Market News

The forecasts for 2024 have been coming in rapidly, and some predictions about stock markets have turned out to be quite inaccurate, especially regarding key measures like the S&P 500. One forecast that drew attention this week came from Moody’s, which issued a cautionary outlook for the health of the global banking sector in the […]

Evolution Mining (ASX:EVN) is making a significant move to expand its investment in the New South Wales mining industry. The company has proposed to acquire an 80% stake in the long-established Northparkes copper-gold mine in the state’s central west for over $A700 million. This strategic deal marks Evolution Mining’s second mine in the region, complementing

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. In a statement released on Tuesday, Rio disclosed its approval for a $US77 million (over $A115 million) pre-feasibility study for

Australian shares are declining at midday, with mining and tech stocks leading the downturn, ahead of the Reserve Bank of Australia’s final rate decision for the year. Material sector has been particularly affected, down by 1.8%, with major iron ore companies like BHP, Rio Tinto, and Fortescue experiencing more than a 1% drop, along with

Stocks slipped on Monday as investors questioned whether the market was getting ahead of itself following five straight winning weeks. The Dow Jones Industrial Average shed 41.06 points, or 0.11 per cent, to close at 36,204.44. The S&P 500 dropped 0.54 per cent to 4,569.78. The Nasdaq Composite declined 0.84 per cent to 14,185.49 as

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. On Monday afternoon, the company’s shares were trading at $7.86 before trading was

Gold experienced a downward spiral on Monday, adhering to the age-old adage that what goes up must come down. 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. Comex gold for February delivery witnessed a decline

Empire Energy Group (ASX:EEG) has announced its strategic acquisition of AGL Limited’s Rosalind Park Gas Plant (RPGP) for a total consideration of $2.5 million in cash. Empire Energy anticipates substantial cost savings exceeding $30 million through this acquisition when compared to the alternative of constructing new midstream infrastructure. Furthermore, this move is expected to reduce

The Australian sharemarket experienced a positive uptick on Monday with nine of its 11 sectors showing gains, driven by investor optimism amid expectations that global central banks have completed their monetary policy tightening.  At the closing bell, the S&P/ASX 200 was 0.73 per cent higher at 7,124.70. Futures The Dow Jones futures are pointing to

Gold soared past $2,100 in Asian dealings on Monday, setting a new high for the third consecutive day. On Friday, spot gold closed at $2,070.10, just $10 shy of the record high achieved in May. Comex’s continuous contract of gold futures, which merges the most active contract month into the next, broke the record high,