August 5, 2024

US stocks plummeted on Monday, with the Dow Jones Industrial Average suffering its worst day in nearly two years. A surge in recession fears ignited by a disappointing jobs report sent shockwaves through global markets. The Dow plunged 1,033.99 points or 2.6 per cent to close at 38,703.27. The Nasdaq Composite and S&P 500 also […]

Woodside Energy (ASX:WDS), Australia’s largest oil and gas developer, has announced its second acquisition of US assets within weeks. The Perth-based company has agreed to pay $2.35 billion for a low-carbon ammonia project in Texas from OCI Global. This follows Woodside’s $1.2 billion takeover of the struggling US liquefied natural gas developer Tellurian in late

The investor shift from Big Tech to smaller stocks in July gave the Russell 2000 index one of its best months in years, marking its biggest outperformance against mega caps since 2001. However, some of the gains have already started to unwind. The small-cap benchmark rose 10.2 percent last month as investors grew disenchanted with

An Australian start-up, backed by mining giant Rio Tinto (ASX:RIO), is raising funds to develop a lithium extraction technology that could unlock new reserves of this essential battery component and reduce global reliance on China for refining the commodity. ElectraLith, a spin-off from Melbourne’s Monash University, has successfully produced battery-grade lithium hydroxide from various raw

At the closing bell, the S&P/ASX 200 was 3.7 per cent lower at 7,649.60. The Australian share market has plummeted nearly 5% over the past two days, driven by escalating US recession fears ignited by disappointing jobs data. This sell-off is the worst since June 2022, with the tech sector and banks bearing the brunt

David Franklyn, Executive Director and Head of Funds Management at Argonaut, explains how the Argonaut Natural Resources Fund has managed to outperform its benchmark despite a challenging year for the resources sector. He outlines his approach to portfolio construction and how global trends in energy transition and geopolitical uncertainty are shaping investment decisions.

At noon, the S&P/ASX 200 is 2.93 per cent lower at 7,710.70. This dramatic fall is primarily attributed to escalating US recession fears ignited by disappointing jobs data and a surge in Goldman Sachs’ recession probability indicator. Consequently, tech stocks, particularly those heavily invested in artificial intelligence, have suffered significant losses, leading the overall market

Private hospital operator Ramsay Health Care (ASX:RHC) has warned that write-downs and impairment charges against some of its European businesses will weaken its underlying 2023-24 results compared to the previous year. However, the profit from the sale of its Sime Darby venture will significantly boost statutory profit. Ramsay expects a net profit from continuing operations

Argo Investments (ASX:ARG) has maintained its final dividend for shareholders despite a dip in earnings to $253.0 million for the year ended June. This decline was due to lower distributions from portfolio companies. The group’s net tangible asset return after all costs and adjusted for company tax paid was +11.0%. This compares to the index

Killi Resources (ASX:KLI) has announced that gold-copper drill targets have been confirmed at the Mt Rawdon West Project, Queensland. Results include 238g/t Au and 5.4% Cu. Shares are trading 29.03 per cent higher at 12 cents. East 33 (ASX:E33) has announced that Yumbah will make an off-market takeover offer to acquire 100 per cent of