Market News

Retail sales in October declined by 0.2% compared to September, falling short of the expected 0.1% increase, indicating that rising borrowing costs and elevated inflation are impacting consumers’ spending. However, over the 12-month period leading up to October, sales have increased by 1.2% compared to the previous year. At noon, the S&P/ASX 200 is 0.72 […]

The vast desert expanse of Western Australia, once renowned for its gold, nickel, and iron ore deposits, has now become the epicenter of a fierce competition among miners vying for control of lithium, a crucial raw material in the global shift towards greener energy. This year has witnessed a heated struggle for control of lithium

Global commodities giant Louis Dreyfus (LDC) is looking to acquire Namoi Cotton (ASX:NAM) with a non-binding all-cash offer of 51 cents per share, representing a substantial 41% premium over Monday’s closing price of 36 cents. Louis Dreyfus, currently the largest shareholder with a 17% stake, is also a partner in two joint ventures with Namoi.

Namoi Cotton (ASX:NAM) has received a non-binding, indicative and conditional offer (NBIO) from Louis Dreyfus Company Asia to acquire the remaining 83% of issued shares in Namoi that it does not currently own, by way of a scheme of arrangement, for a total cash consideration of $0.51 per share. The NBIO permits Namoi to pay

The price of gold surged to a six-month high on Monday, driven by growing investor confidence that the US Federal Reserve has concluded its series of interest rate hikes and a weakening US dollar. Spot gold prices rose by 0.6 percent, reaching $2,014.55 per troy ounce, marking the highest level since mid-May. This surge contributed

The Dow Jones Industrial Average fell on Monday, as traders took a breather after the major averages posted a four-week winning streak. The Dow Jones Industrial Average lost 56.68 points, or 0.16 per cent, to 35,333.47. The S&P 500 shed 0.20 per cent to 4,550.43. The Nasdaq Composite edged lower 0.07 per cent to 14,241.02.

Perseus Mining (ASX:PRU) has utilised a portion of its US$600 million (over A$900 million) cash reserve to acquire a significant stake in OreCorp, a competing African mining company. In this move, Perseus CEO Jeff Quartermaine underscored the company’s eagerness to use its cash reserve for expansion, stating, “Perseus continues to assess and, where deemed commercially

The Australian sharemarket experienced a decline on Monday due to a sell-off in commodity stocks, primarily driven by a drop in the value of iron ore. This decline was prompted by concerns that Beijing might intervene to control rising prices, causing the materials sector to underperform. Notable companies such as BHP, Fortescue Metals, and Rio

Perth-based IGO (ASX:IGO) has cleared incoming CEO Ivan Vella after he was summarily fired by his former employer, Rio Tinto, over a confidentiality breach. In a statement early Monday, IGO said its board continues to have confidence in incoming Chief Executive Ivan Vella despite the policy breach during his handover at Rio. IGO said Vella,

QBE (ASX:QBE) looks set to meet or exceed its 2022 net profit, thanks to a remarkable turnaround in investment returns during the year ending in December. QBE disclosed a 2022 statutory profit of $US770 million. Its 2023 interim result of $US400 million indicates it is on track to at least match that figure. However, a