Barrick Gold Corporation, the world’s second-largest gold miner after Newmont (ASX:NEM), joined its larger rival in benefiting from the surge in gold and copper prices during the three months to June. Newmont received an added boost from the Newcrest takeover, which propelled its earnings to more than triple those of the previous year, reaching $US838 […]
Barrick Gold shines in strong quarter Read More »
Shares in Home Depot, America’s biggest DIY company, held up well on Tuesday, considering how it shocked investors with a downgrade. The shares closed up 1.23% as investors ignored the downgrade, which saw Home Depot warn of a decline in annual profit and a bigger drop in its annual comparable sales. Normally, such a warning
Home Depot’s surprise: Why investors aren’t worried Read More »
US stocks rallied significantly overnight, inching closer to their record highs set last month. This upward trend was fueled by the latest inflation report, which showed signs of cooling price pressures. The Dow Jones Industrial Average closed 1.04 per cent higher at 39,765.64. The Nasdaq Composite experienced a more substantial jump of 2.43 per cent,
US stocks surge on cooling inflation Read More »
The National Australia Bank (ASX:NAB) says its monthly survey of business has picked up the first improvement in conditions in five months in July, while confidence eased from June’s uptick. The NAB said the improvement in conditions stemmed from gains in employment, while confidence eased and remained low, despite a small increase in forward orders.
NAB Survey: Modest improvement in July business conditions, confidence wanes Read More »
Online homewares retailer Temple & Webster (ASX:TPW) has bucked the trend of a subdued retail sector, delivering record annual sales and sending its share price skyrocketing. The company’s shares surged by 23.8 per cent by mid afternoon on Tuesday, reaching their highest level since early May. Temple & Webster’s 2023-24 sales climbed nearly 26 per
Temple & Webster defies retail slump Read More »
Investors didn’t like the annual results and outlook from Australia’s home-grown “Big Pharma”, CSL (ASX:CSL). The shares fell more than 4.5% after the company said Tuesday that it had lifted annual profit 20% thanks to strong growth in its main blood-plasma business and that it was forecasting another solid rise in earnings in the current
CSL posts strong profit but investors unimpressed Read More »
Seek (ASX:SEK) was always likely to report a weak result for 2023-24, with the company getting in early and flagging write-downs and losses from investments in Asia. So the 10 per cent drop on Tuesday after the lower figures emerged seems to have been an overreaction. But it was the grim outlook for the current
Seek slumps amidst grim outlook Read More »
Australian shares continued their upward trend for a sixth consecutive day, buoyed by generally positive earnings results. However, significant declines in CSL and Seek, following disappointing corporate updates, tempered overall gains. While earnings appear stable, market sentiment is optimistic about future growth prospects, particularly once interest rates begin to decrease. At the closing bell, the
ASX closes 0.17% higher following positive earnings results Read More »
Sydney-based investment manager, Challenger (ASX:CGF) produced a mixed earnings result for 2023-24, as assets under management (AUM) grew 21% but statutory net profit fell from the previous year. Challenger said it lifted assets under management to $127.1 billion, from $105 billion a year earlier, while its ‘normalised’ net profit before tax (NPBT) rose 17% to
Challenger’s AUM grows amid profit dip Read More »
Shares in glassmaker and packaging group, Orora (ASX:ORA), were up more than 19 per cent in late morning trading after it confirmed and rejected a takeover approach from a US private equity bottom fisher. Market reports had said US group, Lone Star, was sniffing around Orora as its big French takeover in 2023 weighs on
Orora rejects Lone Star takeover bid Read More »
