Market News

On Wednesday, the Australian sharemarket experienced its largest one-day rally in over a year, with the benchmark S&P/ASX 200 index surging 1.7% to 7178.4 points, driven by increased speculation of an interest rate cut by the Reserve Bank. This marked the largest gain since November 2022, and the market now fully anticipates an RBA rate […]

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. This deal will provide Evolution

To register for Friday’s webinar click here. Latin Resources (ASX:LRS) has announced a 56% increase in the JORC resource at the Salinas Lithium Project. In response, Latin Resources Managing Director, Chris Gale, commented, “What a great effort from our exploration team. Another significant milestone met with our upgraded MRE to over 70Mt. This Project is

Australia’s GDP growth in the third quarter was 0.2%, falling short of the market consensus of 0.4%, with a year-on-year expansion of 2.1%, in line with the previous quarter and exceeding forecasts. This data is crucial as the central bank aims to control inflation, keeping the cash rate unchanged at 4.35%, and global traders are

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. The iron ore, located in Guinea’s Simandou mountains, represents one of the world’s largest untapped deposits of the commodity, boasting a grade of approximately 65% Fe, similar to the

Moody’s Investors Service has downgraded its outlook on China’s sovereign credit rating to negative. The agency cited growing risks of persistently lower midterm economic growth and the ongoing negative impact from the country’s property crisis, which shows few signs of improvement. Moody’s believes that the property sector’s troubles will compel the government to bail out

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. Apple initially crossed the $3 trillion milestone in

The Dow Jones Industrial Average and the S&P 500 slid on Tuesday as a recent rally on Wall Street lost steam. The 30-stock Dow slid 79.88 points, or 0.22 per cent, to close at 36,124.56. The S&P 500 inched lower by 0.06 per cent to 4,567.18. The Nasdaq Composite gained 0.31 per cent to end

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. Prices briefly increased during early trading when Russia suggested that the OPEC+ group might

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. The fall in the current account surplus into a small deficit was due to a slide in commodity prices, especially