Afternoon update: ASX drops 1.69% as labour market remains tight
19 Oct 2023 – The ASX has experienced a significant drop of 1.69 per cent to 6,958.20.
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Afternoon update: ASX drops 1.69% as labour market remains tight
The ASX has experienced a significant drop of 1.69 per cent to 6,958.20. This decline is attributed to escalating tensions in the Middle East and an unexpected decrease in the jobless rate for September. The All Ordinaries index has also declined by 1.5 per cent. Notably, the unexpected fall in Australia’s jobless rate for September,
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Stocks of the Hour: Terrain Minerals, Superior Resources, Strickland Metals
19 Oct 2023 – A snapshot of the stocks on the move, featuring Terrain Minerals (ASX:TMX), Superior Resources (ASX:SPQ) and Strickland Metals (ASX:STK).
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ASX down 1.35% in anticipation of labour market figures
The big four Australian banks are projecting various outcomes for the labour market: Commonwealth Bank (CBA) expects a 25,000 job gain with a higher unemployment rate of 3.8%, while National Australia Bank (NAB) forecasts a 30,000-job increase with unemployment at 3.7%. ANZ predicts a 20,000-job rise and steady unemployment at 3.7%, and Westpac anticipates a
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Stocks of the Hour: Terrain Minerals, Superior Resources, Strickland Metals
To register for Friday’s webinar click here. Terrain Minerals (ASX:TMX) announced that Rare Earth Element (REE) mineralisation has been intersected across the Lort River project area. In-demand permanent magnetic metals of Neodymium (Nd) and Praseodymium (Pr) were encountered during the drill program and run as high as 43% of the Total Rare Earth Oxide grade.
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Standard Lithium advances US lithium production project
Standard Lithium Ltd. (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading player in the near-commercial lithium sector, has taken a significant step forward in its quest to revolutionise US lithium production. The company announced today the filing of its Definitive Feasibility Study for Phase 1A, the first commercial lithium project in the United States to break ground
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Gold reaches 11-week high amidst Middle East tensions
Amidst growing tensions in the Middle East, safe-haven buying drove gold to an 11-week high on Wednesday, with the front-month Comex futures price nearing the $2,000 an ounce mark. Comex data revealed that the front-month contract surged by more than $26, or over 1.3%, reaching just over $1,963 at 7 am, Sydney time. Over the
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China’s crude steel production hits 8-month low
China’s crude steel production plummeted to an eight-month low last month, as demand from the property and construction sectors remained feeble, keeping profit margins under pressure. The world’s largest steelmaker produced 82.11 million tonnes of crude steel in September, marking a 5% drop from the 86.41 million tonnes produced in August, as reported by China’s
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Netflix surpasses expectations with surge in subscribers
Netflix has once again defied gloomy analysts and investors by revealing a surge in subscriber numbers, thanks to the introduction of the ad-supported cheaper streaming option. The company also confirmed that price hikes are imminent. The better-than-expected news sent shares soaring by more than 12% just before 8 am Sydney time on Thursday. This rebound
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Tesla’s Q3 results: Mixed signals and market reaction
Tesla’s results for the three months ending in September weren’t impressive, especially when compared to Netflix, which pleasantly surprised the market. However, they managed to partially reverse the nearly 5% slide in the electric vehicle (EV) maker’s shares during regular trading, with a modest 1.3% rebound by 8:30 am Sydney time. In after-hours trading, Tesla
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