Australia’s economy demonstrated resilience with a 0.6 percent growth in the fourth quarter of last year. However, this positive economic data was overshadowed by a midday slump in the Australian sharemarket (ASX). The market neared a one percent loss as investors grappled with uncertainty surrounding potential US tariffs and the implications of new stimulus measures introduced in China. Notable declines were seen in major retailers, with Coles dropping 3 percent and Woolworths falling 2.6 percent.
Simultaneously, significant shifts are occurring within the Australian corporate landscape. Virgin Australia has appointed Dave Emerson as its new Chief Executive Officer, replacing Jayne Hrdlicka. This leadership change coincides with the airline posting record results, signaling a potentially new strategic direction. In the mining sector, Antipa has secured full ownership of the Wilki Gold Project in Western Australia, expanding its exploration access.
