June 2024

The S&P 500 and the Nasdaq Composite hit new highs as Apple shares surged on AI news. The S&P 500 added 0.27 per cent to close at a new high 5,375.32. The Nasdaq rallied 0.88 per cent to also set a new level at 17,343.55. The 30-stock Dow Jones bucked the trend to close 0.31 […]

The sharemarket experienced a significant decline as anticipation grew for the US Federal Reserve to delay immediate rate cuts, compounded by political uncertainty stemming from far-right gains in European elections and concerns about the bloc’s future. The S&P/ASX 200 and All Ordinaries both dropped 1.3%, with materials and interest-rate-sensitive property stocks leading the sell-off, while

The recent federal budget had no positive impact on business conditions and confidence, according to the May monthly survey from the National Australia Bank. In fact, business confidence returned to a negative reading in May, while conditions continued to soften, confirming the continuation of the weak first-quarter GDP report. Business conditions fell 1 point to

Alkane Resources (ASX:ALK) surprised on Tuesday with a downgrade of its 2023-24 gold production and cost estimates for its Tomingley mine, even though the shares failed to reflect the news with an early session rise. Alkane blamed the slow ramp-up of its Rosewell underground expansion, stating it was not “sufficiently rapid to allow the original

Glen Finegan, Lead Portfolio Manager of Skerryvore, discusses the company’s bottom-up approach to investing in emerging markets, emphasising governance, pricing power, and diversification as key drivers of long-term success. Chris Gosselin: Welcome. My name’s Chris Gosselin from Australian Fund Monitors. Today I’m talking to Glen Finegan from Skerryvore, who’s all the way from Scotland. Actually,

Bapcor (ASX:BAP) has responded to the media speculation and confirmed the receipt of a non-binding, indicative proposal from Bain Capital Private Equity, LP. Under the terms of the Indicative Proposal, Bapcor shareholders would receive $5.40 cash per share. Shares are trading 10.32 per cent higher at $4.81. Summit Minerals (ASX:SUM) has announced high grade assay

At 11:30am, the S&P/ASX 200 is 1.27 per cent lower at 7,760.30, mirroring losses in Europe due to better-than-expected performance by far-right parties in weekend elections, and in anticipation of the US Federal Reserve’s resistance to immediate rate cuts.  The SPI futures are pointing to a fall of 69 points. Best and worst performers All sectors

Beach Energy (ASX:BPT) has flagged more asset impairments for the year to June 30, with the total bill topping $1.1 billion. These write-downs are in addition to the cost of cutting 30% of the company’s workforce earlier this year after a new CEO, Brett Woods, took the reins at the company, which is 30% controlled

Struggling automotive parts retailer and distributor, Bapcor (ASX:BAP), has confirmed that US private equity group Bain Capital has lobbed a non-binding offer at around $5.40 a share, approximately $1 above Friday’s close of $4.36. The mooted offer price is a large discount to the $6 plus level the shares were trading at in late April

Ah, the dangers of groupthink in financial markets—the gold edition. There are some very dumb people among gold bulls—real, imagined, and in hedge funds and the like—who ignore the possibility of negative events hitting sentiment and momentum just when they should have been alert to the dangers. Take last week—at Thursday’s close, gold futures on