LOGIN JOIN SHARECAFE SIGN UP FOR OUR NEWSLETTER ADVERTISE
share cafe logo  
 
Glenn Dyer
Rinehart Launches Takeover Play For Atlas Iron
Added On - 6/19/2018 2:17:38 AM
Gina Rinehart's Hancock Prospecting has made a 4.2 cents a share cash offer for Atlas Iron - news that saw the company's shares jump 22.2% to 4.4 cents each as punters speculated that either Fortescue Metals would jump in with a higher offer, or Mineral Resources would lift the terms of its all paper, 3.2 cents a share offer.
South32 In All-Cash Bid For Arizona Miner
Added On - 6/19/2018 2:17:31 AM
South32 has revealed a $1.75 billion deal, which would have normally seen the company's shares sold down and all sorts of moaning from analysts and big shareholders.
Virgin Money Agrees To CYBG Takeover
Added On - 6/19/2018 2:17:19 AM
The de-Australianisation of UK challenger banking group, CYBG will continue with the news that Virgin Money has agreed to be taken over in a $US1.7 billion all paper deal.
Diary: OPEC, China-US Trade, BoE Meets
Added On - 6/18/2018 1:46:38 AM
Oil and US-China trade will be in the spotlight this week for global markets. OPEC and Russia hold a two-day meeting starting Friday to discuss whether to maintain supply cuts via a production cap that has supported global prices for more than a year.
ASX Set To Cool After Best Day Of 2018
Added On - 6/18/2018 1:42:48 AM
The ASX will start on a flat note this morning after a weak ending to offshore trading on Friday - hours after the strongest day's trading in Australia for 11 months.
Commodities In Reverse As Fed Hike Bolsters USD
Added On - 6/18/2018 1:42:38 AM
The stronger US dollar hit commodity prices last week, helping drive oil prices lower as well as the prices of gold and other metals plus agricultural commodities.
What To Expect From Telstra's Investor Day
Added On - 6/18/2018 1:42:28 AM
Telstra has a moment of truth this Wednesday with its 2018 investor day. The shares had their best week in a month last week, jumping 6.1% to end on $2.94 on the expectation of significant cost cuts to be announced.
Oil Prepares For OPEC Shake-Up
Added On - 6/18/2018 1:41:37 AM
Oil futures dropped sharply on Friday, ending the week lower, with Brent crude falling to more-than-six-week low on expectations OPEC and its allies (mostly Russia) will agree late this week to boost output by cutting the cap on daily production.
Sirtex Board Backs Chinese Bidder
Added On - 6/15/2018 8:49:12 AM
Sirtex Medical has embraced a higher offer from a Chinese suitor, rejecting the lower bid from its long time American admirer.
BHP Ticks Off South Flank Iron Ore Expansion
Added On - 6/15/2018 8:49:08 AM
BHP has given the greenlight to the expansion of an existing iron ore mine in the Pilbara - the second project from a big miner in the region in the past month or so.
Mixed Bag From China Data Drop
Added On - 6/15/2018 8:49:04 AM
Mixed news yesterday from China's last batch of major economic data for May even though crude steel production hit an all-time high in the month.
Mineral Deposits Reject Higher Takeover Bid
Added On - 6/15/2018 2:43:22 AM
Mineral sands producer Mineral Deposits has told bidder, Eramet, the French mining group, to go away despite a higher offer price.
Port Stoush Sinks Atlas Iron
Added On - 6/15/2018 2:07:22 AM
Atlas Iron shares took a whacking yesterday after the Western Australian government indicated potential buyers of the junior miner may not be able to develop valuable export infrastructure in Port hedland in the Pilbara.
Comcast In Huge $65 Billion All-Cash Bid For Fox
Added On - 6/15/2018 2:07:18 AM
US cable, TV and film giant, Comcast (a bigger version of 21st Century Fox) lobbed its expected all cash bid for Fox at the Murdoch company, but added $US5 billion to it to bring it up to a massive $US65 billion, on top of the $US31 billion Comcast wants to throw at Fox's 39% UK based pay TV business, Sky plc.
Jobs Data Marks Time As Fewer People Seek Work
Added On - 6/15/2018 2:07:13 AM
Australia's labour market marked time in May as the big surge in employment in 2017 continued to fade. Seasonally adjusted the unemployment rate fell to 5.4% in May from 5.6% in April, thanks to workers leaving the pool of people looking for work.
Confident Fed Raises Rates, Signals Two More Hikes In 2018
Added On - 6/14/2018 3:32:22 AM
America faces a possible two more rate rises in 2018 after the US Federal Reserve on Wednesday raised its benchmark federal-funds rate by 0.25% to 2%.
Canberra Hurdles Ahead As APA Soars On CKI Bid
Added On - 6/14/2018 2:18:04 AM
Amid all the talk of foreign influence in Australia (read Chinese for foreign) a multi-billion dollar bid for the country's biggest pipeline infrastructure group will yet again test the bona fides of the Turnbull government (and the ALP) on the question of investment by Chinese related companies in sensitive areas.
RBA, Fed Take Different Rate Path
Added On - 6/14/2018 2:17:37 AM
The chance of a rate rise just pushed out even further - possibly into 2020 as the AMP's Shane Oliver has already forecast after comments yesterday from the Reserve Bank Governor, Phil Lowe and the latest economic forecast from the National Australia Bank are any guide.
AT&T-Time Warner Deal Could Unleash M&A
Added On - 6/13/2018 11:44:42 AM
The long-awaited legal green light for the $US85 billion takeover by AT&T of Time Warner has finally arrived and subject to any appeal, America could now be in for an orgy of multi-billion dollar bids and deals.
Debt Fears But Global Fund Managers Still Bullish
Added On - 6/14/2018 3:44:38 AM
Global fund managers are getting more worried about corporate debt, but despite that they still like shares - sort of.
Business Conditions Cool From Historic High
Added On - 6/13/2018 2:53:39 AM
More good news on the economy from the latest business conditions and confidence survey from the National Australia Bank, even if there was a sign of a cooling.
GCS, SRG Outline Case For Mining Services Merger
Added On - 6/13/2018 2:53:29 AM
The conflicting fortunes of the mining and construction sectors was underlined yesterday in two announcements - the first was a big merger proposal that would see two small contractors unite, the second was bad news from Ausdrill that saw the shares lose more than a quarter of their value in the space of an hour or so.
Ausdrill Craters On Lithium Contract Update
Added On - 6/13/2018 2:53:22 AM
Shares in mining services group, Ausdrill plunged yesterday, wiping more than a quarter of their value at one stage after the company revealed doubt about the value of two key contracts.
Caltex Pumps, Wesfarmers Ends UK Misadventure
Added On - 6/13/2018 2:53:12 AM
While rising wholesale oil and petrol prices will help Caltex Australia boost first-half earnings by up to 7%, Wesfarmers buried its UK hardware adventure with news of another round of write down and losses of more than $400 million.
ASX Rides Global Rebound
Added On - 6/12/2018 1:03:17 AM
Sharemarket boomlet back on? US shares were up 1.6% last week, Japanese shares jumped 2.4% while Chinese shares edged up 0.2%. And the Australian market saw a solid gain of 0.9% with resource shares leading the way.
Diary: Fed Meeting, Oz Jobs, G7 Fallout
Added On - 6/12/2018 1:03:06 AM
A summit, three meetings of the world's most powerful central banks, some key data, especially Australian jobs figures for May and more on the trade war with China - yet another big week for the global economy to contend with.
Big Names Bumped From Key Indices
Added On - 6/12/2018 1:02:54 AM
The continuing woes of Retail Food Group, Myer and AMP has seen them dropped from key market indices because of the slide in their share market value in the past quarter.
China Inflation Ticks Higher In May
Added On - 6/12/2018 1:02:47 AM
A surge in China's trade and moderate inflation data has given extra evidence that the country's economy was solid in May, underlining the readings from the two start of the month manufacturing surveys.
China's LNG, Iron Ore Imports Jump In May
Added On - 6/12/2018 1:02:40 AM
Turning to imports and it was good news for Australia. China imported higher volumes of iron ore, copper and LNG for example, but not coal.
Fortescue Rescues Atlas Iron From MinRes Bid
Added On - 6/8/2018 2:27:59 AM
Andrew 'Twiggy' Forrest and his 33% owned Fortescue Metals Group have ridden to the aid of iron ore tiddler (no, basket case) Atlas Iron to defend it from an interloper in the share of Mineral resources which has made an all share offer valuing Atlas at around 3.2 cents, or around $300 million.
Godfreys Warns On Cash Squeeze
Added On - 6/8/2018 2:27:53 AM
Retailer Godfreys has warned of a looming serious cash flow squeeze early next month as a takeover for the struggling vacuum cleaner group moves towards completion.
Cautious Wesfarmers Pours Cold Water On Acquisitions
Added On - 6/8/2018 2:27:47 AM
No, no, no no more takeovers for Wesfarmers. The very clear message at yesterday's investor day briefing from CEO, Rob Scott couldn't have been any clearer.
Contrasting Fortunes For Xero, AMP
Added On - 6/8/2018 2:27:40 AM
An all time high for Xero, the accounting software group, and an all time low for AMP yesterday.
Weak Consumers Still A Worry For Investors
Added On - 6/8/2018 2:27:14 AM
There's a timely warning for investors, especially those interest in retail, from the March National Accounts and GDP figures - its a simple one - tougher times lie ahead, as consumers feel the continuing of a weakened outlook and finances.
Local Streamer Stan Tops 1 Million Subscribers
Added On - 6/7/2018 1:30:05 AM
It was a jolly odd way to reveal a significant milestone for Stan, the streaming video joint venture between Fairfax Media and Nine Entertainment.
UK Clears Battleground For Sky-Comcast Battle
Added On - 6/7/2018 1:30:01 AM
Now for the first round in the Murdoch family's big media battle of 2018 - its reach for control of its 39% owned UK-based satellite Pay TV business, Sky, which will see it up against the US group Comcast, which also wants to crash the $US66 billion Fox deal with Disney.
Metcash Wields The Axe
Added On - 6/7/2018 1:29:56 AM
Supermarkets, liquor and hardware group, Metcash will report a big blob of red ink for its 2017-18 financial year later this month after taking an accounting axe to its asset base, lopping $352 million from the value of its supermarkets and convenience store business. The news was released to the markets before trading which saw Metcash shares lose 2.1% to $2.70.
Oz GDP Heats Up But Households Still Cool
Added On - 6/7/2018 1:29:52 AM
Australia's economy expanded 1.0% in the March quarter (The fastest rate in a year) and 3.1% in the year to March thanks mostly to higher corporate profits, rising mining production and exports (especially of LNG) and a solid rise in non-mining investment.
Media Reports Sink Kogan, Mortgage Choice
Added On - 6/6/2018 2:54:01 AM
Shares in online retailer Kogan and Mortgage Choice took a hammering yesterday on the ASX from worried investors.
More Red Ink At Retail Food Group
Added On - 6/6/2018 2:53:45 AM
It's a common story. A new CEO at a troubled company, so suddenly there a bit of 'reality' about the finances and performance - and hey presto - red ink or more of it.
GUD Holdings Revs Up On Auto Expansion
Added On - 6/6/2018 2:53:38 AM
Shares in Sydney-based GUD Holdings hit an all-time high yesterday after it revealed a continuation of its move to go has deeper into the car parts business with a $20 million acquisition of Disc Brakes Australia Pty Ltd (or DBA).
On Hold RBA Remains On Replay
Added On - 6/6/2018 2:53:14 AM
No rate rise from the Reserve Bank yesterday for the 22nd month in a row - a new record ahead of the first quarter national accounts and GDP report later today (Wednesday).
Vicinity Flags Shopping Centre Sales
Added On - 6/5/2018 1:30:56 AM
Even though retail sales rose 0.4% in April which was a little stronger than expected, retail property investment trust Vicinity Centres Re is going ahead with plans to sell around $1 billion of its underperforming businesses.
CYBG Confirms Improved Virgin Money Offer
Added On - 6/5/2018 1:30:45 AM
CYBG, the mostly Australian owned UK bank, has lifted its offer for Virgin Money as expected from 1.6 billion pounds to 1.7 billion pounds ($A2.99 billion) on the eve of the expiration of a key deadline for the offer.
CBA Pays Record Price To End Austrac Pain
Added On - 6/5/2018 1:30:38 AM
The Commonwealth Bank now has the dubious distinction of having the two largest penalties ever imposed on an Australian company after it did a deal to end the embarrassing Austrac money laundering case by agreeing to a $700 million fine (and legal costs of $2.5 million) and making a new set of admissions over the breaches.
ASIC Warns On New Accounting Standards
Added On - 6/5/2018 1:30:18 AM
With most of corporate Australia about to rule off their 2017-18 full year or first half (for calendar year balancing companies) on June 30, ASIC has published its annual areas it will be concentrating on in the flood of results expected to start flowing from late July - at the top of the hit list will be the impact of a spate of major accounting changes on results.
ANZ, Telstra Drag ASX Lower
Added On - 6/4/2018 8:28:48 AM
Australian shares started June with a down day here on Friday, but should that will change today after a solid rebound in offshore markets.
Oil Rally Runs Out Of Steam
Added On - 6/4/2018 8:28:44 AM
OPEC speculation, rising production and transport bottlenecks are combining to put a lid on US oil prices.
Geopolitics Keeps Markets On Edge
Added On - 6/4/2018 8:25:19 AM
Global financial markets start the week with many of the headaches of the past few weeks having been removed on Friday - all that is except the US trade war with China, the EU, Canada and Mexico.
Gold Trims Gains On Stronger USD
Added On - 6/4/2018 8:25:09 AM
Gold futures fell back under $US1,300 an ounce on Friday, as the solid US employment data for May and settlement of political issues in Spain and Italy (and the move for North Korea and the US to continue the June 12 leaders meeting) pushed the greenback higher and crimped some commodity prices.
May Trade Stirs Speculation On Media Mergers
Added On - 6/4/2018 8:24:58 AM
Are the dance partners in Australia's silliest contest - media merging - starting to sort themselves out or is it really everyone still treading water furiously and hoping? Stockmarket trading in May raised a couple of eye-opening - price moves, including on the last day.
Diary: RBA Meets, Oz GDP, Retail Sales
Added On - 6/4/2018 8:24:47 AM
A big week for the Australian economy lies ahead with the monthly Reserve Bank board meeting, current account, business profits and wages, government finance details and the March quarter GDP numbers, as well as retail sales and trade data for April.
Wall St Ends Solid May On A Sour Note
Added On - 6/1/2018 7:45:54 AM
Despite Thursday's last day of May fall, the month was still positive for US markets.
ASX Ekes Out A Gain In May As Telstra Weighs
Added On - 6/1/2018 7:45:48 AM
For investors of all types, May was not a month to boast about. The ASX 200 added 0.5% on Thursday to end the month at 6011.9. That was a loss of around half a per cent.
Thorn Group Sneaks Out Soft Result
Added On - 6/1/2018 7:45:45 AM
Thorn Group snuck out its 2017-18 result just after 7pm on Wednesday, thereby making sure it received scant publicity in yesterday morning's papers, or online.
Santos Unveils $400m Arcadia Gas Spend
Added On - 6/1/2018 7:45:42 AM
A week after Santos rejected that $A14.5 billion foreign private equity takeover bid, it has revealed plans to invest more than $400 million in its Arcadia gas development in Queensland's Bowen Basin to boost guaranteed gas supplies for its Gladstone LNG export project.
IMF Holds China GDP Forecast
Added On - 5/31/2018 1:17:24 AM
The International Monetary Fund (IMF) has maintained its 2018 forecast for China's economic growth at 6.6% in its latest assessment of the world's second-biggest economy.
South32 Swoops On Eagle Downs Coal Project
Added On - 5/31/2018 1:08:58 AM
Still in coal and South32 is confident its $US133 million ($A176 million) pick up of a 50% stake in Queensland's Eagle Downs coking coal project will not be dogged by the costly port and electricity contracts that have already cost the existing owners tens of millions and look set to continue plaguing the project.
Yancoal Pays Down Debt Pile
Added On - 5/31/2018 1:08:51 AM
In the wake of the $US2.65 billion purchase of a stake in the NSW coal assets of Rio Tinto last year, the China-controlled Yancoal Australia has hinted that it is looking at measures to improve the liquidity of its shares.
ANZ Offloads Kiwi Insurance Arm
Added On - 5/31/2018 1:08:44 AM
The ANZ's success in raising more than $640 million from another asset sale had no impact on its share price yesterday as investors continued to sell it and other financial stocks in the wake of the big offshore sell-off on Tuesday in Europe and the US.
Approvals Dip Masks Solid Construction Pipeline
Added On - 5/31/2018 1:08:38 AM
The dwelling construction pipeline remains solid, especially for private homes. That's despite what looks like a nasty 5% drop (seasonally adjusted) in total home building approvals in April.
Italy & Spain Spark Fresh Euro Fears
Added On - 5/30/2018 8:54:04 AM
The ASX is heading for a 60 point plus fall this morning after a wave of selling in shares, bonds and commodities swept markets lower on Tuesday as uncertainty about events in Italy and Spain drove investors to sell.
Weather Claims Whack Tower Insurance
Added On - 5/30/2018 1:39:21 AM
NZ-based insurer, Tower has reported a loss after tax of $NZ11.6 million for the six months to March 31, compared to a loss of $8.2 million for the six months ended 31 March 2017.
Galaxy Resources Jumps On Acreage Sale
Added On - 5/30/2018 1:38:55 AM
Lithium miner, Galaxy Resources surprised yesterday by selling off some of its South American acreage, a move the market loved, sending the shares up 18% at one stage in trading before they settled back to close the day 14.3% higher at $3.42.
CYBG To Up Its Bid For Virgin Money
Added On - 5/30/2018 1:38:48 AM
UK bank CYBG (which is substantially Australian owned and listed on the ASX and the London Exchange) looks like it will have to lift its takeover offer for rival bank Virgin Money after a slump in its stock slashed the value of its all-share proposal.
Why Buybacks Are Booming On Wall Street
Added On - 5/30/2018 1:38:37 AM
More evidence from the US that companies do not spend tax cuts on paying staff more or boosting jobs. They use the cash from the Trump tax cuts and booming profits to buyback shares at an increasing rate and boost dividends.
Metcash Tanks, Blackstone Bids For Investa Office Fund
Added On - 5/29/2018 2:13:42 AM
Securities in property trust Investa Office Fund jumped more than 11% yesterday after it received a $3 billion takeover bid from funds managed or advised by Blackstone Singapore. Meanwhile, investors took the long handle to shares in independent supermarkets group, Metcash yesterday after it revealed the loss of a major customer in South Australia.
'Diminished' Telstra Derated
Added On - 5/29/2018 2:13:35 AM
Credit rating group, S&P Global dropped Telstra's credit rating, saying the country's top telecommunications company has a "diminished" role in the industry and faces difficulty in executing a plan to move from telco to 'techco' (a technology-driven company).
ALS Ups Dividend On Solid Result
Added On - 5/29/2018 2:10:33 AM
Brisbane-based testing group, ALS Ltd has lifted final dividend on top of a higher interim after reporting an improved underlying performance for 2017-18.
APN Outdoor Jumps On Earnings Update
Added On - 5/29/2018 2:10:26 AM
Outdoor advertising company APN Outdoor Group's shares surged more than 8% yesterday at one stage yesterday after it said its full-year 2018 earnings before interest, tax, depreciation and amortisation (EBITDA) guidance would be between $92 million and $96 million.
Fortescue Approves New Pilbara Mine
Added On - 5/29/2018 2:10:19 AM
Fortescue Metals has moved to try and boost the quality (and the returns) on its WA iron ore exports to China by approving the development of a $US1.28 billion ($1.7 billion) mine and rail project in Western Australia.
News Shorts: Sirtex Battles, iSelect In Play, RWC Relists
Added On - 5/29/2018 2:09:57 AM
Are Sirtex Medical and its US suitor, Varian Medical Systems heading for a protracted court date? The question arose after the news yesterday that the US group is now trying to get a canceled Sirtex shareholders meeting back on the road so it consider the American company's $28 a share offer.
Diary: US Jobs, Oz Building, Buffett Lunch
Added On - 5/28/2018 2:13:40 AM
The coming week will see the usual end of month/start of month data dump for global markets to digest, led by US May jobs and wages data on Friday, and the start of the run up to Australia's March quarter GDP figures next week.
Iron Ore Drops, Gold Recovers Ground
Added On - 5/28/2018 2:07:47 AM
The local market will open weaker today after a fall in the ASX futures market on Friday night and one factor investors will be watching will be a sharp fall Friday and last week in Chinese iron ore prices, the most important commodity price for Australian investors.
How Did US Earnings Season Fare?
Added On - 5/28/2018 2:07:31 AM
For yet another quarter it sees solid earnings beats (helped this time by the continuing benefits of the Trump tax cuts), have no lasting impact on share prices for US companies reporting for the three months to March which basically ends this week.
Saudi-Russia Shift Wrong-Foots Oil Market
Added On - 5/28/2018 2:07:16 AM
Oil prices fell sharply on Friday after OPEC and Russia indicated they may raise output this year to offset the impact of rising prices. That saw oil prices suffer their biggest fall for six weeks.
Global Markets Weaken Into US Holiday Break
Added On - 5/28/2018 2:06:31 AM
Sharemarkets will trade blind today, tonight and tomorrow with America on its three day Memorial Day break, meaning investors will not get a real lead as to sentiment until Tuesday night, Wednesday morning.
Digital Growth Spins Aristocrat Higher
Added On - 5/25/2018 7:09:45 AM
Pokie machine and gaming group, Aristocrat Leisure has boosted interim dividend 35% to 19 cents has share from 14 cents a share a year ago after reporting a solid performance for the six months to March 31.
Shareholders Seal Westfield Takeover
Added On - 5/25/2018 7:09:27 AM
So it's good-bye to Westfield Corporation as an independent Australian-controlled company after its investors yesterday gave the green light to the $32 billion takeover by the Paris-based Unibail-Rodamco shopping mall, owner - Europe's largest.
Reliance Joins Reece In Big Plumbing Expansion
Added On - 5/25/2018 7:09:18 AM
Brisbane-based Reliance Worldwide Corp (RWC), best known for its Sharkbite plumbing fittings, is looking to increase its size by around half via the $1.2 billion acquisition of UK group John Guest Holdings, which is a rival maker of push to connect fittings for plumbing and other uses.
 

SHARECAFE VIDEO


What the end of the credit cycle means for markets

More video   

RECENTLY ADDED TO SHARECAFE


 › South32 Expands Base Metal Options
 › Costs Rising For Gold Miners
 › Market At Midday On Tuesday
 › It Won't Get Any Better Than This
 › Overnight: Shifting Positions
 › FLT - Deutsche Bank rates the stock as Hold
 › RIO - Macquarie rates the stock as Outperform
 › S32 - Citi rates the stock as Neutral
 › The Future Of Retail Is Emerging Quickly
 › Rinehart Launches Takeover Play For Atlas Iron
 › South32 In All-Cash Bid For Arizona Miner
 › Virgin Money Agrees To CYBG Takeover
 › Tuesday At The Open
 › Marcus Today End Of Day Report
More ShareCafe   

GET THE SHARECAFE BREAKFAST BRIEFING


Delivered free to your inbox before the market opens each trading day. Sign up below +