If this were Australia, the 2.8% first estimate of June quarter economic growth from the US would have caused panic among the worrywarts in the business media and chattering class—not to mention the scaredy cats at the Reserve Bank—who would have been reaching for their ‘Rate Rise Now’ lever before even getting out of bed […]
US economic growth surges to 2.8% in June quarter Read More »
The U.S. and Europe aim to reduce their reliance on China for rare earths, but low prices and Beijing’s market influence pose significant challenges. This year, rare-earth prices have dropped significantly, reaching approximately three-year lows. The spot price of neodymium-praseodymium, a key market segment, has decreased by nearly 20% since January to around $50,000 per
Big Tech and AI stocks resumed their sell off as investors continued to rotate into the undervalued small cap and cyclical sectors. The broad S&P 500 fell 0.5 per cent, while the Nasdaq closed 0.9 per cent lower. The Dow Jones was the best performer of the major indices finishing the day in the green
Rotation out of Tech into small caps continues Read More »
Shares and the Australian dollar experienced declines for the second consecutive session on Thursday due to weakened commodity prices, prolonging a challenging July for Australia’s base metal miners. The S&P/ASX 200 dropped 1.3%, or 102.5 points, to 7861 points, marking its worst day since June 11 and lowest close since July 10. The Australian dollar
ASX declines 1.3%: Commodity prices continue to fall Read More »
Shares and the Australian dollar experienced declines for the second consecutive session on Thursday due to weakened commodity prices, prolonging a challenging July for Australia’s base metal miners. The S&P/ASX 200 dropped 1.3%, or 102.5 points, to 7861 points, marking its worst day since June 11 and lowest close since July 10. The Australian dollar
ASX declines 1.3%: Commodity prices continue to fall Read More »
Most foreign reports of the second quarter results highlighted how well the world’s biggest gold miner performed, particularly in terms of gold and copper production, cash flows, and earnings. However, these reports failed to mention that, if not for the all-paper takeover of Newcrest, Newmont’s performance would have been flat to weak, consistent with results
Newcrest takeover boosts Newmont’s Q2 performance Read More »
Is there a liquidity crunch emerging in the Chinese money markets and financial system after the country’s central bank raised eyebrows on Thursday with what amounts to a second cut in a key interest rate in four days—an unheard-of move? At the same time, the central bank trimmed collateral requirements, allowing banks to sell more
Unprecedented rate cuts Read More »
Fortescue Metals Group (ASX:FMG) managed to recover most of the tonnage lost due to December’s derailment and adverse weather in the first quarter of this year, according to its 2023-24 production and sales report released on Thursday. Fortescue reported shipping 191.6 million tonnes of iron ore, including a small contribution from its 69% Iron Bridge
Fortescue Metals Group recovers after setbacks Read More »
Times are still tough for Macquarie Group (ASX:MQG), despite a pickup in some of its businesses in the June quarter compared to last year. Ahead of the AGM on Thursday, the investment bank and fund manager said its commodities and global markets’ first-quarter performance improved from last year due to increased trading activity in North
Macquarie Group faces challenges despite improved performance Read More »
Like many of its rivals, gold miner Northern Star (ASX:NST) saw a strong end to the June financial year as record gold prices caused revenue to surge, aided by a weak Aussie dollar. Every other miner with ounces in the market has experienced a golden tinge thanks to the combination of record prices for the
Northern Star sees record earnings Read More »
