Market News

Australian shares have fallen 0.8 per cent after Wall Street fell on mixed profit reports from Microsoft and Alphabet. Alphabet’s stock price dropped significantly by 9.5 per cent due to struggles in its cloud business. In contrast, Microsoft saw a 3.1 per cent increase in its stock price. Facebook’s parent company, Meta, reported improved earnings […]

Coles (ASX:COL) fell short of matching the September quarter sales performance of its bigger supermarket rival, Woolworths (ASX:WOW). While Woolies lifted group sales by 5.3% and Australian food (supermarkets) by 6.4%, Coles reported a 3.6% rise in first-quarter sales and 4.7% for its supermarkets. Excluding tobacco sales (which continue to fall), Coles supermarket sales were

Australian consumer electronics giant JB Hi-Fi (ASX:JBH) has reported sluggish growth, following Super Retail Group’s earlier announcement of a stable but unremarkable start to the 2023-24 trading year. JB Hi-Fi disclosed that first-quarter sales are meeting expectations, with softer trends in its Australian electronics stores and a significant 12.2% decline in sales at white goods

Governor of the Reserve Bank of Australia, Michele Bullock, has stated that they are still in the process of analysing the recent CPI (Consumer Price Index) figures. She has not made a definitive statement about whether these figures would lead to a significant alteration in the bank’s outlook on inflation and the possibility of raising

To register for Friday’s webinar click here. Future Metals (ASX:FME, AIM:FME) is pleased to announce it has an updated independent JORC Code Mineral Resource Estimate for its 100% owned Panton Project. The results confirm as the highest grade in Australia and one of the highest grade undeveloped PGM projects globally. Shares are flat at 3.1

On Thursday, Brambles (ASX:BXB), the global logistics giant, reported a 13% increase (15% higher at actual Forex rates) in September quarter revenues, reaching $US1.64 billion ($A2.56 billion). Despite this impressive figure, the company reaffirmed its full-year guidance, projecting revenue growth of 6% to 8%. This raises the question: Is Brambles anticipating a gradual slowdown in

Pilbara Minerals (ASX:PLS) has ruled out any immediate capital management moves, except for dividends, as first-quarter lithium prices and revenues declined, with the outlook remaining uncertain. However, the company plans to release details of new sales of up to 300,000 tonnes annually by the March quarter of next year. In commentary on the strong quarterly

On Wednesday, gold and oil prices surged as reports emerged of Israel’s preparations for a potential invasion of Gaza. The surge followed a televised speech by Israeli Prime Minister Netanyahu, in which he announced the country’s army’s readiness to enter Gaza, although no specific timetable or details were provided. US Treasury yields also rose, with

Nasdaq slid into correction territory, leaving Wall Street in uncertainty. Meta Platforms may have initially reported stronger-than-expected quarterly results on Wednesday, but by the end of the extended trading session, a 4% gain had dwindled to just 2.6%. Despite its robust quarterly performance catching the attention of traders and analysts, the after-hours bounce couldn’t compensate

The S&P 500 closed below a key level on Wednesday. The benchmark index fell 1.4 per cent, ending the day below the 4,200 level that was being widely watched by chart analysts. It was the first time the S&P 500 closed below this threshold since May. Stock losses accelerated during the session after the benchmark broke