Commodities Surge Drowns Out Fed Chatter
Despite the US Federal Reserve telegraphing its intention to raise rates in 2022, for Australian markets the big news overnight Wednesday was the surge in commodity prices, led by iron ore.
Read MoreDespite the US Federal Reserve telegraphing its intention to raise rates in 2022, for Australian markets the big news overnight Wednesday was the surge in commodity prices, led by iron ore.
Read MoreThe Asian Development Bank has trimmed its 2021 economic growth forecast for developing Asia as the Covid pandemic continues to dominate the region’s outlook and throw up roadblocks to recovery.
Read MoreSecurities in AusNet and APA Group headed in different directions yesterday as investors reacted to the news that the latter’s near $10 billion cash offer was on hold for the time being.
Read MoreDid Tabcorp miss the bid for its betting businesses when it decided in July not to talk to a number of interested parties and instead put its Lotteries and Keno business on the block in a demerger deal?
Read MoreThe Hong Kong stockmarket was closed on Wednesday, which helped keep the pressure off struggling Chinese property group Evergrande Group ahead of what could be a decisive day today.
Read MoreWestpac has halted plans to sell its majority stake in Westpac PNG Limited and Westpac Fiji to ASX-listed Kina Securities and will retain it for the time being while it works out a future course of action.
Read MoreThe chairman of stricken Chinese property giant Evergrande told staff on Tuesday said the company is confident it will “walk out of its darkest moment” and deliver property projects as pledged.
Read MoreIGO has confirmed media reports that takeover talks with nickel miner Western Areas are moving closer towards a decision, while Mincor has struck nickel at its Hartley prospect in Western Australia.
Read MoreInfrastructure group APA has produced a rival, higher offer for utility AusNet valuing it at $10 billion, a day after the Canadian/US group Brookfield announced its $9.6 billion offer.
Read MoreOutdoor retailer Kathmandu and pharmacy group Sigma have both given early hints of the damage the lockdowns since June have done to some retailers, with both reporting weak sales and earnings.
Read MoreThe ASX is heading lower Tuesday after iron ore prices fell another 8% on Monday, but the way prices keeping tumbling, its clear the bottom is in sight.
Read MoreOn the face of it the bid for Australian power distributor AusNet Services is just another rather large deal, but in fact it allows two major Asian companies to make a graceful exit from Australia.
Read MoreA consortium led by toll road giant Transurban is buying full control of Sydney’s WestConnex road system for more than $11 billion after winning the NSW government’s auction of its 49% of the business.
Read MoreFive major banks have shown up Resources Minister Keith Pitt by organising the retrospective investment of $280 million into a huge wind farm and battery hub in north Queensland.
Read MoreWith markets on edge after yesterday’s bloodbath, Thursday’s Fed meeting, along with the statements and forecasts that follow in its wake, have suddenly taken on even more significance than usual.
Read MoreVery quietly, Venture Minerals – a small Tasmanian miner – has become the first casualty of the collapse in iron ore prices.
Read MoreOil weakened on Friday (although it was up for the week), copper, iron ore, gold and silver all fell sharply as worries about the health of the Chinese economy engulfed markets across the spectrum.
Read MoreAnother tough week for China and its stricken property group Evergrande with an $US80 million interest payment due to be paid and the company making it clear it has little chance of finding the money.
Read MoreA nasty selloff awaits ASX investors today after global markets slumped on Friday, driven by Covid concerns, the outlook for the US economy ahead of this week’s Fed meeting, and weak commodity prices.
Read MoreThe early fall meeting of the US Federal Reserve dominates global markets and policy thinking this week, along with the struggles by Chinese property giant Evergrande to survive its crushing $US304 billion debt burden.
Read MoreDespite China having spent the past year or more monstering Australia and Australian companies, the ties between both countries continue, especially in the strategically important areas of lithium mining and processing.
Read MoreWith the country’s economy already staggering from the impact of a multitude of unwanted problems, it is going to be a very nervous weekend in China as the stricken property giant Evergrande staggers towards a possible implosion.
Read MoreGlobal iron ore prices crashed for a 4th session in a row this week on Thursday as the restrictions on steelmaking continued to spread into different regions of China.
Read MoreIn a major surprise, US retail sales unexpectedly jumped 0.7% last month instead of following July with another big fall as economists had forecast.
Read MoreXi Jinping’s attack on business and cultural activities such as online gaming and ‘effeminate’ men on TV and film has spilled over into the once vibrant Macau casino business.
Read MoreCovid Delta continues to drain confidence around the world in the outlook for economic growth and earnings – but it hasn’t killed it stone dead as the original variant did in early 2020.
Read MoreFor the first time BHP has put some substantive flesh on the sales side of its multi-billion-dollar plunge into potash, reporting non-binding deals for up to 100% of future production from its Jansen project in Canada.
Read MoreTelstra is looking to slash another $500 million from its cost base over the next three years with its new T25 strategy, a stepped-up campaign to further drive revenue and earnings.
Read MoreWhile the continued lockdowns in much of Australia took their toll on the labour market in August, it was a different story across the Tasman, with the NZ economy growing strongly in the June quarter.
Read MoreMyer shares closed at their highest level since September 2019 after riding a 28% surge in online business to report a $51 million profit for FY2021, its best result in the past four years.
Read MoreWesfarmers seems to have won the hearts and minds of the board and major shareholders of Australian Pharmaceutical Industries (API) with a lift in its proposed offer price from $1.38 cash to $1.55 a share.
Read MoreShareholders of Milton Corporation will get a fully franked special dividend of 37 cents a share once the investment house’s proposed merger with Washington H. Soul Pattinson is finalised next week.
Read MoreCovid Delta hit Chinese economic activity hard right across the spectrum in August, according to the final data drop for the month from the National Bureau of Statistics on Wednesday.
Read MoreSome rare joy for struggling gold tiddler Horizon Minerals as its shares rose more than 4% after it slipped out an updated mineral resource estimate for one section of its Teal project in WA.
Read MoreCan there be life after Myanmar for Myanmar Metals when it gets rid of its mine in the benighted country, changes its name and departs? Management certainly hopes so but the market remains sceptical.
Read MoreUS consumer price inflation slowed a little in August as the prices of used cars slid, partially reversing the surge earlier in the year that helped boost the CPI to its highest level for more than a decade.
Read MoreMedia reports say Canada’s Teck Resources is exploring options for its future ownership of its coking (metallurgical) coal operations, the second largest export operation in the world after BHP.
Read MoreWas Tuesday’s sharp selloff in Brambles shares an accurate reflection of what looks to have been a weak update or simply an overreaction from a nervy set of investors?
Read MoreRBA Governor Philip Lowe has repeated his belief (shared by the NAB in its latest monthly business survey) that the Australian economy will see some gloom before boom.
Read MoreAs BHP moves towards a major revamp, it has revealed it is going to lose two directors and has asked a third who planned to retire to hang on for another year to help oversee the changes.
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