ASX closes 0.5% lower: Iron ore prices fall
The Australian sharemarket extended losses on Wednesday, with the S&P/ASX 200 Index dropping 0.5% amid investor anxiety over the imminent US Federal Reserve interest rate decision.
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ASX down 0.69% near noon: Investors await May US CPI
At 11:30am, the S&P/ASX 200 is 0.69 per cent lower at 7,701.90, reflecting Wall Street's mixed performance where banking stocks weighed on the Dow Jones while the Nasdaq and S&P 500 were lifted by Apple's 7.3% surge.
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ASX drops 1.3%: Gold miners suffer
The sharemarket experienced a significant decline as anticipation grew for the US Federal Reserve to delay immediate rate cuts, compounded by political uncertainty stemming from far-right gains in European elections and concerns about the bloc's future.
Read MoreASX down 1.27% near noon following losses in Europe
At 11:30am, the S&P/ASX 200 is 1.27 per cent lower at 7,760.30, mirroring losses in Europe due to better-than-expected performance by far-right parties in weekend elections, and in anticipation of the US Federal Reserve's resistance to immediate rate cuts.
Read MoreUS markets hit new records ahead of Fed Policy meeting
Nvidia and the tech sector help the S&P 500 and Nasdaq close at new record highs as investors look to Wednesday’s Fed Policy meeting.
Read MoreASX up 0.18% near noon: Gains in iron ore, lithium, and coal
Australian shares opened with a 0.2% increase driven by gains in mining sectors like iron ore, lithium, and coal, although this was tempered by weaknesses in healthcare and technology. At 11:30am, the S&P/ASX 200 is 0.18 per cent higher at 7,835.70.
Read MoreUS markets trade sideways ahead of key payrolls data
Markets drifted sideways as investors remained on the sidelines ahead of the crucial May non-farm payrolls numbers due out Friday US time.
Read MoreASX closes 0.7% higher: Canada cuts rates
Australian shares rose on Thursday following a record-breaking session on Wall Street, fuelled by Canada’s central bank lowering its cash rate by 25 basis points to 4.75 per cent.
Read MoreASX up 0.83% near noon: Bank of Canada cuts rates
Australian shares opened 0.6% higher as US tech gains and the Bank of Canada's rate cut bolstered hopes for global rate reductions.
Read MoreNvidia surge pushes S&P 500 to new record
A surge in the Nvidia share price and weak labour market data pushed the broad S&P 500 index to a new record close.
Read MoreStealth Group acquires Force Technology International
Stealth Group Holdings (ASX: SGI), a prominent Australian distribution group, has announced its acquisition of Force Technology International Pty Ltd (Force), a leading distributor of consumer mobile accessory products in Australia. This strategic move underscores Stealth's commitment to expanding its market presence and enhancing shareholder value.
Read MoreUS markets trade modestly higher on jobs data
US stocks closed in the green as the latest jobs data, provided further evidence that the economy is losing momentum and keeping the door open to rate cuts.
Read MoreASX slides 0.3%: concerns loom over steel demand in China
On Tuesday, the Australian Securities Exchange (ASX) witnessed a downturn, predominantly influenced by a notable sell-off in mining and energy sectors, triggered by weakened commodity prices. The S&P/ASX 200 index slid by 0.3%, equivalent to 23.9 points, halting a two-day consecutive upward trend, while the broader All Ordinaries index also experienced a decline of 0.4%, settling at 7994.1 points. Among the eleven sectors on the ASX, nine ended the day in negative territory, with energy and materials sectors bearing the brunt of the losses.
Read MoreASX down 0.2% near noon: Healthcare is best performing sector
Aus shares began the session with minimal change, leveling off shortly after the market opened. This stagnation was attributed to a decline in commodity prices, which adversely affected mining firms, counterbalancing any positive momentum in the healthcare sector.
Read MoreSoft US manufacturing data raises activity concerns
Cyclical stocks and those leveraged to manufacturing activity came under pressure during the trading session following the release of soft manufacturing numbers which raised concerns about the strength of the underlying US economy.
Read MoreASX closes 0.77% higher: Aus shares on rate cut speculation
The Australian share market began June with strong gains, following a positive trend in US stocks driven by subdued inflation data, prompting confidence in potential future rate cuts by the Federal Reserve.
Read MoreASX rises 0.82% at near noon as it recovers from recent sell-offs
The Australian sharemarket has risen in June, continuing its recovery from recent sell-offs, with a 0.82 per cent rise at 11:30am following modest gains on Wall Street. This follows a 1 per cent jump on Friday, driven by traders unwinding earlier sell-offs prompted by concerns over inflation and potential Reserve Bank interest rate hikes.
Read MoreGuzman y Gomez to make ASX debut with $242.5 million IPO
Guzman y Gomez (GYG), the renowned fast-food chain, has revealed its plans to debut on the Australian Securities Exchange (ASX) in June, marking a significant milestone in the company's journey.
Read MoreUS markets jump higher as inflation fears ease
The Dow Jones jumped as investors breathed a sigh of relief as key inflation readings released on Friday came in mostly as expected with no negative surprises.
Read MoreBrookfield makes bold move to become Australia’s largest renewable energy owner
Brookfield, a Canadian investment giant, has set its sights on becoming the foremost player in Australia's renewable energy sector with a monumental $10 billion bid to acquire France’s Neoen.
Read MoreASX up 0.49% at near noon following three-day sell-off
At 11:30am, the S&P/ASX 200 is 0.49 per cent higher at 7,665.70, following a three-day sell-off, driven by broad buying spurred by slightly elevated April inflation data.
Read MoreUS markets overshadowed by Salesforce & Nvidia falls
US markets were overshadowed on Thursday by softer than expected results from Salesforce and a pull back in the Nvidia share price as the rally finally ran out of steam. Investors were also cautious ahead of the release tomorrow of key U.S. inflation data.
Read MoreASX closes 0.5% lower: Dip extends the markets reach to three-week low
The Australian stock market sustained its downward trajectory for the third consecutive session, witnessing a 0.5% decline as reflected by the S&P/ASX 200 index closing at 7628 points. This dip extended the market's reach to three-week lows, a downturn triggered by persistent apprehensions surrounding inflationary pressures.
Read MoreASX down 0.57% near noon: Best-performing sector is Industrials
Australian shares have declined, mirroring the weakness in New York amidst diminishing risk appetite due to concerns surrounding the trajectory of interest rates, with the S&P/ASX 200 down 0.57 per cent at 7,621.80 at 11:30am, marking a continuation of its three-week lows and a cumulative fall of over 2.5 per cent in the last five sessions. This downturn echoes the losses observed on Wall Street, where the Dow Jones decreased by 1.1 per cent, the S&P 500 by 0.7 per cent, and the Nasdaq by 0.6 per cent.
Read MoreAustralian beef exports to China resume following suspension
Agriculture Minister Murray Watt has confirmed that five major Australian beef exporters, previously suspended from exporting meat to China, can now resume their operations. The suspension, imposed amidst a trade war between the two nations, has been lifted by Beijing with immediate effect.
Read MoreRising treasury yields weigh heavily on US markets
Another solid performance from AI darling Nvidia was not enough as stocks were broadly lower on Wednesday with Treasury yields continuing to edge higher on the return of concerns around sticky inflation and Fed rate cut timing.
Read MoreNOVONIX completes independent engineering assessment of Riverside facility
NOVONIX (NASDAQ:NVX, ASX:NVX), a prominent figure in battery materials and technology, has reached a significant milestone with the completion of an independent engineering assessment of its Riverside production facility located in Chattanooga, Tennessee.
Read MoreConocoPhillips acquires Marathon Oil in $22.5 billion all-stock deal
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $22.5 billion, including debt, as consolidation continues to reshape the US oil sector.
Read MoreUpdate on BHP’s offer for Anglo American
BHP Group (ASX:BHP) disclosed a revised proposal for merging with Anglo American plc (Anglo American), and in response, the Board of Anglo American extended the offer deadline to the 29th of May 2024. BHP welcomed this extension as an opportunity to address concerns raised by Anglo American regarding its proposal. Since then, BHP has engaged extensively with Anglo American and its advisers to resolve these matters.
Read MoreASX drops 1.3%: Inflation unexpectedly rises in April
Australian shares slumped to a three-week low as the pace of inflation unexpectedly rose in April, diminishing investor expectations for an interest rate cut by the Reserve Bank this year.
Read MoreASX down 0.94% near noon: All sectors in the red
Australian shares fell to a three-week low, reflecting weakness in New York, as investors awaited local inflation data for clues on interest rates.
Read MorePowering Australia’s AI revolution
Australia finds itself at a pivotal juncture where the burgeoning demands of AI intersect with the nation's energy infrastructure. Data centres, often referred to as "AI factories," are at the heart of this convergence, exerting significant pressure on the national power grid.
Read MoreAlgeciras and Tangier struggle amidst global shipping disruptions
Upon entering the port of Algeciras at Spain's southernmost tip, the facility's busyness is unmistakable. Nearly all cranes at the port’s two container terminals are in operation, moving containers on and off ships. Alonso Luque, CEO of TTI Algeciras, notes that they’ve had to turn away many requests for extra cargo due to limited capacity. Similarly, executives at TC3 in Morocco's Tanger Med port face comparable challenges.
Read MoreCountdown to BHP-Anglo merger
BHP (ASX:BHP) and Anglo American have yet to agree on terms for their £39bn mining megamerger, raising the stakes as the deadline for negotiations looms on Wednesday.
Read MoreNvidia surge pushes Nasdaq to new record close
A seven per cent surge in the Nvidia share price pushed the Nasdaq index to a new record close above the 17,000 level for the first time ever, outweighing negative news from a disappointing Treasury auction which saw yields move higher.
Read MoreASX closes 0.28% lower: Tech, retail, and healthcare sectors fall
Aus shares dipped slightly, driven by declines in the tech, retail, and healthcare sectors, following a sideways trend as Wall Street was closed for Memorial Day.
Read MoreASX down 0.02% near noon: Australian retail trade rises by 0.1 per cent in April
Australian retail trade rose by 0.1 per cent in April, below the expected 0.2 per cent increase, following a 0.4 per cent decline in the previous month.
Read MoreStar Combo Pharma secures TGA approval for Gummy manufacturing
Star Combo Pharma (ASX:S66) has attained a notable achievement with the issuance of a manufacturing license by the Therapeutic Goods Administration (TGA) for the production of pastille products tailored for the Gummy market.
Read MoreSantana Minerals looks to fast-track Bendigo-Ophir gold project
Santana Minerals (ASX:SMI) CEO Damian Spring presents the Bendigo-Ophir gold project to the Environment Select Committee in NZ, highlighting its potential to significantly impact the national economy. Fast-tracking this project, recognized for its world-class mineral resources, could result in substantial economic gains for New Zealand.
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