Afternoon update: ASX down 0.12% driven by sell-off in Tech
22 Nov 2023 – The S&P/ASX 200 is trading 0.12 per cent lower at 7,069.50.
Afternoon update: ASX down 0.12% driven by sell-off in Tech Read More »
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ASX up 0.07% at noon as Tech trails behind
Australian shares are currently trading higher, with strong gains in mining stocks and utilities helping offset a fall in tech stocks following results from chipmaker Nvidia. The S&P/ASX 200 is 0.07 per cent higher at 7,083.20. Tech stocks are 1.3 per cent lower despite Nvidia’s results soaring past analyst expectations. The Nasdaq-listed stock has fluctuated
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Stocks of the Hour: Helix Resources, 4DMedical, Westar Resources
To register for Friday’s webinar click here. Helix Resources (ASX:HLX) announced that a 15,000 to 25,000 metre drill campaign is taking shape as ‘essential’ to test the best of fifty copper targets being defined in the Western Group Tenements. In response, Helix’s Chair, Mike Rosenstreich commented: “We are now seeing a surge of data and
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Deep dive into CSL, NUF & IPH and charts on China risks
Fund Manager Chris Pedersen looks at CSL (ASX:CSL), Nufarm (ASX:NUF), IPH (ASX:IPH) and charts on China risks. The following transcript was automatically generated: Hello. My name’s Chris Patterson, and this is Stock Watch for Wednesday, the 22nd of November 2023. Any advices? General advice may not be suitable for you. Always consult an advisor before
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The Fed’s meeting minutes gives no sign of interest rate cuts
Stocks were down Tuesday as traders assessed the latest Federal Reserve meeting minutes, where officials gave no indication of interest rate cuts. The Federal Reserve has expressed the need for a “restrictive” monetary policy due to concerns about stubborn or rising inflation, keeping the benchmark interest rate unchanged at 5.25 per cent to 5.5 per
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The Fed’s meeting minutes gives no sign of interest rate cuts
22 Nov 2023 – Stocks were down Tuesday as traders assessed the latest Federal Reserve meeting minutes, where officials gave no indication of interest rate cuts.
The Fed’s meeting minutes gives no sign of interest rate cuts Read More »
Oil prices hold gains amid speculation of deeper OPEC+ supply cuts
Oil prices retained the bulk of a two-day surge, with global benchmark Brent briefly surpassing $82 a barrel, driven by heightened speculation that OPEC+ may consider further supply cuts at its upcoming meeting this weekend. This follows a more than 6 percent increase in prices over the previous two sessions, and West Texas Intermediate (WTI)
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MMG acquires Botswanan copper mine to secure green energy supply
In a recent development, Chinese-backed mining company MMG has successfully acquired the Canadian firm Cuprous Capital, the owner of Botswana’s Khoemacau copper mine. The purchase reflects MMG’s strategy to secure a stable supply of copper, a crucial metal for the green energy transition. Khoemacau mine is notable for its high-grade copper deposits, averaging around 2
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Fed minutes: Hawkish tone, gold rebounds, and hedge fund concerns
The Fed’s latest policy meeting minutes were predictably a touch hawkish—indicating rates would stay higher for longer. One commentary described it as ‘a slight tightening bias.’ However, gold bounced back over $2,000 an ounce on Comex, gaining 1% on the day. The Comex front-month price settled just over $1,998 an ounce, having touched $2,009 an
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Inflation poses challenges for RBA
Inflation poses a significant challenge for the Reserve Bank and Governor Michele Bullock, according to the minutes of the bank’s recent policy meeting, where interest rates were raised. The minutes confirm the decision to increase the cash rate in response to persistent inflation and a stronger-than-expected economy. The 25 basis-point increase brought the rate to
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