June 2024

Australian shares rebounded on Thursday, with the S&P/ASX 200 gaining 0.4% to reach 7749.7 points, driven by increases in sectors sensitive to interest rates such as property, banking, and technology. This rise halted a two-day decline influenced by lower commodity prices. The momentum in Australian markets mirrored Wall Street’s performance, where the S&P 500 surged […]

The competition regulator, the ACCC, has raised questions about the planned $8.8 billion backward merger between Sigma Healthcare (ASX:SIG) and Chemists Warehouse, citing ‘competition concerns’. In a statement issued Thursday morning, the Commission said it was outlining “preliminary competition concerns” with Sigma’s proposed acquisition of Chemist Warehouse Group Holdings in a Statement of Issues. “This

To register for Friday’s webinar click here. Pacific Nickel Mines (ASX:PNM) announced that mining operations at the Kolosori Nickel Project, in the Solomon Islands has achieved a significant milestone. The Project is now achieving a throughput of two ships per month, with ramp-up to full production of 1.5mtpa nearing completion, equivalent to three ships per

In May, Australian employment rose by 39,700, reducing the unemployment rate to 4%. This exceeded expectations of 30,000 new jobs and highlights ongoing strength in the labor market, influencing Reserve Bank policies aimed at managing inflation despite economic growth challenges anticipated for the second quarter. At 11:30am, the S&P/ASX 200 is 0.44 per cent higher

There were no signs of weakness in the May jobs data, with nearly 40,000 new jobs, a small fall in unemployment, a drop in the jobless rate, and continuing high levels of participation. Australian Bureau of Statistics (ABS) data showed that more full-time jobs were created in May, while there was a small drop in

In an action-packed day, US inflation in May cooled slightly. The US Federal Reserve then held rates steady at its meeting but reduced the number of rate cuts it projects for this year to one from the forecast of two in March and three last December. The prediction of a single rate cut surprised investors

The great Apple charge continued Wednesday, with the company’s market value topping Microsoft’s for a while during trading, regaining the mantle as the world’s most valuable company. The price jump came as investors realized that Monday’s AI announcement—now called Apple Intelligence—had been a masterstroke and not a flop. It was the first indication of how

As widely expected, the European Union will impose significant tariffs on imports of Chinese battery-powered EVs. However, the tariffs will not be uniform and will vary from company to company. Naturally, China is upset by the news, especially as the EU claimed that Chinese vehicles benefit “heavily from unfair subsidies” and pose a “threat of

The S&P 500 and the Nasdaq both hit all time highs closing at new records following the Fed’s policy announcement and May CPI numbers that pointed to easing inflationary pressures. The S&P 500 closed 0.85 per cent higher to finish the day at a new record 5,421.03. The Nasdaq rallied 1.53 per cent to also

In March, Magmatic Resources (ASX:MAG) announced a joint venture with Fortescue (ASX:FMG) for the Myall copper-gold prospect in central western NSW. Myall is in the same area as Alkane’s Kaiser and Boda finds, which are huge, with hundreds of millions of tonnes in mineral resource estimates (MRE) for copper and gold. The two prospects are