As expected, Kiwi casino group SkyCity (ASX:SKC) has reported a significant loss for the 2024 financial year, following a series of one-off charges related to the value of its businesses in Adelaide and Auckland. The NZ$143.3 million net loss capped a year filled with challenges for the company, which have continued into early 2024-25 with […]
SkyCity gambles on survival Read More »
Western investors have surged back into gold, positioning themselves for anticipated U.S. interest rate cuts this year, driving prices to record highs this week. On Tuesday, gold prices reached $2,531 per troy ounce, marking a more than 20% gain for the year. This rally has been fuelled by institutional investors and bullish hedge fund bets.
West wakes up to gold Read More »
Nearly $90 billion flowed into U.S. money market funds in the first half of August, as investors sought to secure attractive yields ahead of an anticipated interest rate cut by the Federal Reserve next month. Money market funds, which invest in cash and short-term assets like government debt, attracted net inflows of $88.2 billion between
Investors flood money market funds Read More »
The S&P 500 surged on Wednesday, fuelled by optimism that the Federal Reserve will lower interest rates at its upcoming meeting. The index gained 0.42 per cent to close at 5,620.85, marking its ninth increase in ten sessions and nearing its all-time high. The Nasdaq Composite also climbed, adding 0.57 per cent to reach 17,918.99,
S&P 500 rallies on Fed minutes Read More »
Breville Group (ASX:BRG), the 28%-owned global appliance group led by Solomon Lew, reported a strong financial performance for the 2023-24 fiscal year. The company experienced higher sales, earnings, and dividends. In a statement to the ASX on Wednesday, Breville announced a 7.5% increase in net profit to $118.5 million for the 12 months ending June.
Breville brews up strong results Read More »
Like Fletcher Building, auto parts group Bapcor (ASX:BAP) was always likely to report a substantial loss given the trading and management challenges exposed from February onwards. These problems prompted an unwanted approach from private equity firm Bain & Co of the U.S. at $5.40 per share, which was rejected. As the company struggled to address
Bapcor’s gamble on a new CEO Read More »
Brambles (ASX:BXB) delivered another solid financial result for the year ending June 30th. Investors enthusiastically responded, driving Brambles shares up by more than 9% at one point on Wednesday, reaching a new 52-week high. However, the real highlight for shareholders was the substantial increase in dividends. Brambles promised a higher payout ratio for this financial
Brambles: The future of logistics is here Read More »
By far, the biggest positive reaction to a June 30 report came for WiseTech Global (ASX:WTC), the ASX’s premier IT growth stock. The company’s shares surged more than 19% at the opening of trade after revealing better-than-expected figures for the 2023-24 financial year. The shares hit a new all-time high of $114.99 in the morning
The experts were wrong: WiseTech’s triumphant return Read More »
Corporate Travel Management (ASX:CTD) appears to have been stingy in setting its final and full-year dividend for 2023-24. However, a larger buyback for the coming year should help mitigate shareholder disappointment, as evidenced by the initial share price decline post-results. The shares dropped more than 10% at one point, but losses were later trimmed to
Corporate Travel Management’s European woes cast a shadow over global growth Read More »
At the closing bell, the S&P/ASX 200 was 0.16 per cent higher at 8,010.50. The Australian share market exhibited a mixed performance today, reflecting the interplay of various economic factors. While a late surge in mining stocks and a strong showing from the technology sector provided a positive impetus, the energy sector faced headwinds, dampening
ASX closed 0.16% higher: WiseTech surges on profit increase Read More »
