE:PAR) have entered into a Scheme Implementation Agreement under which it is proposed that PAR will acquire 100% of TASK by way of a Scheme of Arrangement. TASK shareholders will have the ability to receive the Scheme consideration in cash or scrip by way of a mix

The Australian sharemarket experienced a decline at the opening, influenced by a pause in the bull market on Wall Street the previous Friday. Particularly, the materials, healthcare and energy sectors performed poorly, each dropping over 1%. BHP, a major index constituent, experienced a percentage loss. CSL, a blood plasma collector, also saw a decline of

Stocks retreated on Friday, closing out a turbulent week as Nvidia’s incredible run took a breather. The S&P 500 lost 0.65 per cent to 5,123.69, while the Nasdaq Composite slipped 1.16 per cent to 16,085.11. Both swung into negative territory after rising to new all-time highs earlier in the session. The Dow Jones Industrial Average

This week, the focus of US markets shifts back to inflation, with investors anticipating potential rate cuts sooner rather than later. Last week, Wall Street saw a temporary halt as Federal Reserve Chair Jay Powell hinted at the possibility of rate cuts in the coming months. Powell’s remarks, while not confirming any specific actions, underscored

Oil prices stalled last week despite a weaker US dollar, lower bond rates, and bullish chatter about rising demand. The fall over the week came as Saudi Arabia extended its production quota, as did Russia and other members of OPEC. The Saudis also raised their official selling prices to Asian customers, which raised eyebrows. China

Well, I guess it pays to have a bit of perspective in markets at times when the momentum is all go, go, go and record-breaky. After what was a ‘goldilocks’ US jobs report for February — some good, some bad — US stocks retreated on Friday, closing out a volatile five sessions with the worst