At the closing bell, the S&P/ASX 200 was 0.23 per cent higher at 7,587, as National Australia Bank exceeded analysts’ expectations with a $3.55 billion cash profit, while US markets remained mixed following the Federal Reserve’s decision to maintain interest rates and Chairman Powell’s indication of unlikely further rate hikes. Meanwhile, Woolworths faced a 4.2 […]
ASX closes 0.23% higher: Woolies tumbles 4.2% Read More »
The 30%-plus plunge in the Bapcor (ASX:BAP) share price after Thursday’s trading update told the story of why incoming CEO, Paul Dumbrell, recoiled and quit the gig a day before he was due to start on May 1. In short, the update confirmed the bad news of a plunge in project profits, and the shares
Bapcor plunges 30% Read More »
Australian shares showed resilience, edging higher on Thursday morning despite concerns about prolonged higher interest rates, with the S&P/ASX 200 up 0.2%. National Australia Bank saw a modest increase despite a decline in cash profit, while Woolworths experienced a significant drop of 3.9% due to lower-than-expected half-year profit. Meanwhile, US sharemarkets had a volatile session,
ASX up 0.32% despite concerns of prolonged interest rates in the US Read More »
To register for Friday’s webinar click here. Krakatoa Resources (ASX:KTA) has announced that new niobium-REE gravity target has been identified at Mt Clere. The assays show an extensive 40 km long target catchment area potentially prospective for alkaline intrusive systems including carbonatites. Shares are trading 72.73 per cent higher at 1.9 cents. Immutep (ASX:IMM; NASDAQ:IMMP)
Stocks of the Hour: Krakatoa Resources, Immutep, ABx Group Read More »
Woolworths (ASX:WOW) fell even further behind rival Coles in the third quarter, as sales growth in it revenue and profit centre – Australian food (its supermarkets) slowed to 1.5%, less than a third of the sales growth rival Coles reported from its supermarkets reported on Tuesday. The country’s largest supermarket chain said total group sales
Woolworths sales slows Read More »
As forecast by most analysts, it was a “steady as she goes” outcome for the National Australia Bank’s (ASX:NAB) 2023-24 half-year, with shareholders to receive a small lift in their interim payout and a larger buyback, despite a well-anticipated dip in earnings. The bank reported a 12.8% fall in first-half cash profit to $3.55 billion,
NAB reports steady results Read More »
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses home prices. Key points:CoreLogic data showed national average home prices rose another 0.6% in April, the same as in February and March.Average monthly price gains are well down from their highs around May last year as high rates and poor sentiment impact,
Albemarle, the world’s largest lithium producer, joined rivals in Australia and other countries in being heavily affected by the downturn in world prices for the key battery material. Australian rivals like Pilbara Minerals, Mineral Resources, and IGO have reported massive falls in revenue, earnings, or even operating losses—or worse, in the case of Core Lithium—suspension.
Albermarle gets hits by lithium price fall Read More »
Canadian miner Barrick Gold topped earnings estimates for the March quarter, bolstered by a rally in bullion prices during the period. Net earnings surged 146% to $US295 million from $US120 million a year ago. Revenue totaled $US2.74 billion for the quarter, up from $US2.64 billion in the first quarter of 2023. After an early rise,
Barrick Gold tops earnings estimates for the quarter Read More »
The US Federal Reserve sent a couple of signals to investors with its decision to leave rates steady at its latest meeting this week. The central bank and Chair, Jay Powell, ruled out – for the time being at least – a rate cut and a rate rise – which some excitable economists and analysts
US Fed rules out rate hikes Read More »
