July 2024

Has BHP (ASX:BHP) quietly dropped its boycott of investing in coal in Queensland in protest at the Labor Government’s significant increase in coal royalties? After spending much of 2023 and 2024 telling anyone who would listen that they would not invest because of the royalty increase, the issue wasn’t mentioned in Wednesday’s financial year operations […]

No more Green Fortescue. Andrew “Twiggy” Forrest’s Fortescue Metals Group (ASX:FMG) will sack 700 people, scale back its green ambitions, and reintegrate the group into one corporate structure. A one-page statement to the ASX late Wednesday revealed the plans, previously outlined by Forrest in a message to staff. The bottom line is that iron ore

Wednesday’s big tech sell-off saw the top three most valuable stocks in the US become two if you use the $3 trillion value line as the qualifier. Shares in Nvidia, the AI chip star, fell, dropping under $3 trillion for the first time in a couple of weeks after slumping 6.6%, taking the closing value

While global investors are increasingly confident that the global economy is headed for a so-called soft landing, they have lost some of their fears about inflation, according to the July Bank of America Global Fund Manager Survey, released on Wednesday. The survey showed that 68% of respondents now expect a soft landing as the most

For the second time this year, German sportswear maker Adidas has boosted its earnings guidance, continuing to defy analysts who forecast doom and gloom for the company after it cut ties with rapper Kanye West in late 2022 over anti-Semitic remarks he had made. The decision to end the deal with West left Adidas stuck

On Wednesday, the Australian sharemarket surged to a new intraday high, driven by a strong performance in interest rate-sensitive sectors such as technology and real estate. The S&P/ASX 200 Index closed 0.7% higher at 8057.9 points, with all 11 sectors seeing gains. Property stocks rose by 1.5%, led by Goodman and Scentre, while the information

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses Australian shares. Key pointsWith Australian shares reaching a new record high we have revised up our slightly our expectations for the ASX 200 this year (from 7900 to 8100) reflecting prospects for lower interest rates globally and eventually in Australia boosting the

To register for Friday’s webinar click here. Andromeda Metals (ASX:ADN) announced that it has entered into a binding Offtake Agreement with Traxys Europe S.A. for the sale and purchase of Andromeda’s kaolin products for the first 5 years of production. The Agreement supersedes the Heads of Agreement signed previously and secures the binding offtake commitments

At 11:35am, the S&P/ASX 200 is 0.79 per cent higher at 8,062.60. The SPI futures are pointing to a rise of 61 points. Best and worst performers All sectors are in the black. The best-performing sector is Information Technology, up 1.61 per cent. The sector with the fewest gains is Energy, up 0.34 per cent.

The troubled Kiwi dairy group Synlait Milk (ASX:SM1) may have received a loan from its major Chinese shareholder to pay off its bank debt on Monday to the tune of NZ$130 million, but it is still in a precarious position, as evidenced by its withdrawal of already weak 2024 guidance on Wednesday. The previously announced