April 8, 2024

Iron ore futures surged unexpectedly in Singapore on Monday, a stark contrast to their decline late last week. The SGX iron ore platform recorded a closing price of $104.10 per tonne for 62% Fe ore, marking a nearly 6% increase in a single day and reaching a two-week high. This rise occurred despite a slight […]

First-quarter earnings season is set to begin in earnest this week, led by banking giants JPMorgan Chase, Wells Fargo (WFC), and Citigroup on Friday. Analysts at US financial data group FactSet are looking for an earnings growth rate of 3.4% for the S&P 500 companies, marking the third-straight quarter that the index has reported earnings

The angle of attack on China’s struggling property developers has shifted significantly. Under President Xi Jinping’s administration, the Chinese government has adopted a radical approach towards their financial health, employing non-Communist party overseen legal mechanisms. Evergrande, the largest developer, faced a winding-up order by a Hong Kong court in late January. Joining the fray, Country

In March, China’s gold buying spree dipped amidst soaring prices, hinting at further decline in April after prices surged to unprecedented levels on Monday. China’s foreign exchange group disclosed a modest addition of 160,000 ounces in March, bringing its total holdings to 72.74 million ounces, marking the 17th consecutive month of gold acquisition. However, the

Markets finished the day essentially flat as investors remain focused on CPI due out later this week. The Dow Jones closed down 0.03 per cent, the S&P 500 ticked down by 0.04 per cent and the Nasdaq just tipped into positive territory to close 0.03 per cent higher at the close. Treasury yields rose as

The Australian sharemarket closed slightly higher on Monday, with the S&P/ASX gaining 0.2 per cent to 7789.1 points, despite a tumultuous session for several ASX 200 members. The increase followed a strong US job report over the weekend, which boosted US sharemarkets but also raised concerns about potential delays in US Federal Reserve interest rate

Beach Energy (ASX:BPT), a prominent player in the oil and gas industry, has been grappling with significant challenges, including cost overruns and delays, at its Waitsia gas project in Western Australia. The company’s recent announcement of sweeping staff cuts has underscored the severity of the situation, raising concerns among investors and stakeholders alike. The decision

In a recent development within the gold sector, Westgold Resources (ASX:WGX) has announced its acquisition of Kinora Resources, merely 11 days after Ramelius Resources (ASX:RMS) abandoned its pursuit of the Canadian-based Australian gold company. Ramelius’ decision to call off the deal was attributed to stretched valuations, despite the company enjoying favorable mining grounds and record-high

Elders (ASX:ELD), Australia’s foremost rural services group, encountered a significant blow on Monday as its shares plummeted nearly a quarter following a trading update. The update revealed an earnings downgrade of between 20% and 30% for the fiscal year ending on September 30. The announcement, just six weeks away from the release of the company’s

The ASX is advancing in the initial session of the week, primarily driven by the strength of technology stocks, following Friday’s tech-driven surge on Wall Street. This rally in New York was ignited by a surprising jobs report revealing that the US economy added 303,000 jobs in March, surpassing expectations, with the unemployment rate dropping