Stocks dropped Wednesday as earnings season gained steam and Treasury yields climbed to multiyear highs. The 10-year Treasury yield climbed on Wednesday, at one point breaking above 4.9 per cent for the first time since 2007. Meanwhile, the average rate on the popular 30-year fixed mortgage rate just hit 8 per cent, the highest level […]
US stocks slip as Treasury yields hit levels not seen since 2007 Read More »
Whitehaven Coal (ASX:WHC) plans to acquire two Queensland coking coal mines from BHP and Mitsubishi, opting for a traditional layaway plan over modern equity/debt packages preferred by banks and corporate advisers. Whitehaven will initiate the deal with a multi-billion dollar deposit, followed by staged repayments over the next couple of years, ultimately reaching $US3.2 billion
Whitehaven’s funding strategy Read More »
The Australian sharemarket increased in value on Wednesday, as China’s gross domestic product (GDP) for July-September grew by 4.9% compared to the previous year. At the closing bell, the S&P/ASX 200 was 0.3 per cent higher at 7,077.60. Futures The Dow Jones futures are pointing to a fall of 29 points. The S&P 500 futures are
ASX closes 0.3% higher as China’s GDP grows Read More »
The new financing package for Liontown Resources (ASX:LTR) and its Kathleen Valley lithium mine in WA won’t be known until Friday morning. The company requested its shares to be suspended on Wednesday. The suspension request came after Liontown had asked for a trading halt until Wednesday last week to sort out the financing package. The
Liontown financing delayed Read More »
If China’s economic performance in September and the September quarter were a school report card, it would have earned a bare pass mark of 50%, with the comment “Should be doing better.” Every measure of activity across the month and the quarter was weak to poor as the country continues to grapple with weak demand
China’s average September economic performance Read More »
The S&P/ASX 200 is trading 0.16 per cent higher at 7,067.40. Futures The SPI futures are down 1 point. Best and worst performers The best-performing sector is Energy, up 1.6 per cent. The worst-performing sector is Information Technology, down 1.18 per cent. The best-performing large cap is Northern Star Resources (ASX:NST), trading 2.57 per cent
Afternoon update: ASX up 0.16% following China’s Q3 economic performance Read More »
BHP (ASX:BHP) has left its 2023-24 production guidance unchanged after making a solid start to the year in the three months to September 30. The world’s biggest miner did well across all businesses as they completed their normal first-quarter maintenance and other work (which always depressed production performance) to set up what the miner hopes
BHP guidance unchanged Read More »
Glencore has announced the closure of its copper mining operations in Mount Isa by the end of 2025, resulting in the loss of approximately 1,000 jobs. However, the company plans to maintain its refinery and smelters in North Queensland. The decision to close the three underground copper mines in Mt Isa by the second half
Mount Isa copper mines to close by 2025 Read More »
Shares in Credit Corp (ASX:CCP) plunged on Wednesday as the company shocked the market with news of a write-down in the carrying value of its US debt ledger business. The shares fell 30% at one stage on Wednesday morning and were still down more than 20% after the first hour of trading as investors abandoned
Credit Corp plummets as US business faces impairment Read More »
Oil prices surged by up to 1.7% in early Asian trading following a deadly explosion at a Gaza hospital, heightening tensions in the Middle East ahead of US President Joe Biden’s visit. A summit between Biden and leaders of Jordan, Egypt, and the Palestinian Authority was canceled as the US president seeks to prevent further
ASX up 0.13% as oil prices surge Read More »
