Market News

Fortescue Metals (ASX:FMG) will commit more than $A1.1 billion ($US750 million) to its first three projects on the list of ambitious plans to become a major force in hydrogen and renewable energy. The company unveiled the final investment decisions ahead of its annual meeting in Perth on Tuesday. The major spend will be $US550 million […]

The S&P/ASX 200 is trading 0.33 per cent higher at 7,082. Futures The SPI futures are up 26 points. Best and worst performers The best-performing sector is Materials, up 1.58 per cent. The gains are largely due to the iron ore futures on the Singapore exchange increasing by 2 per cent to US$133.75 a tonne

The IVE Group (ASX:IGL) AGM held recently underscored the company’s robust performance throughout the fiscal year ending June 2023.  And in response, UBS has issued a price target of $2.70 and a Buy rating. The multinational investment bank has made this rating due to the positive financial metrics and expectations of organic EPS growth over the

IVE Group Limited (ASX:IGL) Executive Chairman Geoff Selig and CEO Matt Aitken present at the group’s FY23 annual general meeting. Agenda Key highlightsFinancial performanceOperational updatesOvatoLasooGrowth initiativesContent creationApparel and uniformsPackagingEnvironmental, social and governanceTrading update and outlook

BlueScope Steel (ASX:BSL) has announced that its December half-year results are expected to surpass the company’s earlier forecasts, as outlined in its October 20 guidance. In an update released before the annual meeting on Tuesday, the company stated that, “given the recent significant increase in US benchmark spreads,” it anticipates its underlying earnings before interest

Brisbane-based TechnologyOne (ASX:TNE) will pay a special 3 cents per share dividend on top of its ordinary final payout, following a 16% increase in net earnings to just over $130 million for the year ending in September. This rise exceeded the company’s forecasted 10% to 15% increase in net earnings. The total dividend for the

Australian stock markets commenced the day with upward momentum, mirroring the positive trend seen on Wall Street. This surge was primarily attributed to Microsoft’s strong performance, which ignited a significant rally in the largest technology companies in the United States. Furthermore, energy-related stocks also saw gains, driven by the continued rise in crude oil prices.

Pure Resources (ASX:PR1) announced a LIBS results of 11.7% lithium at their project in Sweden. In response, Pure’s Executive Chairman, Patric Glovac, commented, “Three known spodumene pegmatite occurrences are described just a few hundred metres east of the perimeter boundary of the licence area, at least one of them showing considerable volume proven by drilling.”

Stocks jumped Monday to start a holiday shortened week, boosted by strong tech gains led by Microsoft and Nvidia. The Dow Jones Industrial Average gained 203.76 points, or 0.58 per cent, to close at 35,151.04 . The S&P 500 added 0.74 per cent and ended at 4,547.38, while the Nasdaq Composite climbed 1.13 per cent

Investors have given a big thumbs-up to the surprise news that Lucapa Diamond (ASX:LOM) has halted the feasibility study for its Merlin project in the Northern Territory. In a statement to the ASX, the company blamed what it called “unfavorable capital market and diamond price environments.” Instead, it said it would start small and try