Investor concerns over rising living costs and their potential impact on retail sales and bank lending drove accelerated selling in Australian shares, leading to a 1.1% decline in the S&P/ASX 200 to 7721.6 points. Meanwhile, Wall Street traded flat, with the S&P 500 showing no significant change, while the Australian dollar dipped 0.1% to $US65.7c […]
ASX closes 1.1% lower: Consumer Discretionary plummets 2.6% Read More »
Shares in Brisbane-based Super Retail Group (ASX:SUL) were down 6% at one stage on Thursday after it joined the weak trading confession club that already contains rivals Bapcor, Baby Bunting, Woolworths, J B Hi-Fi, but not Temple and Webster or Coles. Unlike some of its peers (J B Hi-Fi, for example), Super Retail at least
Super Retail Group joins weak trading confession club Read More »
Shareholders in Orica (ASX:ORI), the world’s biggest explosives group, will get a tiny lift in their interim dividends after the company boosted earnings off the back of lower costs. Orica reported a 10 percent increase in earnings due to lower input costs, beating analyst estimates, and will pay shareholders 19 cents a share – up
Orica boosts earnings Read More »
The Albanese government is set to defy global trends with the release of a comprehensive plan today, backing the continued extraction and use of gas beyond 2050. This move, in defiance of calls to phase out fossil fuels globally, signals a strategic shift in Labor’s approach to energy policy. Resources Minister Madeleine King is poised
Gas as a pillar of Australia’s future Read More »
To register for Friday’s webinar click here. Alliance Nickel (ASX:AXN) has announced that the Australian Federal Government has granted its 100% owned NiWest Nickel Cobalt Project Major Project Status (MPS). The MPS will provide Alliance with access to the Major Projects Facilitation Agency, providing additional resources to assist streamlining a range of regulatory approvals for
Stocks of the Hour: Alliance Nickel, Marquee Resources, M3 Mining Read More »
Australian shares opened lower by 0.4% due to Commonwealth Bank’s decreased quarterly profit, leading to selling pressure on financial stocks, while multiple retailers also declined on reports of reduced consumer spending amidst rising living costs. This reflects a diverse consumer landscape, with older generations weathering higher interest rates better than younger ones, echoing similar trends
ASX down 0.75% near noon: CBA records decrease in quarterly profit Read More »
The Commonwealth Bank (ASX:CBA) is expecting little growth in its full-year profit for the year ending on June 30th after revealing a dip in third-quarter earnings on Thursday. The bank attributed the 5% drop in unaudited cash earnings over the three months to March, amounting to $2.4 billion, to “slightly lower margins.” Although slightly better
Commonwealth Bank anticipates modest profit growth Read More »
Markets traded close to flat on lighter newsflow as reporting season now nears its end. The Dow Jones was the only one of the major indexes to finish in the green and extended its winning streak to six days. The Dow closed 0.44 per cent higher. The S&P 500 closed unchanged and the Nasdaq just
US markets trade sideways as earnings season winds down Read More »
BHP’s (ASX:BHP) ambitions to buy Anglo American are facing problems in Brazil – not from competition and ownership concerns over Anglo’s iron ore business in that country, but from the growing argument with the government over compensation for the 2015 Samarco dam wall collapse and disaster. BHP and its Brazilian iron ore rival, Vale, have
Challenges mount for BHP’s bid on Anglo American Read More »
De Grey Mining (ASX:DEG) seeks a massive $600 million from shareholders to establish the foundation for the debt required to finance its $1 billion-plus Hemi gold mine in the WA Pilbara. The equity raising, as stated in a release to the ASX by De Grey, will involve the issuance of 545.5 million shares. This includes
De Grey seeks $600m capital raise Read More »
