Suncorp’s investment earnings soar
![](https://www.sharecafe.com.au/wp-content/uploads/2024/02/fnn-448534.jpg)
Like its rivals QBE and IAG, Suncorp, the owner of a slew of insurance brands led by AAMI, saw its December half-year results bolstered by a sharp rise in premiums and strong investment earnings.
Read MoreLike its rivals QBE and IAG, Suncorp, the owner of a slew of insurance brands led by AAMI, saw its December half-year results bolstered by a sharp rise in premiums and strong investment earnings.
Read MoreFor another year, Walmart, the world's biggest bricks-and-mortar retailer (though with growing online operations), has again bested Amazon in the vital US retailing sector.
Read MoreBrazilian miner Vale surprised investors with a fourth-quarter profit much weaker than expected, reporting a $US2.42 billion net profit, down from the $US3.72 billion reported in the final quarter of 2022—the second-biggest iron ore exporter globally after Rio Tinto.
Read MoreSo far this reporting season, major miners have revealed more than $US13 billion (nearly $A20 billion) in write-downs and impairments as global markets across 2023, and weak demand send prices and profits lower and upset projections for the rest of this year and 2025.
Read MoreSydney-based soft goods retailer, Adairs, has reduced its interim dividend as sales fell by 10%, and earnings dropped by 19% in what directors described as a “challenging macro-environment.”
Read MoreRestaurant Brands New Zealand (ASX:RBD) has announced that shareholders will not receive dividends for the fiscal year 2023, following a significant downturn in earnings.
Read MoreThis week, roughly 40 reports are expected from the ASX 200 and All Ordinaries indexes, with notable mentions including Harvey Norman, Coles, and Woodside Energy.
Read MoreIt's almost official: Warren Buffett has all but anointed (verbally) one of his two senior managers, Greg Abel, as his successor at the top of Berkshire Hathaway, likely Vice Chair (to replace the late Charlie Munger in that role).
Read MoreInflation rears its ugly head this week, just as investors, large and small, were wondering if their latest dose of AI FOMO (Fear of Missing out) over chip surge, Nvidia, had gotten a little overheated.
Read MoreWith the Lunar New Year break over, the pain continues for China, despite the surprise rate cut last week and a solid 2.8% to 4.1% rise in the country’s stock markets.
Read MoreIn the week ahead, markets face a significant test, with a crucial inflation reading and the second estimate of US 4th quarter economic growth challenging the prevailing confidence in lower interest rates. Despite Wall Street's obsession with AI advancements and the soaring fortunes of companies like Nvidia, the looming prospect of rate cuts from the Fed remains a potent factor, ready to disrupt the market if data disappoints.
Read MoreAmidst the frenzy surrounding Nvidia's meteoric rise, questions arise about its impact on commodity markets. Investor attention diverted from metals and softs, leaving them vulnerable to various economic factors, including American inflation data, weak sentiment, US bond yields, and the trajectory of the US dollar.
Read MoreWarren Buffett is correct in advising investors to disregard Berkshire Hathaway's statutory profit figures, as they are distorted by accounting rules mandating the inclusion of unrealized gains and losses. However, recent figures from the December quarter and full 2023 demonstrate otherwise.
Read MoreAustralian-based African gold miner Perseus (ASX:PRU) demonstrated significant growth amidst the surge in gold prices towards the end of 2023. The company reported a 21% rise in net profit for the six months to December, riding on a 10% increase in revenue to $US489 million (more than $A730 million).
Read MoreWith the completion of the Newcrest takeover, Newmont (ASX:NEM), the world's leading gold producer, is set to divest seven mines and two projects, aiming to generate $US2 billion ($3.05 billion) in cash.
Read MoreJapan's stock market has climbed past its all-time closing high, surpassing the record level struck during the country’s late-1980s asset bubble after a 34-year wait. The Nikkei share average rose about 2% to close at a record 39,098.68 points, above the previous intraday high of 38,957.44 points touched on the final trading day of 1989. On that day, the benchmark index closed at 38,915.87.
Read MoreFortescue Group (ASX:FMG) has joined the December half-year iron ore bonanza already shared by Rio Tinto, BHP, Mount Gibson, and Mineral Resources.
Read MoreDespite a 71% slump in its cash margin in the six months to December, Pilbara Minerals (ASX:PLS) maintained a hold on its cash reserves, which ended the half at just over $2.144 billion, down just 4% from a year earlier when $2.22 billion was on hand.
Read MoreAs expected, the double-play squeeze on nickel and lithium in the December half took a toll on IGO’s (ASX:IGO) interim result.
Read MorePerth-based mining giant Mineral Resources (ASX:MIN) unveiled its disappointing financial performance for the December half-year in a late Wednesday evening release, catching markets off-guard after hours. The company reported a substantial 28% decline in underlying EBITDA to $674.9 million, coupled with an alarming 83% reduction in the final dividend, slashed to 20 cents per share from $1.20 per share in the same period in 2022.
Read MoreShares in Nvidia surged nearly 8% in the minutes after the AI chip giant released better-than-expected fourth-quarter figures and forecasted a stronger-than-expected March quarter. The post-close surge came after the shares lost 2.8% in normal trading ahead of the release of the results on fears that the company’s performance would not match the hype.
Read MoreCSR (ASX:CSR) has confirmed that it has received a $9 per share bid approach from French building products giant Saint-Gobain.
Read MoreBy the tiniest of margins, Australian wages grew faster than inflation in the three months to December, but it would not have happened had it not been for revisions to previous estimates in the Wage Price Index.
Read MoreFederal Reserve officials have given U.S. investors, analysts, and politicians, heading for November’s elections, something to think about by making it clear they remain “highly attentive” to inflation risks and are therefore wary of cutting interest rates too quickly.
Read MoreGlencore, a top five global miner, emerged as the biggest victim of the 2023 collapse in coal prices, experiencing a 50% plus slump in earnings and slashing dividends. The company seeks to lower and control debt, aiming to ironically buy more coal amidst the price slide.
Read MoreFor the second time in four months, HSBC has revealed its pessimism regarding the future direction of the Chinese economy and the country’s severe property crisis with a massive write-down on a key investment, this time in a major bank.
Read MoreWoolworths (ASX:WOW) CEO, Brad Banducci, is departing just days after a blow-up in an interview with ABC TV program Four Corners, which examined grocery pricing. However, his departure is more likely a result of the massive write-downs the retailer revealed for the first half of 2023-24.
Read MoreThe National Australia Bank (ASX:NAB) is bracing for a less profitable departure for its CEO, Ross McEwan, as the bank experiences an unexpected 17% decline in cash earnings during the three months leading up to December.
Read MoreLa Niña and its heavy rainfall transitioned to a brief El Niño in the latter half of 2023. However, since December, storms, cyclones, and heavy showers across much of the east and north of the country suggest a potential return to La Niña.
Read MoreCoronado Coal has joined the ranks of Whitehaven, Yancoal, and New Hope in feeling the pain from the slump in global coal prices. The company, which operates mines in Queensland and in the US states of Virginia and West Virginia, said Tuesday that revenue slid 19.1% to $US2.9 billion in the 12 months to December.
Read MoreChina's central bank has blinked and will cut the key official interest rate, which influences mortgage costs, in an attempt to provide assistance to the millions of mortgage holders trapped in the black hole known as the country's property sector.
Read MoreSeemingly out of the blue, a major US financial merger deal emerges, untouched by crisis or regulatory bailout.
Read MoreAnsell (ASX:ANN), like other major industrial players this interim reporting season, has followed suit in 'narrowing' its earnings guidance without explicitly signaling a potential reduction in results by June 30.
Read MoreANZ (ASX:ANZ) has been allowed to purchase Suncorp’s predominantly Queensland-based bank for $4.9 billion after the Australian Competition Tribunal overturned the ACCC’s block on the deal due to competition concerns.
Read MoreBHP (ASX:BHP) has slashed its interim dividend after net earnings plummeted 86% to just $US927 million.
Read MoreAs expected, the late burst in gold prices in the final quarter of 2023 helped mid-tier gold group Ramelius Resources (ASX:RMS) achieve a 42% jump in interim profit.
Read MoreSonic Healthcare (ASX:SHL) has increased its dividend despite significant declines in earnings during the first half of December, triggered by the easing of the Covid pandemic.
Read MoreCar components group, ARB Corporation (ASX:ARB), will pay shareholders a higher interim dividend despite only a slight revenue increase of 0.2% in the six months to December 31.
Read MoreChina’s balance of payments data for last year shows the stunning impact on its trade performance from the slowdown in demand for its exports, weak domestic demand for imports, and the loss of confidence foreign investors have in the country due to its increasingly aggressive policy positions on issues like security and spying.
Read MoreGPT Group (ASX:GPT) has found itself grappling with the ramifications of the downturn in commercial real estate. While this downturn has dealt a significant blow to the industry at large, GPT has managed to soften its losses to some extent, thanks to its substantial exposure in the retail sector.
Read More