A big day for the ASX Ltd (ASX:ASX) , the company that controls the country’s main stock and futures markets. A newish CEO, board changes, a log of projects dropped (at a multi-million-dollar cost), new profit and dividend targets, a first ever bond raising, and a promise to give the market an improved, working trading […]
ASX ready to make its next move Read More »
Australia’s Reserve Bank lifted the cash rate to an 11-year high of 4.1% at its June policy meeting on Tuesday and warned further rises might be needed if inflation didn’t start falling convincingly. The outcome of Tuesday’s policy meeting was not expected but neither was it a foregone conclusion. Futures markets had forecast a 68%
RBA remains resolute and aggressive with rates Read More »
At the closing bell, the S&P/ASX 200 was 1.2 per cent lower at 7,144.50, after the Reserve Bank’s decision to lift the cash rate by 0.25 per cent. Ten out of the 11 sectors were in the red at market close, with consumer discretionary and financials recording losses over 1 per cent. Wesfarmers (ASX:WES) shares
ASX closes 1.2% lower as RBA decides to lift cash rate 25 basis points Read More »
At noon, the S&P/ASX 200 is 0.7 per cent lower at 7,165.50 as traders await the Reserve Bank of Australia’s interest rate decision at 2.30pm. Consumer discretionary, staples, and financials sectors reported losses. Wesfarmers (ASX:WES) shares have fallen 1.2 per cent. Harvey Norman (ASX:HVN) have dropped 2.5 per cent. Baby Bunting (ASX:BBN) have tumbled 20.5
ASX 0.7% lower as investors await RBA’s interest rate decision Read More »
Sigma Healthcare (ASX:SIG) has been awarded a supply contract with Chemist Warehouse. CEO Vikesh Ramsunder commented: “The contract allows us to leverage our highly automated distribution centres and latent spare capacity after multiple years of investment.” Shares are trading 21.26 per cent higher at 77 cents. Musgrave Minerals (ASX:MGV) is being taken over in an
Stocks of the Hour: Sigma Healthcare, Musgrave Minerals, Adavale Resources Read More »
The S&P 500 finished lower on Monday, erasing earlier gains that brought the benchmark index to trade at its highest level on an intraday basis in nine months. Whilst major debt and banking fears have dissipated, what comes next hinges on the Federal Reserve’s target for bringing down inflation. Despite recent moves, worries persist over
Markets react as investors focus on Fed’s target to bring down inflation Read More »
Oil prices rose almost 2% on Monday after the OPEC+ group extended its production cuts of 3.16 million barrels a day to the end of next year while the Saudis have also added an extra cut of a million barrels a day to the size of the reduction. The move by the Saudis to drive
Saudis keep using OPEC+ to do their bidding Read More »
Contrary news in the boardrooms of of Myer (ASX:MYR) and Elders (ASX:ELD) on Monday, with one unexpectedly losing and the other surprisingly retaining its CEO . ………… Department store chain Myer (ASX:MYR) told the ASX on Monday that they would be looking for a replacement for current CEO John King, who has said he plans
Corporate Chatter: MYR, ELD Read More »
Evolution Mining (ASX:EVN) has significantly expanded the size of the resource at the Ernest Henry gold and copper mine in North Queensland after more work on exploration in and around the mine it bought from Glencore for $1 billion in early 2022. Evolution said the Board had approved the Ernest Henry Mine Extension Project to
Ernest Henry continues its evolution into a major find Read More »
At the closing bell, the S&P/ASX 200 was 1.00 per cent higher at 7,216.30. The increase was driven by the mining and consumer discretionary sectors, which offset losses in the tech stocks. The major mining companies experienced gains due to higher iron ore prices. Fortescue (ASX:FMG) rose 3.6% to $20.40, BHP (ASX:BHP) increased by 1.7%
Miners surge due to high iron ore prices: ASX closes 1% higher Read More »
