Stocks fell on Tuesday to kick off the first trading day of a holiday-shortened week, weighed down by a jump in crude oil prices. The jump was as a result Saudi Arabia and Russia extending their voluntary supply cuts. Saudi Arabia will continue its unilateral production cutback of 1 million barrels a day until December. […]
Energy stocks lift as Saudi Arabia and Russia extend oil supply cuts Read More »
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the cash rate. Key points:The RBA left its cash rate on hold at 4.1% for the third month in a row.This was in line with our own forecast, the consensus of economists and the money market’s expectation.The decision to hold makes sense
Melbourne-based packaging company, Orora (ASX:ORA), is set to raise over $1.3 billion from its shareholders in order to acquire Saverglass, a prominent French glass bottles manufacturer valued at $2.16 billion (1.290 billion euros). This move confirms earlier reports of Orora’s interest in expanding its presence in the European market. Orora, a spin-off of Amcor, will
Orora’s $2.16 billion deal to acquire French glass bottles maker Saverglass Read More »
The June quarter GDP data and 2022-23 national accounts for Australia might exceed expectations due to surprisingly robust contributions arising from a weaker trade performance during the same period, coupled with increased government spending. According to data from the Australian Bureau of Statistics, the public (government) demand could potentially contribute 0.5% to GDP growth, while
June quarter GDP might exceed expectations Read More »
Shares in the African gold miner Tietto Minerals (ASX:TIE) experienced a significant drop of more than 25% on Tuesday, following the company’s decision to revise downward its production forecast for the latter half of 2023 at the newly-operational Abujar mine in West Africa. In a pre-market update, the mining company adjusted its gold production projection
Tietto Minerals plummets Read More »
In his latest monthly meeting statement, Governor Philip Lowe of the Reserve Bank of Australia has underscored the challenges within the Chinese property sector as a significant worldwide issue, both for Australia and beyond. Lowe’s statement, marking his final post-meeting address, particularly highlighted the problems plaguing the Chinese property sector among a roster of potential
Chinese property sector clouded in uncertainty Read More »
For the third consecutive month, the Reserve Bank, led by Governor Philip Lowe, has opted to keep interest rates unchanged, marking the conclusion of his extensive career at the bank. This decision maintains the bank’s key cash rate at a decade-high of 4.1%, a level it has held since the increase in June. The widely
RBA holds rates as Philip Lowe concludes tenure Read More »
The underlying rationale for the divorce between Albemarle, the prominent US lithium giant, and Perth’s Mineral Resources (ASX:MIN) has now become apparent. A couple of years ago, these two companies appeared to be drawing closer through a series of joint ventures and alliances, involving MinRes’s spodumene operations in Western Australia and its ambitions to ascend
Albemarle and Mineral Resources’ divorce Read More »
At the closing bell, the S&P/ASX 200 was 0.06 per cent lower at 7,314.3. The central bank’s September policy meeting resulted in no changes to the cash rate target or the interest rate paid on Exchange Settlement balances, maintaining them at 4.10% and 4.00% respectively. Over the past year, interest rates have been raised by
ASX closes 0.06% lower as RBA holds rates Read More »
05 Sep 2023 – The S&P/ASX 200 is trading 0.38 per cent lower at 7,291.30.
