Shares in Anglo American ended down 2.4% in London after news broke that it had suspended production at the Grosvenor premium coking coal mine in central Queensland due to a fire that began Saturday morning and is still ongoing. At the same time, world coking coal prices leapt 5% in late trading in Singapore, the […]
Anglo American shares fall amid Grosvenor mine fire Read More »
US corporate profits are set to achieve their fastest growth rate in nearly three years, providing a substantial lift to the stock market as it approaches record levels in the latter half of the year. Analysts project a robust 9% increase in earnings for the June quarter compared to the same period last year, marking
US corporate profits surge to near three-year high Read More »
US shares rose on Monday led by the Tech sector which pushed the Nasdaq to a new record ahead of this weeks 4th July holiday. The tech-heavy Nasdaq finished 0.83 per cent higher to finish at a record 17,879.30. The S&P 500 closed 0.27 per cent higher and the Dow Jones finished 0.13 per cent
Tech names push Nasdaq to new record Read More »
Higher-than-expected inflation will take at least 12 months to approach the Reserve Bank of Australia’s (RBA) target, raising doubts about Treasurer Jim Chalmers’ optimistic forecast and complicating prospects for interest rate relief before the next federal election. A quarterly survey by The Australian Financial Review, polling 38 economists, reveals that the median expectation for underlying
Inflation concerns loom over Australia’s economic forecast Read More »
Nvidia has emerged as a standout performer in the financial markets during the first half of 2024, with its stock soaring by an impressive 150%. This surge has notably outpaced the S&P 500 index, which saw a more modest 15% increase over the same period, according to a report by the Wall Street Journal. Examining
Nvidia stock surges more than 150% in the first six months of 2024 Read More »
In a pivotal move for environmental conservation, a ban on Heavy Fuel Oil (HFO) has been implemented in Arctic waters, aiming to mitigate its profound ecological impact. HFO, a thick and economical fuel favored by many shipping vessels, is notorious for emitting significant amounts of black carbon, accelerating the melting of Arctic ice and snow.
Ban on heavy fuel oil takes effect in Arctic waters Read More »
On Monday, the Australian sharemarket initially declined slightly with the S&P/ASX 200 Index closing down 0.2% at 7750.7 points, as seven sectors recorded losses. The market recovered, driven by a surge in coal stocks following the suspension of Anglo American’s Queensland mine, boosting Coronado Global Resources by 8.9%, Whitehaven Coal by 6.3%, and Stanmore Resources
ASX closes 0.2% lower: Coals stocks rebound Read More »
America’s eight banking giants revealed their capital management plans late Friday after the US Federal Reserve had cleared them in the latest stress test of the health of the country’s financial system. Higher dividends and buybacks were announced after the 4 pm close on Friday for Wall Street, as per a directive from the Fed.
Wall Street banks announce higher dividends and buybacks after stress test Read More »
Australia’s export earnings from natural resources dropped by roughly 10% over 2023-24 and are forecast to fall further in the coming year, according to the June quarter Resource and Energy Quarterly, released on Monday. Lower prices for iron ore and coal, as well as some renewables, will be the culprits, along with expectations for a
Australia’s resource export earnings forecast to fall further Read More »
CoreLogic data showed national average home prices rose 8% over 2023-24, up from a 2% fall in 2022-23.However, trend monthly growth has slowed from the highs seen mid last year with prices up 0.7% in June.And the pace of gains was highly diverse ranging from a small fall in Hobart to booming conditions in
