Iron ore and coking coal prices slumped to their lowest levels in more than a year on Wednesday as slowing demand, continued overproduction, and weak sales hit the Chinese industry. The slide added to a very weak day for commodities in the wake of better-than-expected US consumer inflation data. The price of 62% Fe fines […]
Iron ore and coal prices plummet Read More »
Good inflation reports for the US and UK on Wednesday will give the respective central banks solace and set up the first rate cut for America in several years, encouraging a second cut in Britain. Annual US consumer price inflation fell to 2.9% in July, almost certainly signalling that the Federal Reserve will cut interest
Central banks rejoice as US and UK inflation cools Read More »
After a week of talks, chocolate and pet food behemoth Mars will shell out a whopping $36 billion (including debt) to snap up Kellanova, the maker of popular snacks like Pringles and Pop-Tarts. The family-owned Mars will fork over $83.50 per share in cold, hard cash for Kellanova, making it the biggest takeover in the
Mars gobbles up snack giant Kellanova for $36 billion Read More »
The Dow Jones Industrial Average gained ground on Wednesday, buoyed by encouraging US inflation data. The benchmark index rose 242 points, or 0.61 per cent, to close at 40,008.39. The broader S&P 500 added 0.38 per cent to finish at 5,455.21, extending its winning streak to five days. The Nasdaq Composite recovered from early losses
US stocks climb as inflation cools Read More »
The Australian sharemarket experienced a positive close on Wednesday, buoyed by strong performances from key companies and optimistic investor sentiment. The benchmark S&P/ASX 200 Index registered a gain of 0.3%, driven primarily by robust results from healthcare and industrial sectors. Pro Medicus and Seven Group Holdings were standout performers, with their share prices surging following
ASX grows 0.3%: Strong earnings boost investor confidence Read More »
Companies discussed include: ANZ Group Holdings (ASX:ANZ)Apple Netwealth Group (ASX:NWL)
Analysis of ANZ Group Holdings, Apple, Netwealth Group Read More »
As widely expected, New Zealand’s Reserve Bank has made its first cut in interest rates since early 2021. The RBNZ announced a cut of 0.25% in its official cash rate on Wednesday – it had been forecast after the central bank appeared to be moderating its hardline stance on monetary policy over the past two
Like it has boosted its June quarterlies for majors, Barrick and Newmont (ASX:NEM), the surging gold price has burnished the full-year results for local major, Evolution Mining (ASX:EVN). The NSW-focused gold and copper miner saw statutory profit soar 158% to $422.3 million for the year to June on a 44% jump in revenue to $3.215
Evolution Mining strikes gold Read More »
Kerry Stokes’ Seven Group Holdings (ASX:SVW) saw pre-tax earnings jump 20% for the year to June, as results from two associated companies, Beach Energy and Seven West Media, collapsed in the same period. Commentary from the company made it clear it was its products and services to the mining, construction, and home building sectors—newly boosted
Stokes’ Seven Group juggles wins and losses Read More »
Even AGL Energy (ASX:AGL) thinks its 2023-24 boom can’t be repeated in 2024-25. AGL revealed on Wednesday that its core profit almost trebled due to improved performance at its power stations and higher electricity prices. Shareholders also benefited, with an unfranked dividend nearly doubling from the previous year. However, the company indicated that the high
AGL posts record profit, warns of slowdown Read More »
