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At noon, the S&P/ASX 200 is 0.13 per cent lower at 7,347.80. Investors are processing a series of corporate earnings reports. The market was impacted by a decline in energy and mining stocks, which counteracted the gains made in the consumer discretionary sector. Notable events included BlueScope Steel (ASX:BSL) experiencing a 3.4% decrease due to […]

Shareholders of Baby Bunting (ASX:BBN) are set to receive a reduced final dividend for the 2022-23 financial year, as the company unveiled a nearly 50% decline in net profit due to vanishing sales growth and pressure on profit margins. The company informed the ASX on Friday that shareholders would be granted a final dividend of

Newcrest Mining (ASX:NCM), the country’s largest gold miner, is poised to be acquired by Newmont in a US$19 billion all-paper deal. The company’s transition away from independence is marked by a lacklustre performance, as it reported a 10.8% decline in annual profits on Friday. In what serves as its final financial report, Newcrest’s directors attributed

Furniture retail giant Nick Scali (ASX:NCK) has exceeded market expectations by achieving a remarkable 26.1% increase in net profit for the full fiscal year, reaching a total of $101.1 million. This success has been attributed to the company’s enhanced delivery services to customers and the strategic inclusion of the Plush-Think Sofas business, both of which

Tapestry, the US-based parent company of lifestyle brands Coach and Kate Spade, is set to acquire the parent company of Versace and Michael Kors, Capri, in a momentous US$8.5 billion takeover, giving rise to a new global fashion behemoth poised to challenge European fashion giants. In response to the acquisition announcement, Capri’s shares experienced a

Chinese e-commerce giant Alibaba has unveiled an unexpected surge of 14 percent in year-on-year quarterly sales, defying recent economic challenges and deflationary pressures. As a pivotal player in China’s expansive digital economy and the operator of a prominent online shopping platform, Alibaba’s performance has come to symbolise the pulse of domestic consumption, which has shown

The Dow Jones Industrial Average edged higher Thursday, after the July consumer prices gained 3.2 per cent on an annual basis, less than the 3.3 per cent consensus from economists polled by Dow Jones. On a month-to-month basis, inflation increased 0.2 per cent, in-line with estimates. The report also said real average weekly earnings were

The ASX experienced an increase in value by the end of the trading day, driven by rises in Australian energy stocks. This was primarily due to gains in US oil and European gas prices. These gains managed to offset losses in the technology sector, leading to an overall positive outcome for the sharemarket by the