Latest Company News - Finance News Network
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Mixed reactions to economic data and political shifts
July 07, 2024 21:40 - 1000 KB08 Jul 2024 - The ASX is looking at a hesitant start to trading today for the second week of the new financial year, despite a rise in most global markets on Friday due to a dip in the US dollar and Treasury bond yields following the release of weaker June jobs figures.
Coal market reactions and Glencore's Canadian acquisition
July 07, 2024 21:40 - 1000 KB08 Jul 2024 - Coal industry traders ended the week moving away from coking coal, despite the enthusiasm on the ASX for coal stocks following the huge fire at Anglo America's Grosvenor underground metallurgical mine in Queensland's Bowen Basin.
US crude prices dip from seven-week high
July 07, 2024 21:39 - 1000 KB08 Jul 2024 - US crude prices eased off a seven-week high at Friday’s close, despite robust summer demand.
Gold prices surge amid weak jobs report
July 07, 2024 21:37 - 1000 KB08 Jul 2024 - Gold prices jumped on Friday as the US dollar and US bond yields fell in the wake of the weakest jobs report in several months.
Iron ore prices slip from three-month highs
July 07, 2024 21:36 - 1000 KB08 Jul 2024 - Iron ore prices slipped late last week from three-month highs on Thursday but still finished the first week of the new financial year with a small gain.
Westgold Resources approaches record revenues
July 05, 2024 02:01 - 1000 KB05 Jul 2024 - As Westgold Resources (ASX:WGX) heads towards its $1.3 billion merger with Karora Resources later this year, it is also approaching record revenues of over $700 million for the year ending June 30. This comes despite a drop in annual gold output.
Tesla and BYD: The global BEV production and sales race heats up
July 05, 2024 01:58 - 1000 KB05 Jul 2024 - Even though Tesla has again managed to remain ahead of BYD in the global battery-powered EV (BEV) production and sales race, analysts say it's only a matter of time before the Chinese car giant moves into the lead.
Stocks of the Hour: Clinuvel Pharmaceuticals, Mt Malcolm Mines, Auric Mining
July 05, 2024 01:35 - 1 minute - 1000 KB05 Jul 2024 - A snapshot of the stocks on the move, featuring Clinuvel Pharmaceuticals (ASX:CUV), Mt Malcolm Mines (ASX:M2M) and Auric Mining (ASX:AWJ).
Coal market disruptions spark rally in ASX mining stocks
July 05, 2024 00:58 - 1000 KB05 Jul 2024 - In the past week, disruptions at two significant coal mines have fuelled concerns about a shortage of supply just as demand for the commodity surges, triggering a rally in ASX-listed mining stocks.
US employment report anticipated to show hiring slowdown
July 05, 2024 00:56 - 1000 KB05 Jul 2024 - The upcoming US employment report is projected to reveal a significant slowdown in hiring for June, coupled with a tapering off in wage growth.
Oil prices steady near two-month high
July 05, 2024 00:55 - 1000 KB05 Jul 2024 - Oil prices remained stable near a two-month high, as conflicting market signals emerged, with weaker demand in Asia balancing out a significant drop in US crude stockpiles.
Lagarde stresses data-driven approach for future ECB rate decisions
July 05, 2024 00:54 - 1000 KB05 Jul 2024 - The European Central Bank needs to see more robust evidence that inflation is steadily moving towards the 2 percent target before contemplating additional interest rate cuts, ECB President Christine Lagarde stated.
EU imposes provisional duties on Chinese electric vehicle imports
July 04, 2024 21:21 - 1000 KB05 Jul 2024 - The European Union will start imposing provisional countervailing duties on imports of electric vehicles (EVs) from China today, July 5, while negotiations with China continue for a more permanent arrangement.
Stocks of the Hour: Bapcor, Summit Minerals, DY6 Metals
June 11, 2024 01:40 - 1 minute - 1000 KB11 Jun 2024 - A snapshot of the stocks on the move, featuring Bapcor (ASX:BAP), Summit Minerals (ASX:SUM) and DY6 Metals (ASX:DY6).
Alkane Resources faces gold production setback
June 11, 2024 01:34 - 1000 KB11 Jun 2024 - Alkane Resources (ASX:ALK) surprised on Tuesday with a downgrade of its 2023-24 gold production and cost estimates for its Tomingley mine, even though the shares failed to reflect the news with an early session rise.
National Australia Bank's May survey
June 11, 2024 01:33 - 1000 KB11 Jun 2024 - The recent federal budget had no positive impact on business conditions and confidence, according to the May monthly survey from the National Australia Bank.
Bapcor considers non-binding offer from Bain Capital
June 11, 2024 00:15 - 1000 KB11 Jun 2024 - Struggling automotive parts retailer and distributor, Bapcor (ASX:BAP), has confirmed that US private equity group Bain Capital has lobbed a non-binding offer at around $5.40 a share, approximately $1 above Friday’s close of $4.36.
The financial tides of Beach Energy
June 10, 2024 23:56 - 1000 KB11 Jun 2024 - Beach Energy (ASX:BPT) has flagged more asset impairments for the year to June 30, with the total bill topping $1.1 billion.
Elon Musk threatens Apple ban over OpenAI integration
June 10, 2024 22:05 - 1000 KB11 Jun 2024 - Elon Musk wants shareholders in Tesla to approve his controversial multi-billion dollar share deal at Thursday’s annual meeting. To show that he has their best interests at heart, he says he will ban Apple products from Tesla cars and other products if the phone giant integrates OpenAI’s technology into its iPhones.
Tesla's Model Y dilemma
June 10, 2024 21:16 - 1000 KB11 Jun 2024 - It’s no wonder Tesla CEO Elon Musk has knocked down stories that the company is planning to refresh its key seller, the Model Y EV, this year.
Groupthink in financial markets - gold edition
June 10, 2024 21:13 - 1000 KB11 Jun 2024 - Ah, the dangers of groupthink in financial markets—the gold edition.
China's import trends in May
June 10, 2024 21:12 - 1000 KB11 Jun 2024 - Amid the slower-than-forecast imports for China for May, the usual suspects - iron ore, copper, and coal - stood out, but oil slid, even though global prices were not all that strong.
OPEC+ adapts amidst shifting oil markets
June 10, 2024 21:10 - 1000 KB11 Jun 2024 - Reality drifted through global oil markets last week after OPEC+ bowed to reality and announced it would start easing its production caps, while keeping others in place until next year.
Central Banks' diverging paths
June 10, 2024 21:09 - 1000 KB11 Jun 2024 - The US Federal Reserve meets this week, and one thing is certain: after the surprise surge in US job numbers in May, the Fed won’t be following the European Central Bank and Bank of Canada in cutting its key interest rates anytime soon.
Market highlights: Tech earnings, investor concerns, Berkshire's moves
June 10, 2024 21:06 - 1000 KB11 Jun 2024 - A handful of results, and lots of annual meetings, are scheduled for the US and European markets this week.
Stocks of the Hour: PYC Therapeutics, Caprice Resources, Walkabout Resources
June 07, 2024 01:45 - 1 minute - 1000 KB07 Jun 2024 - A snapshot of the stocks on the move, featuring PYC Therapeutics (ASX:PYC), Caprice Resources (ASX:CRS) and Walkabout Resources (ASX:WKT).
Failed BHP takeover sparks mining sector rally
June 06, 2024 22:01 - 1000 KB07 Jun 2024 - BHP's (ASX:BHP) unsuccessful takeover attempt of Anglo American has invigorated the mining industry, boosting share prices and highlighting the sector's critical role in decarbonizing the global economy. Now, the challenge for executives is to convert this attention into the financial support needed to produce the metals required for renewable energy infrastructure.
Record temperatures drive early demand surge for fuel oil and renewable energy
June 06, 2024 21:59 - 1000 KB07 Jun 2024 - Last year was the warmest on record since global data collection began in 1850, with extreme weather and prolonged heatwaves pushing temperatures 1.18°C above the 20th-century average. This year, heatwaves have already affected the Middle East and Southeast Asia, starting as early as April, indicating a busy year ahead for power companies.
Market cap swings: Microsoft holds, Nvidia and Apple fluctuate
June 06, 2024 21:25 - 1000 KB07 Jun 2024 - On Wednesday, there were three companies worth more than $3 trillion USD: Microsoft, Nvidia, and Apple.
European Central Bank initiates interest rate cut
June 06, 2024 21:20 - 1000 KB07 Jun 2024 - The European Central Bank has cut interest rates for the first time in nearly five years, moving ahead of its US and UK counterparts in lowering borrowing costs after the biggest price surge for a generation. The move was widely forecast and pushed European shares to record highs for a second day.
SkyCity Entertainment faces financial challenges
June 06, 2024 05:23 - 1000 KB06 Jun 2024 - Shareholders in the Trans-Tasman casino group SkyCity Entertainment (ASX:SKC) will bear the costs of the slowdown in business and gambling at its casinos in Auckland and Adelaide by missing out on three dividend payments over the next 18 months.
Stocks of the Hour: Osteopore, Ausgold, Firetail Resources, Adavale Resources
June 06, 2024 01:30 - 1000 KB06 Jun 2024 - A snapshot of the stocks on the move, featuring Osteopore (ASX:OSX), Ausgold (ASX:AUC), Firetail Resources (ASX:FTL) and Adavale Resources (ASX:ADD).
Mineral Resources sells minority stake in WA iron ore haul road
June 05, 2024 22:40 - 1000 KB06 Jun 2024 - Mineral Resources (ASX:MIN) has finally sold a minority stake in its WA iron ore haul road for a significant $A1.3 billion.
Bank of Canada cuts key rates by 0.25%
June 05, 2024 21:53 - 1000 KB06 Jun 2024 - The Bank of Canada cut its key rates by 0.25%, joining central banks in Sweden and Switzerland, and ahead of the European Central Bank, which is widely forecast to cut by a similar amount on Thursday.
Challenges and shifts in Australian car sales
June 05, 2024 21:53 - 1000 KB06 Jun 2024 - Five months into the year, Australian car sales are growing at a record pace. If this trend doesn’t slow in the next seven months, total new sales could top 1.3 million, setting a new all-time high.
Wall Street milestone: Three companies surpass $3 trillion mark
June 05, 2024 21:52 - 1000 KB06 Jun 2024 - Market values continue to fluctuate at the top of Wall Street, and for the first time ever, a session finished with three companies worth $US3 trillion or more.
Analysis of the March quarter national accounts
June 05, 2024 03:57 - 1000 KB05 Jun 2024 - The March quarter national accounts didn’t tell us anything we didn't already know - the economy is struggling. The 0.1% rise in growth in the quarter was very underwhelming, and the 1.1% annual rate indicated stagnation.
Stocks of the Hour: Calmer Co International, PharmAust, Magnum Mining & Exploration
June 05, 2024 01:25 - 1 minute - 1000 KB05 Jun 2024 - A snapshot of the stocks on the move, featuring Calmer Co International (ASX:CCO), PharmAust (ASX:PAA & PAAOA) and Magnum Mining & Exploration (ASX:MGU).
Stealth Group acquires Force Technology International
June 05, 2024 01:12 - 1000 KB05 Jun 2024 - 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.
Warren Buffett's prudent investment strategy
June 05, 2024 00:19 - 1000 KB05 Jun 2024 - American investment analysts and traders have finally woken up to the strategy Warren Buffett and Berkshire Hathaway are using to invest surplus cash in US Treasury bonds.
When weak news is good news on Wall Street
June 04, 2024 23:45 - 1000 KB05 Jun 2024 - Suddenly, the flow of economic news is all confused, with weak news becoming good news, at least for US investors on Tuesday.
Trends in mineral and energy exploration spending
June 04, 2024 23:30 - 1000 KB04 Jun 2024 - "Follow the money" is always a good adage in stock market investment. There's nothing like momentum or choice to tell a broader story about what investors and companies are doing with their money. And that applies in exploration for minerals as well as energy commodities.
India's stocks decline following surprise election
June 04, 2024 23:30 - 1000 KB05 Jun 2024 - India's stocks appear to be selling down for a second consecutive day today, following Tuesday’s significant slump in response to the surprising election outcome.
Tesla's struggle in China
June 04, 2024 22:02 - 1000 KB05 Jun 2024 - Tesla's performance in China—its most important market—continues to flag, raising more questions about its performance this quarter and for the rest of 2024.
Stocks of the Hour: ABx Group, ACDC Metals, Condor Energy
June 04, 2024 01:25 - 1 minute - 1000 KB04 Jun 2024 - A snapshot of the stocks on the move, featuring ABx Group (ASX:ABX), ACDC Metals (ASX:ADC) and Condor Energy (ASX:CND).
Assessing Australia's March quarter economic growth
June 03, 2024 23:40 - 1000 KB05 Jun 2024 - There’s every chance Australia’s March quarter economic growth went backwards after the final data drop on Tuesday, covering trade, government finance, wages, salaries, and inventories.
Cheating scandal rocks Japanese car industry
June 03, 2024 21:35 - 1000 KB04 Jun 2024 - Widespread cheating in the huge Japanese car industry has been exposed by a government investigation, with Toyota, Mazda, Hino, Daihatsu, and Honda caught up and named for breaches of various rules and safety tests.
Iron ore traders' confidence shaken as Singapore prices plummet
June 03, 2024 21:22 - 1000 KB04 Jun 2024 - The old "boom, no it's a bust" mentality among iron ore traders emerged Monday when Singapore prices slid 4% or more on nerves about Chinese demand.
Potential oil and gas discovery off South Korean coast
June 03, 2024 21:21 - 1000 KB04 Jun 2024 - There won’t be any confirmation for a year or more, but the South Korean government has suddenly become very, very optimistic that it has identified a potential major oil and gas resource in the East Sea, off the city of Pohang (home to the huge steel group, POSCO).
OPEC+ extends production caps
June 03, 2024 21:19 - 1000 KB04 Jun 2024 - Never a good sign to show weakness when you claim to be controlling a key commodity market and expect to escape some sort of punishment. But that’s what the OPEC+ group did with its extension of its production caps until well into 2025—down went prices on Monday, thereby making all OPEC members poorer for at least a session.