Investors cheer as Lucapa Diamond shifts focus from Merlin project

Investors have given a big thumbs-up to the surprise news that Lucapa Diamond (ASX:LOM) has halted the feasibility study for its Merlin project in the Northern Territory. In a statement to the ASX, the company blamed what it called “unfavorable capital market and diamond price environments.” Instead, it said it would start small and try to build a mine while focusing on strengthening its financial strength.

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China continues to reduce holdings of US Treasury debt for six consecutive months

In September, China continued its six-month streak of cutting its holdings of US Treasury debt, according to data from the US Treasury. As America's second-largest foreign creditor, following Japan, China reduced its holdings of US Treasury securities to $778.1 billion, marking a $27.3 billion decrease from the previous month. This September figure represents the lowest level of China's holdings since June 2009 when it held $776.4 billion in US Treasury securities.

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This week: Central bank minutes, Origin Energy, and Black Friday sales

This week, we delve into the minutes from meetings held by two central banks earlier this month. Additionally, we keep a close eye on the crucial shareholder meeting for Origin Energy in Australia, where a massive bid from Canada's Brookfield and the US-based EIG hangs in the balance. AustralianSuper's opposition to the $20 billion offer adds an element of suspense to this event, set to take place on Thursday.

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