Latest Company News - Finance News Network
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Business conditions show improvement
March 12, 2024 05:47 - 1000 KB12 Mar 2024 - Business conditions improved slightly in February, yet confidence dipped, according to the latest NAB survey on the Australian economy.
Ramelius Resources unveils 10-year mining plan
March 12, 2024 05:46 - 1000 KB12 Mar 2024 - Ramelius Resources (ASX:RMS) recently unveiled a comprehensive 10-year mining plan for its flagship Mt Magnet operation in Western Australia.
Wet weather challenges persist for WA miners
March 12, 2024 05:44 - 1000 KB12 Mar 2024 - The latest victim of nature's fury is Capricorn Metals' (ASX:CMM) Karlawinda gold mine, nestled in the heart of the Pilbara.
Significant short squeeze activity in February
March 12, 2024 04:30 - 1000 KB12 Feb 2024 - Recent data analysis from the Australian Securities and Investments Commission (ASIC) sheds light on significant short squeeze activity that unfolded on the ASX in late February. Hedge funds made substantial adjustments to their positions, leading to the covering of nearly $1 billion worth of shorted shares and reshuffling their bets towards prominent ASX-listed companies.
China's copper crisis
March 12, 2024 02:15 - 1000 KB12 Mar 2024 - China's 18 top copper processors are convening tomorrow to address the burgeoning crisis in copper concentrate supplies, marking a pivotal moment for the world's largest copper processing industry. The sector, responsible for over half of global copper output in 2023, faces challenges sourcing materials amidst mining shortfalls and heightened competition from India.
Stocks of the Hour: Resource Mining Corporation, Castle Minerals, Aurum Resources
March 12, 2024 00:15 - 1 minute - 1000 KB12 Mar 2024 - A snapshot of the stocks on the move, featuring Resource Mining Corporation (ASX:RMI), Castle Minerals (ASX:CDT) and Aurum Resources (ASX:AUE).
Lake Resources pursues swift $20 Million
March 11, 2024 21:58 - 1000 KB12 Mar 2024 - Lake Resources (ASX:LKE) is seeking a rapid $20 million infusion just a week after announcing a second round of cost reductions to safeguard its prized Kachi lithium project in Argentina.
Pilbara revives spodumene auctions
March 11, 2024 21:52 - 1000 KB12 Mar 2024 - Pilbara Minerals (ASX:PLS) is poised to reinvigorate the market for spodumene concentrate as it gears up to resume its auctions early next week. The move comes as the company seeks to leverage price dynamics to stimulate demand in the lithium sector.
Iron ore plunge sends shockwaves through markets
March 11, 2024 20:44 - 1000 KB12 Mar 2024 - Monday marked a significant reversal for major banks following Friday’s surge, but the real concern for the local market emerged with a nearly 7% plummet in iron ore prices across Asia. This downturn triggered further declines in the shares of industry giants BHP, Rio Tinto, and Fortescue, compounding their losses from the previous week.
Iron ore prices plummet
March 11, 2024 05:12 - 1000 KB11 Mar 2024 - Iron ore prices have taken a nosedive, plummeting nearly 5 per cent and inching towards the $US110 a tonne threshold, as China's demand disappoints, leaving the market grappling with hefty inventories.
China's tough love stance on property sector crisis
March 11, 2024 04:38 - 1000 KB11 Mar 2024 - In yet another display of stern resolve, the Chinese government is doubling down on its stance towards the beleaguered property sector, signaling a no-nonsense approach to tackling its woes head-on.
Japan's stock market dips amid economic growth data evaluation
March 11, 2024 03:32 - 1000 KB11 Mar 2024 - Japan's stock market sold off steeply on Monday as investors assessed better economic growth data and concluded that it could see the end of the current super easy monetary policy stance from the Bank of Japan at its two meetings next week.
Crisis deepens for Panoramic Resources
March 11, 2024 00:34 - 1000 KB11 Mar 2024 - The prospects for Panoramic Resources (ASX:PAN) and its beleaguered Savannah nickel, copper, gold mine have taken a significant hit with the recent appointment of receivers, adding to the company's existing challenges following the earlier appointment of administrators.
Stocks of the Hour: TASK Group Holdings, Reach Resources, Archer Materials
March 11, 2024 00:20 - 1 minute - 1000 KB11 Mar 2024 - A snapshot of the stocks on the move, featuring TASK Group Holdings (ASX:TSK), Reach Resources (ASX:RR1 & RR1O) and Archer Materials (ASX:AXE).
China's iron ore imports surge
March 11, 2024 00:17 - 1000 KB11 Mar 2024 - China may have boosted iron ore imports to over 209 million tonnes for the first two months of this year. However, recent data confirms that weak demand from steel mills has led to a buildup of ore shipments at the country’s 45 ports.
China's Lunar New Year boosts consumer prices
March 10, 2024 20:38 - 1000 KB11 Mar 2024 - China can attribute the better-than-forecast seasonal rise in consumer price inflation in February to the Lunar New Year break. However, the holiday break, known for significant spending on food and travel, had no impact on the almost endemic deflation in producer prices, which continued to decline for yet another month in February.
Gold soars despite investor exodus from metal-backed ETFs
March 10, 2024 20:37 - 1000 KB11 Mar 2024 - Despite gold hitting a series of record highs last week, the precious metal is doing it without the support of most investors, as the outflow of metal from metal-backed Exchange Trading Funds (ETFs) continued in February.
Market sentiment shifts as Wall Street records worst weekly loss since October
March 10, 2024 20:33 - 1000 KB11 Mar 2024 - Well, I guess it pays to have a bit of perspective in markets at times when the momentum is all go, go, go and record-breaky. After what was a 'goldilocks' US jobs report for February — some good, some bad — US stocks retreated on Friday, closing out a volatile five sessions with the worst weekly loss since October.
Mixed signals in oil markets
March 10, 2024 20:32 - 1000 KB11 Mar 2024 - Oil prices stalled last week, despite a weaker US dollar and lower bonds rates and lot’s of bullish chat about rising demand.
US Fed eyes inflation fight
March 10, 2024 20:30 - 1000 KB11 Mar 2024 - This week, the focus of US markets shifts back to inflation, with investors anticipating potential rate cuts sooner rather than later. Last week, Wall Street saw a temporary halt as Federal Reserve Chair Jay Powell hinted at the possibility of rate cuts in the coming months.
Ramelius Resources eyes takeover target
March 08, 2024 02:28 - 1000 KB08 Mar 2024 - Ramelius Resources (ASX:RMS) appears to embrace the adage "a takeover a year keeps the wolves at bay," as evidenced by its latest development.
Stocks of the Hour: Magmatic Resources, Pointerra, OpenLearning
March 08, 2024 00:19 - 1 minute - 1000 KB08 Mar 2024 - A snapshot of the stocks on the move, featuring Magmatic Resources (ASX:MAG), Pointerra (ASX:3DP) and OpenLearning (ASX:OLL).
FMG Resources makes move into NSW copper-gold
March 07, 2024 23:21 - 1000 KB08 Mar 2024 - Twiggy Forrest's FMG Resources has made a significant move into the highly prospective copper-gold region of central western NSW with a placement and funding deal.
Banks navigate economic challenges
March 07, 2024 23:19 - 1000 KB08 Mar 2024 - Numerous financial commentators, both within and outside the markets, persist in warning about potential risks to Australia's banks from bad debts, particularly concerning home loans and commercial property.
China's commodity appetite
March 07, 2024 23:17 - 1000 KB08 Mar 2024 - Once again, China's appetite for major commodities clashes with the uneven health of the country's massive manufacturing sector.
ASX fined over compliance breaches
March 07, 2024 22:15 - 1000 KB07 Mar 2024 - It’s a poor state of affairs when a key market player in Australia - the ASX - cops a fine from the key market regulator - ASIC - for breaches of its own rules.
Virgin Money UK to be acquired by Nationwide Building Society
March 07, 2024 22:14 - 1000 KB08 Mar 2024 - Britain’s Nationwide Building Society has reached a "preliminary" agreement to buy Virgin Money UK PLC for £2.9 billion ($A5.57 billion) in a deal that would create the second-largest provider of mortgages and savings in the UK.
Europe poised for mid-year rate cut as Fed eyes inflation data
March 07, 2024 22:12 - 1000 KB08 Mar 2024 - In a dynamic week of financial maneuvering, Europe appears to be positioning itself for a mid-year rate cut, while across the Atlantic, all eyes are on the United States Federal Reserve and its evaluation of inflation data. Despite this anticipation, Chair Jay Powell has reiterated the Fed's cautious approach, emphasizing the need for more comprehensive inflation metrics before any significant monetary policy decisions are made.
China's foreign trade surges in early 2024
March 07, 2024 22:00 - 1000 KB07 Mar 2024 - China's foreign trade saw a solid improvement in January and February with growth in exports and imports stronger than expected when compared to the same two months period of 2023.
Stocks of the Hour: Dotz Nano, Immuron, Avecho Biotechnology
March 07, 2024 00:30 - 1 minute - 1000 KB07 Mar 2024 - A snapshot of the stocks on the move, featuring Dotz Nano (ASX:DTZ, OTC:DTZNY), Immuron (ASX:IMC; NASDAQ:IMRN) and Avecho Biotechnology (ASX:AVE).
SolGold's $US2.3 billion investment
March 06, 2024 23:58 - 1000 KB07 Mar 2024 - Curious about how BHP (ASX:BHP) and Newmont/Newcrest will react to the news that London-based, Ecuador-focused SolGold has garnered a new ally in the form of the country's government and a $US2.3 billion investment?
Southern Cross Media Group rejects initial bids
March 06, 2024 23:30 - 1000 KB07 Mar 2024 - Southern Cross Media Group (ASX:SXL) has informed its potential bidders – radio rival ARN and private equity firm Anchorage Capital – to come back with a higher offer.
No clear signal on rate cut timing leaves markets uncertain
March 06, 2024 20:59 - 1000 KB07 Mar 2024 - Well, he didn't add more Kool-Aid to the punch bowl, but Fed Chair Jay Powell certainly didn't give markets what they really desired: a clear statement on the timing of the first rate cut.
Australia's GDP expanded by 0.2% in fourth quarter
March 06, 2024 02:15 - 1000 KB06 Mar 2024 - For the second consecutive quarter, Australian economic growth lingered at the bottom of the activity curve, with a 0.2% increase from the September quarter and 1.5% growth over the year to December.
Stocks of the Hour: Atomo Diagnostics, AdAlta, Aruma Resources
March 06, 2024 00:25 - 1 minute - 1000 KB06 Mar 2024 - A snapshot of the stocks on the move, featuring Atomo Diagnostics (ASX:AT1), AdAlta (ASX:1AD) and Aruma Resources (ASX:AAJ).
Investors give big thumbs down to Albemarle's securities issue
March 05, 2024 23:21 - 1000 KB06 Mar 2024 - A massive thumbs-down from US investors to the move by lithium and chemical giant Albemarle, to raise up to $US2.01 billion in an issue of securities.
Audeara's transformative global sales deal
March 05, 2024 21:14 - 1000 KB06 Mar 2024 - A sales deal between a hearing assistance company and a maker of loud percussion instruments may seem incongruous, but to the ASX-listed Audeara (ASX:AUA) the transaction sends out all the right notes – loud and clear.
Gold shines as Wall Street falters: Market turmoil and record highs
March 05, 2024 21:09 - 1000 KB06 Mar 2024 - Whatever mysterious negatives spooked equity markets—especially Wall Street—on Tuesday slipped by gold. While major Wall Street indexes saw their biggest one-day falls for weeks, gold bounced to a new record high.
Hong Kong stock market reacts sharply to China's 2024 economic agenda
March 05, 2024 21:07 - 1000 KB06 Mar 2024 - The sharp fall of the Hong Kong stock market reflects the reception of China's 2024 economic agenda by markets following its presentation on the opening day of the country’s National People’s Congress.
China sets economic targets for 2024
March 05, 2024 03:47 - 1000 KB05 Mar 2024 - For yet another year, China has issued what amounts to a wish list of economic targets for the economy in 2024.
Shareholders to greenlight $3.70 offer for Azure Minerals
March 05, 2024 03:46 - 1000 KB05 Mar 2024 - Shareholders in Azure Minerals (ASX:AZS), excluding SQM of Chile and Hancock Prospecting of Perth, will vote to approve the $3.70 per share offer from the duo.
China sets ambitious economic targets
March 05, 2024 01:08 - 1000 KB05 Mar 2024 - For yet another year, China has issued what amounts to a wish list of economic targets for the economy in 2024.
Stocks of the Hour: Dynamic Metals, Alara Resources, Fin Resources
March 05, 2024 00:30 - 1 minute - 1000 KB05 Mar 2024 - A snapshot of the stocks on the move, featuring Dynamic Metals (ASX:DYM), Alara Resources (ASX:AUQ) and Fin Resources (ASX:FIN).
Albemarle plans $US2.1 billion share issue amidst lithium market downturn
March 04, 2024 22:27 - 1000 KB05 Mar 2024 - Albemarle is looking to raise more than $US2.1 billion (over $A3.2 billion) in a share issue to investors as it seeks to maintain high levels of liquidity to ride out the current downturn in demand for lithium and the concurrent price slide.
Gold prices surge past $2,100 mark
March 04, 2024 20:43 - 1000 KB05 Mar 2024 - World gold prices surged strongly on Monday, leaping back over $2,100 an ounce on Comex in New York. Silver prices also rose sharply as analysts struggled to pinpoint a driving factor for the strong gains.
Chariot Corporation expands Black Mountain Project
March 04, 2024 03:22 - 1000 KB04 March 2024 - Chariot Corporation (ASX:CC9) has significantly increased the footprint of its Black Mountain project through the acquisition of 218 contiguous claims, representing a 206% increase in project tenure area.
Unpredictable business inventories and their impact on GDP growth
March 04, 2024 02:47 - 1000 KB04 Mar 2024 - Business inventories wield considerable influence over GDP growth, often introducing unpredictability into economic forecasts.
Home building dips to 11-year low
March 04, 2024 02:45 - 1000 KB04 Mar 2024 - Home building has begun 2024 weakly. According to January approvals figures from the ABS released on Monday, they dropped to their lowest monthly level in 11 years.
Foreign bids surge for Australian companies
March 04, 2024 02:44 - 1000 KB04 Mar 2024 - Foreign bids for Australian companies continue to surge, with significant offers on the table. Saint-Gobain has bid $4.3 billion for CSR, while Japan's Renesas proposes $9.1 billion for Altium. Additionally, there's a $US1.6 billion Indonesian-Australian offer for Illawarra Coal.
Stocks of the Hour: Lake Resources N.L, Genex Power, St Barbara
March 04, 2024 00:14 - 1 minute - 1000 KB04 Mar 2024 - A snapshot of the stocks on the move, featuring Lake Resources N.L. (ASX:LKE; OTC:LLKKF), Genex Power Limited (ASX:GNX) and St Barbara (ASX:SBM).