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The consumer staples and information technology sectors faced notable declines due to disappointing earnings reports. Dairy producer A2 Milk’s shares (ASX:A2M) plummeted 13.6% after warning of a challenging year in its vital Chinese market with an expected double-digit value decline. Similarly, Elders’ shares (ASX:ELD) dropped 10.8% following a profit forecast downgrade linked to weaker-than-expected sales. […]

The S&P/ASX 200 index is currently trading 0.11 per cent lower at a value of 7,140.20. The SPI futures are down by 14 points. When turning to sectors, the Consumer Discretionary sector is the best-performing, up by 1.24 per cent, while the Consumer Staples sector is the worst-performing, down by 1.33 per cent. Among large-cap

Strong indications emerged on Monday that Solomon Lew might consider dismantling his vast $3.5 billion fashion retail conglomerate, Premier Investments (ASX:PMV), following the unexpected resignation of CEO Richard Murray. In a disclosure to the ASX on Monday, Premier Investments announced its intention to conduct a structural review. The decision stems from the recognition of the

Reuters reported early on Monday that Asian investors were holding their breath, waiting to see how committed Beijing was to policy easing through anticipated rate cuts. Their fears were met with only a slight 0.10% reduction in the Loan Prime Rate (LPR), from 3.55% to 3.45%. This cut was smaller than last week’s 15-point decrease

Red Metal (ASX:RDM) has announced that their new assay results have confirmed rare earth oxide at the Sybella project in Northwest Queensland. Red Metal believes the REO mineralisation should be recoverable by the application of a weak acid solution. Shares are trading 9.33 per cent higher at 8.2 cents. Gladiator Resources (ASX:GLA) announced that it

Ampol (ASX:ALD), following an unforeseen breakdown at its Brisbane oil refinery, has reported a 26% decrease in core net profit for the first half of the year ending in June. The net operating profit, excluding one-off events, which is closely observed by analysts, plummeted from $447.7 million in the first half of 2022 to $329.9

Westpac (ASX:WBC) has disclosed an unaudited net profit of $1.8 billion for the quarter ending on June 30. In contrast to its competitors, such as Commonwealth Bank, NAB, and ANZ, Westpac does not provide cash earnings figures. It also refrained from offering any comparison to its performance in the June 2022 quarter, as no data

The A2 Milk Company (ASX:A2M) has announced a notable 27% rise in profit for the fiscal year 2022-23. This achievement was primarily driven by the company’s success in capturing a larger share of the contracting Chinese infant formula market. However, the company has issued a cautionary note, signaling that the coming year will likely pose

At noon, the S&P/ASX 200 is 0.16 per cent lower at 7,136.50. The SPI futures are pointing to a fall of 8 points. Australia’s stock market is down in response China’s central bank’s decision to establish the one-year loan prime rate at 3.45%, which was lower than anticipated. This rate had been at 3.55% in

Stocks closed Friday’s session with weekly losses, as Wall Street’s August struggles continue. The Dow Jones Industrial Average added 25.83 points, and was roughly 0.07 per cent higher to close at 34,500.66. The S&P 500 was lower by 0.01 per cent, finishing at 4,369.71. The Nasdaq Composite slipped 0.2 per cent, ending the session at