The Australian share market experienced a downturn, led by declines in the mining and energy sectors. Uranium stocks faced significant pressure following AMD’s latest results. Conversely, ResMed showed resilience, rallying against the broader market trend. Beach Energy provided a positive note, surpassing expectations in its recent performance update.
In other company news, JB Hi-Fi has announced the launch of its new retail media network, signalling a strategic move to enhance its advertising capabilities and customer engagement. Meanwhile, Elders has appointed a new CEO, setting the stage for a fresh chapter in the company’s leadership.
In other news, Maas Group, an ASX-listed company involved in civil construction, engineering, and mining services, has divested its building materials division for $1.7 billion. Following this sale, the company has acquired a $100 million stake in Firmus, an AI factory start-up founded by Oliver Curtis, marking a significant shift towards artificial intelligence investments. Elsewhere, discussions surrounding Linfox’s succession plans are underway due to Peter Fox’s unexpected break.
