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ECB joins Fed in preparing for 2024 rate cut amid falling inflation
December 19, 2023 23:09 - 1000 KB20 Dec 2023 - The European Central Bank (ECB) has joined the US Federal Reserve in preparing for a rate cut in 2024, as euro area inflation slumped to just 2.4% in November, barely above the 2% target. This result was significantly better than the market's forecast of a fall to 2.7%.
Canada confirms all new vehicles sold in 2035 must be electric
December 19, 2023 20:23 - 1000 KB20 Dec 2023 - Canada has confirmed media reports that it will move ahead with new rules that will compel all new vehicles sold in 2035 to be electric-powered.
Advancements towards Lithium Universe's lithium carbonate refinery
December 19, 2023 03:56 - 1000 KB19 Dec 2023 - Lithium Universe (ASX:LU7) has reported advancements in the engineering study being conducted by Hatch for the company's lithium carbonate refinery.
Lake Resources - Kachi Project DFS
December 19, 2023 03:52 - 1000 KB19 Dec 2023 - Lake Resources (ASX:LKE; OTC:LLKKF) has announced the results of its definitive feasibility study for Phase One of the Kachi lithium brine project in Argentina.
Stocks of the Hour: Lake Resources, Lithium Universe, Culpeo Minerals, Sunstone Metals
December 19, 2023 00:31 - 1 minute - 1000 KB19 Dec 2023 - A snapshot of the stocks on the move, featuring Lake Resources (ASX:LKE), Lithium Universe (ASX:LU7), Culpeo Minerals (ASX:CPO) and Sunstone Metals (ASX:STM).
Gold's rapid descent: From record highs to uncertain lows in a week
December 11, 2023 20:38 - 1000 KB12 Dec 2023 - Just a week ago, gold futures were soaring at $2,150 per ounce. However, by Monday's close, they had plummeted to under $2,000, with further declines anticipated ahead of crucial inflation data and the Federal Reserve's statement and rate decision on Thursday.
Study shows weight regain after stopping Eli Lilly's Zepbound
December 11, 2023 20:27 - 1000 KB12 Dec 2023 - In a significant development, new data indicates that patients who underwent treatment with Eli Lilly's groundbreaking weight loss drug, Zepbound, faced weight regain after discontinuing the medication for a year.
Costa faces earnings downgrade, Paine Schwartz eyes lower offer price
December 11, 2023 05:40 - 1000 KB11 Dec 2023 - Judging by the earnings downgrade issued by Costa Group (ASX:CGC) yesterday, its US suitor, Paine Schwartz, might have been considering another cut to its offer price, in addition to the one inflicted in September.
Looking into the Woodside and Santos merger
December 11, 2023 03:45 - 1000 KB11 Dec 2023 - Woodside Energy (ASX:WDS) and Santos (ASX:STO) have officially confirmed media reports that both companies are engaged in preliminary discussions regarding a possible merger.
Macy's back on bidding block
December 11, 2023 00:24 - 1000 KB11 Dec 2023 - According to US media reports, Arkhouse Management and Brigade Capital have recently submitted a proposal to acquire the chain for $21 per share, compared to Friday's closing price of $17.39.
Billionaire forced to raise bid for Pact
December 11, 2023 00:07 - 1000 KB11 Dec 2023 - Even hard-nosed billionaires can yield to minority shareholders in takeover situations, as seen last Monday.
Stocks of the Hour: Grand Gulf Energy, WhiteHawk, MetalsGrove Mining
December 10, 2023 23:36 - 1 minute - 1000 KB11 Dec 2023 - A snapshot of the stocks on the move, featuring Grand Gulf Energy, WhiteHawk, MetalsGrove Mining.
Chemist Warehouse to merge with Sigma Healthcare in $8.8 billion deal
December 10, 2023 22:49 - 1000 KB11 Dec 2023 - Private-owned Chemist Warehouse is set to become an ASX 200 top company through its backward takeover of Sigma Healthcare (ASX:SIG), creating a company valued at an estimated $8.8 billion.
Endeavor sets benchmark for Santos takeover
December 10, 2023 22:06 - 1000 KB11 Dec 2023 - The possible sale of major US independent energy group Endeavor Energy Partners provides a timely yardstick for the pricing of the potential takeover of Santos by Woodside Energy.
Deflation tightens grip on China's economy
December 10, 2023 20:42 - 1000 KB11 Dec 2023 - Deepening deflation has tightened its grip on the entire Chinese economy, underscoring the urgency behind the Chinese Communist Party and President Xi Jinping's recent emphasis on increasing government "fiscal stimulus."
Wall Street faces nervy week with dual sentiment test
December 10, 2023 20:41 - 1000 KB11 Dec 2023 - It's going to be a nervy half-week ahead for Wall Street, with a rare twin sentiment tester to contend with: a monthly consumer inflation report and then a Fed meeting, complete with new forecasts.
Commodity market update: Iron ore surges, thermal coal gains momentum
December 10, 2023 20:40 - 1000 KB11 Dec 2023 - While gold slid, and oil again notched up a losing week, iron ore continued its charge higher, and thermal coal prices had their strongest week in months - both of which should be good news for Australian resource companies.
Weekly market wrap: December 4th to December 7th
December 08, 2023 00:19 - 1000 KB08 Dec 2023 - In a week filled with notable developments and market fluctuations, the Australian Securities Exchange (ASX) and global financial markets experienced significant shifts driven by various overarching themes. Here's a comprehensive breakdown of the key events and their impact on different sectors and stocks during the period from Monday, December 4th, to Thursday, December 7th.
Stocks of the Hour: Lincoln Minerals, OncoSil Medical, Avira Resources
December 08, 2023 00:04 - 1 minute - 1000 KB08 Dec 2023 - A snapshot of the stocks on the move, featuring Lincoln Minerals (ASX:LML), OncoSil Medical (ASX:OSL) and Avira Resources (ASX:AVW).
Rio Tinto's 2023 mining advancements and green commitments
December 07, 2023 21:08 - 1000 KB08 Dec 2023 - It has been a bustling end to 2023 for Rio Tinto (ASX:RIO). A new iron ore mine in the Pilbara, confirmation of progress on a significant iron ore mine in Guinea, and finally, the long-awaited advancement in their Winu copper/gold and silver prospect towards the mining stage.
China's weak trade figures raise economic concerns
December 07, 2023 20:53 - 1000 KB08 Dec 2023 - China's latest set of weak trade figures on Thursday has heightened concerns about the strength of economic activity and the potential for further slowdown in 2024. However, iron ore prices have reached their highest level in Singapore in over a year, nearing $US134 per tonne (or more than $A200 per tonne). New data reveals a surge in iron ore imports into China, heading towards a new annual high with one month remaining.
Global oil prices fall for sixth consecutive session
December 07, 2023 20:50 - 1000 KB08 Dec 2023 - Global oil prices fell for a sixth straight session on Thursday, with the declines amounting to just a few cents. Some traders now believe that the selling pressure has subsided.
China's November trade report reveals economic struggles
December 07, 2023 05:08 - 1000 KB07 Dec 2023 - A weak trade report for November, especially concerning imports, confirms the ongoing challenges in the country's economy almost a year after hopes of a post-Covid economic boost.
Stocks of the Hour: Tamboran Resources, Invictus Energy, Blaze Minerals, Elixir Energy
December 07, 2023 00:50 - 2 minutes - 1000 KB07 Dec 2023 - A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Invictus Energy (ASX:IVZ), Blaze Minerals (ASX:BLZ) and Elixir Energy (ASX:EXR).
Fonterra raises earnings forecast amidst global price surge
December 06, 2023 23:29 - 1000 KB07 Dec 2023 - Fonterra (ASX:FSF), the world's largest producer and exporter of dairy products, has increased its earnings forecast and expected payments to New Zealand farmer customers in response to rising global prices.
Perpetual rejects Soul Pattinson's offer
December 06, 2023 21:44 - 1000 KB07 Dec 2023 - Perpetual (ASX:PPT) has rejected Washington H. Soul Pattinson's (ASX:SOL) all-paper offer, which includes no cash.
Chemist Warehouse to take over Sigma Healthcare in backdoor listing
December 06, 2023 05:40 - 1000 KB06 Dec 2023 - Sigma Healthcare is expected to announce a major transaction today, which will result in a backdoor listing by the privately-owned pharmacy giant, Chemist Warehouse, on the Australian stock exchange.
Evolution Mining shares fall 14% on Northparkes purchase funding
December 05, 2023 23:59 - 1000 KB06 Dec 2023 - Shares in Evolution Mining (ASX:EVN) plummeted by 14% on Wednesday after trading resumed following a halt. The halt was to facilitate the company's efforts to raise $525 million to finance the acquisition of an 80% stake in the Northparkes copper gold mine in New South Wales, Australia, from China's CMOC.
Stocks of the Hour: Latin Resources, Lanthanein Resources, Noble Helium
December 05, 2023 23:53 - 1 minute - 1000 KB06 Dec 2023 - A snapshot of the stocks on the move, featuring Latin Resources (ASX:LRS), Lanthanein Resources (ASX:LNR) and Noble Helium (ASX:NHE).
Rio Tinto sets $6.2 billion price for Simandou iron ore deposit in Guinea
December 05, 2023 23:13 - 1000 KB06 Dec 2023 - Rio Tinto (ASX:RIO) has placed a $6.2 billion price tag on its share of developing the Simandou iron ore deposit in the African country of Guinea.
Apple's market value surpasses $3 trillion mark
December 05, 2023 21:47 - 1000 KB06 Dec 2023 - Apple's market value surged past $3 trillion for the first time in four months on Tuesday as Apple shares gained 2% to reach $193.42. Despite reducing its shares through buybacks, the tech giant has seen its stock price rise by over 52% this year, showcasing its resilience.
Moody's downgrades China's sovereign credit outlook to negative
December 05, 2023 20:39 - 1000 KB06 Dec 2023 - Moody’s Investors Service has downgraded its outlook on China’s sovereign credit rating to negative.
Australian Q3 GDP forecast faces weakening as current account deficit rises
December 05, 2023 20:38 - 1000 KB06 Dec 2023 - The chances of today's Australian third-quarter GDP coming in weaker than forecast rose on Tuesday, with the country seeing a near $8 billion plunge in its current account deficit, reaching a deficit of $158 million.
Worried Russia watches as global oil prices slide further
December 05, 2023 20:37 - 1000 KB06 Dec 2023 - Global oil prices continued to decline on Tuesday, causing more concern for Russia. US crude prices reached their lowest levels since mid-year, hovering at around $72.57 a barrel at 7 am Wednesday, Sydney time, while Brent was trading at approximately $77.40.
Stocks of the Hour: Atlas Pearls, Adavale Resources, Horizon Minerals
December 05, 2023 03:35 - 1 minute - 1000 KB05 Dec 2023 - A snapshot of the stocks on the move, featuring Atlas Pearls, Adavale Resources and Horizon Minerals.
Rio Tinto to invest over half a billion dollars in Pilbara iron ore mine
December 05, 2023 00:10 - 1000 KB05 Dec 2023 - Rio Tinto has announced plans to spend over half a billion dollars on exploration and other activities for its upcoming anchor iron ore mine in the Pilbara region, ensuring its significance for decades to come.
Evolution Mining expands NSW investments
December 04, 2023 23:34 - 1000 KB05 Dec 2023 - Evolution Mining (ASX:EVN) has proposed to acquire an 80% stake in the long-established Northparkes copper-gold mine in the state's central west for over $700m.
Gold faces investor gravity: What goes up must come down
December 04, 2023 20:27 - 1000 KB05 Dec 2023 - The precious metal's prices plummeted from record highs during Monday's global session in Asia, driven by a stronger dollar and increased US treasury yields as the day progressed.
Investors deliver defeat to Origin Energy's takeover bid
December 04, 2023 20:26 - 1000 KB05 Dec 2023 - Today marks the judgment day for Origin Energy, as trading in the company's shares is set to resume later on Tuesday. This comes after the well-anticipated defeat of the $20 billion bid for the company by Canada's Brookfield and the US's EIF.
Empire Energy acquires AGL's Rosalind Park Gas Plant for $2.5m
December 04, 2023 05:49 - 1000 KB04 Dec 2023 - Empire Energy Group (ASX:EEG) has announced its strategic acquisition of AGL Limited's Rosalind Park Gas Plant for a total consideration of $2.5 million in cash.
$20 billion bid for Origin Energy defeated
December 04, 2023 04:17 - 1000 KB04 Dec 2023 - The $20 billion (enterprise value) bid for Australia's Origin Energy (ASX:ORG) has been defeated, leaving the company to chart its own path once again.
US regulations cast uncertainty over Australia's lithium sector
December 04, 2023 03:40 - 1000 KB04 Dec 2023 - Recent regulations issued by the US Department of Energy are set to have significant implications for Australia's lithium sector.
Ecopro inks $33.5bn deal with Samsung
December 04, 2023 03:09 - 1000 KB04 Dec 2023 - On the opening day of the Munich Motor Show (IAA) in Munich, Germany, Ecopro BM Co. announced a groundbreaking deal with Samsung SDI Co. that could reshape the electric vehicle (EV) market.
Gold soars past $2,100 in Asian trading
December 04, 2023 03:06 - 1000 KB04 Dec 2023 - Gold soared past $2,100 in Asian dealings on Monday, setting a new high for the third consecutive day.
Lithium miners worry as China's EV market stagnates
December 04, 2023 03:04 - 1000 KB04 Dec 2023 - Worrying signs are emerging for Australian lithium miners and processors. Industry leader BYD has reported no growth in sales for battery-powered vehicles since October.
Stocks of the Hour: BluGlass, Liontown Resources, Noble Helium, Empire Energy
December 04, 2023 01:18 - 2 minutes - 1000 KB04 Dec 2023 - A snapshot of the stocks on the move, featuring BluGlass (ASX:BLG), Liontown Resources (ASX:LTR), Noble Helium (ASX:NHE) and Empire Energy (ASX:EEG).
Metcash trims interim dividend
December 04, 2023 00:32 - 1000 KB04 Dec 2023 - Metcash, the supermarkets, hardware, and liquor group, has reduced its interim dividend for the six months ending on October 31 due to a noticeable slowdown in earnings growth.
Tower announces ownership structure review
December 03, 2023 21:48 - 1000 KB04 Dec 2023 - In a surprising announcement, New Zealand-based insurer Tower has declared a strategic review of its ownership structure.
Gold hits record high amid dollar and yield decline
December 03, 2023 20:33 - 1000 KB04 Dec 2023 - Gold reached a record high on Friday as the dollar and Treasury yields fell following weak US economic data. Investors seemingly disregarded Fed Chair Jay Powell's warning of potential rate hikes if inflation strengthens once more.
OPEC+ meeting fallout: Oil prices decline despite production cuts
December 03, 2023 20:24 - 1000 KB04 Dec 2023 - Last week, OPEC+ convened but witnessed oil prices falling, despite claims of production cuts made during Thursday's meeting.