Iron ore prices fell again on Wednesday after data revealed Chinese crude steel production slumped for a second consecutive month in July. Figures from the country’s National Bureau of Statistics showed China’s crude steel output plummeting 9% to 82.9 million tonnes in July, compared to the same month in 2023 and June of this year. […]
Iron ore plunges as China’s steel production slumps Read More »
To register for Friday’s webinar click here. Latin Resources (ASX:LRS) has announced that Pilbara Minerals (ASX:PLS) will acquire 100% of the shares in Latin Resources by way of a Court-approved scheme of arrangement for approximately 20 cents per share. Pilbara Minerals has secured Latin Resources’ flagship Salinas Lithium Project which has potential to become a
Stocks of the Hour: Latin Resources, KALiNA Power, Perpetual Resources Read More »
Australia’s labour market defied expectations in July, with employment soaring by 58,200 positions, significantly outpacing forecasts. While this robust growth is a positive indicator of economic resilience, it also poses challenges for the Reserve Bank as it seeks to tame inflation. The unexpected jump in employment pushed the unemployment rate to 4.2%, slightly higher than
ASX up 0.23% near noon: Labour market adds almost 60,000 jobs Read More »
Wednesday saw a near-record low for the price of shares in Donald Trump’s Trump Media – which houses the loss-making Truth Social platform and is a rival to Elon Musk’s X and Meta’s Threads. The shares ended at US$23.97, near the lowest since the company was backed into a cash shell back in March. The
Is Trump Media’s stock tumble a warning for the 2024 presidential race? Read More »
Pilbara Minerals (ASX:PLS) is set to acquire Latin Resources (ASX:LRS) and its Brazil spodumene interests in an all-paper deal worth around $560 million. The acquisition will expand Pilbara Minerals’ global footprint in the lithium market by adding the Salinas Lithium Project to its Pilbara mining and processing operations in WA. Latin Resources shareholders will receive
Pilbara minerals to acquire Latin Resources in $560m deal Read More »
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 »
