September 30, 2024

The S&P 500 achieved a record closing high on Monday, capping off a successful month and quarter. The Dow Jones Industrial Average climbed 17.15 points, or 0.04 per cent, to finish at 42,330.15. The S&P 500 rose 0.42 per cent, closing at 5,762.48, while both indexes set new records. The Nasdaq Composite also gained, rising […]

Profit pressures continue in the global car industry, with the French-Italian-US group Stellantis and Aston Martin both joining the growing chorus of earnings downgrades on Monday. In mid-September, German giants BMW and Mercedes downgraded their profit forecasts for 2024 and 2025, blaming weak demand from China for luxury cars. Volkswagen, the biggest carmaker in Europe,

The Rupert Murdoch-backed REA Group has been forced to abandon its attempt to take over the UK website Rightmove after its fourth offer was rejected on Monday. September 30 was the deadline for the “put up or shut up” provision in UK takeover rules, which requires a prospective bidder to become an actual bidder within

Another massive surge in iron ore prices occurred on Monday, bringing the total gain since China began announcing stimulus measures last Tuesday to over 20%. The price of 62% Fe fines surged to a day’s high of more than $113.50 per tonne—the highest since May—before easing in late afternoon trading to close at $108.90 per

Contrasting performances were seen in Asia’s two major stock markets: China and Japan. China’s markets experienced their best single day of trading since late 2008, following the announcement of more than half a trillion in stimulus spending as the GFC shut down world economies. After all the stimulus news last week, it was the best

China continues to roll out more stimulus measures, with a slew of actions announced at national and local government levels on Sunday evening to help mortgage holders and property companies. Not only did the People’s Bank of China (PBOC) reveal that it would instruct banks to lower mortgage rates by the end of October, but

Australian Rare Earths (ASX:AR3) has significantly expanded its Koppamurra MRE, increasing it by 27% overall and by 70% in higher-grade subsets. This positive development strengthens the company’s position as a potential major supplier of critical rare earths. Shares are trading 38.30 per cent higher 13 cents. Burley Minerals (ASX:BUR) has successfully acquired Exploration License, known

A significant loss for its latest financial year didn’t come as a surprise as Kiwi dairy group Synlait prepares for life after what was nearly a death experience a couple of months ago. If it hadn’t been for support from shareholders—especially China Bright, its largest stakeholder, and A2M, its former partner turned adversary—Synlait would have

At 11:45am, the S&P/ASX 200 is trading 0.81 per cent higher at 8,279., driven by strong gains in the mining and energy sectors. The index is on course for a new record close, having ended Friday at 8,212.20 points. In early Monday trading, Australia’s major iron ore miners are continuing their momentum from last week,

Chinese equities recorded their strongest week since 2008 after Beijing announced a $114 billion stimulus package aimed at boosting the stock market. The CSI 300 index, which tracks companies listed in Shanghai and Shenzhen, surged by 15.7%—its best performance since November 2008, when a similar stimulus was rolled out during the global financial crisis. This