Market News

A nervous Reserve Bank board has its hand on the interest rate lever, ready to push the cash rate up to 4.35% at the Melbourne Cup meeting on November 7 if it feels inflation is getting out of hand. The minutes of the October board meeting, released on Tuesday, clearly show that the bank and […]

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the war in Israel and oil. Key points:The war in Israel has added to the upside risks to oil prices and downside risks to shares in the near term.If Iran stays out of the conflict & a major supply disruption is avoided

The ASX overcame a two-session losing streak thanks to a surge in technology-related stocks, despite some surprisingly cautious remarks from the Reserve Bank of Australia. The central bank considered increasing rates by 25 basis points but ultimately chose to keep them steady at 4.1%. The minutes also highlighted the board’s limited patience for a slower-than-expected

Bapcor (ASX:BAP), the auto parts retailer and wholesaler, is grappling with a challenging beginning to the 2023-24 fiscal year due to a slowdown in consumer demand, impacting its trading performance. It appears that even car enthusiasts are refraining from splurging on vehicle parts and accessories, as indicated during the annual meeting held on Tuesday. Factors

Australian shares initially rose in the morning but later retraced some of those gains due to hawkish comments in the Reserve Bank of Australia’s latest monetary policy minutes, which dampened market optimism. The central bank members discussed the possibility of increasing interest rates by 25 basis points but eventually chose to keep the rate unchanged

In its first estimate for 2024, Rio Tinto (ASX:RIO) has surprised by forecasting only a marginal rise, at best, in iron ore shipments over 2023. However, Rio also said that its shipments will only be maintained at this very high level by availability and shipments of its lower-grade ores (called SP10). The world’s biggest iron

Despite a surge in petrol prices, New Zealand’s consumer price inflation sharply slowed in the September quarter, effectively dispelling market speculation about the central bank’s need to raise interest rates again. Expectations had suggested that higher fuel costs would drive consumer prices above the 6% annual rate recorded in the June quarter, possibly prompting the

Magellan Minutes is designed to provide you with concise, relevant and digestible talking points on global markets, in a video that is around 10 minutes. Join Adrian Lu as he provides insights into the developments and opportunities in Artificial Intelligence (AI). The frontrunners in this space and the challenges and future growth of this sector.

Rincon Resources (ASX:RCR) announced that their exploration activities intersects a wide zone of quartz-sulphide mineralisation at their South Telfer Project, Paterson Range. A total of 3 holes have been completed so far, with a further 12 holes remaining. Shares are trading 5.56 per cent higher at 3.8 cents. Battery Minerals (ASX:BAT) has entered into a

The Reserve Bank of Australia recently released its latest minutes regarding the cash rate decision. During the meeting, members contemplated increasing the cash rate target by 25 basis points but ultimately chose to keep rates unchanged for the fourth consecutive time. They noted that the labor market had undergone a significant change and that economic