Commodities Corner: Bubbling Crude
Oil markets are stabilising at the highest level of the year – up 70% since January and more than 100% year-on-year – and are virtually the only bright spot on the commodities horizon at the moment.
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Earnings Round-Up: Facebook Ushers in Peak Season
Intel and Snap pulled the Nasdaq lower on Friday, setting up questioning week for the third quarter earnings season that will be put to an immediate test when Facebook reports its latest results.
Read MoreMonday Market Minutes: Upbeat Street Sets the Tone
For markets supposedly worried about a host of varied concerns, American investors in particular are remarkably optimistic, pushing the Dow and S&P 500 to new record highs last week.
Read MoreDiary: While My Portfolio Gently Weeps
There’s a lot for markets to grapple with this week here and offshore, with inflation and bank earnings set to dominate locally and a raft of economic news the global focus.
Read MoreSolGold the Forgotten Play in the Copper Space
There is one copper play Australian investors seem to have forgotten about – one which BHP and Newcrest are all over – and it could very well change the future global supply / demand equation for the red metal.
Read MoreIt’s Death by a Thousand Cuts for China Right Now
While they seem to have been hogging most of the attention, Evergrande and the property sector aren’t the only problem besetting China at the moment. In fact there’s a veritable siege of adverse circumstances currently at play.
Read MoreRenewed Pressure on Prices Hits Iron Ore Majors
After several days of going nowhere, news from China sent iron ore prices lower on Thursday, just as some of the big boys revealed cuts to output due to the uncertain global outlook for 2022.
Read MoreAurizon Makes $2bn Play for OneRail Australia
Aurizon today announced it had signed an agreement with Macquarie Asset Management, on behalf of its managed funds and client, to acquire One Rail Australia (ORA) for $2.35 billion.
Read MoreSnap, Crackle and Pop
Snap shares plunged 30% at one stage in after-hours trading after revealing a reasonably solid set of September quarter numbers, as one major negative sparked concerns about social media companies.
Read MoreThe Never-Ending Evergrande Saga Rolls On
Fears seem to be growing in Chinese government circles about the fate of China Evergrande, with sentiment not helped by a couple of smaller listed developers revealing worrying debts and losses as well.
Read MoreSantos and Woodside Positively Gushing
With global oil and LNG prices surging in the Sep quarter, no surprise the country’s two leading independent producers – Woodside and Santos – reported big jumps in revenue and earnings.
Read MoreImproved Guidance for BlueScope on Steel Surge
The steel business continues to buoy the earnings of BlueScope, with higher demand on both sides of the Pacific – Australia and the US – leading to an increase in the company’s December half forecast.
Read MoreSouth32 Comes Back to Earth as Production Dips
Just a week after revealing a huge South American copper move valued at $2.8 billion, South32 revealed a 15% slide in hard coking coal production – mostly at its mines south of Sydney.
Read MoreTesla Tops Earnings Expectations
Like Netflix the day before, Tesla has surprised by topping market forecasts in yet another sign that America’s megatechs are doing well, thank you.
Read MoreRio Accelerates Emissions-Reduction Agenda
Rio Tinto has announced that it will triple its climate ambitions by aiming to cut slash emissions by 50% by 2030 at a cost of at least $US7.5 billion (more than $A10 billion) over the next eight years.
Read MoreLockdown Reality Bites Traditional Retail
Unlike a year ago when it was clear retailing was doing very well in the rebound from the first wave of the pandemic (especially online during the shutdown), this time around it’s a very mixed bag.
Read MoreMarket Uninspired by Flight Centre Buzz
Despite revealing that it is selling more international tickets than domestic ones for the first time since the start of the pandemic, Flight Centre saw 4% carved off its share price in Wednesday’s trading session.
Read MoreUpbeat Updates from OzMin and Evolution
Things are bubbling along quite nicely for two local resource companies, with Oz Minerals lifting its full-year guidance and Evolution Mining beating expectations on both an earnings and cost basis.
Read MoreIll-Timed Stagnation Hits Chinese Property
More problems at the worst time for the Chinese property sector, financial system and wider economy with no growth in house prices in September for the first month in more than a year.
Read MoreNoront Bidding War Continues as BHP Ups Offer
A day after would-be Canadian nickel miner Noront Resources chose the higher offer 70 cents a share (Canadian) from Andrew Forrest’s Wyloo Metals, BHP has hit back with a higher offer of its own.
Read MoreKogan Shares Jump on Overstock Relief
Online retailer Kogan seems to have used some old-fashioned bricks and mortar retailing skills to slash the size of its stocks of unsold goods.
Read MoreSquid Game Helps Netflix in the Quid Game
Helped by record viewing numbers across the platform for South Korean sensation Squid Game, Netflix added an above-estimate 4.36 million
new subscribers in the September quarter,
Iron Ore Exports Remain Weak for BHP
BHP has joined rival Rio Tinto in revealing a weak performance in its core Australian iron ore export operation in the Pilbara, failing to match last year’s output for the third consecutive quarter.
Read MoreTabcorp Shareholders to Foot Demerger Bill
Shareholders in gambling giant Tabcorp face a bill in the hundreds of millions of dollars for the company’s management’s desire to demerge its lotteries and Keno businesses from wagering and media.
Read MoreSupply Chain SNAFUs Stymie Brambles
Multinational logistics group Brambles has warned that supply chain issues across its global businesses could potentially hit its earnings forecasts for the current financial year.
Read MoreStar-Crossed Yet Again as Dividend Withheld
Shareholders in casino operator Star Entertainment Group will again go without while the company continues to trade with its financiers, with the 2021-22 interim dividend withheld.
Read MoreHDN No REIT Petite with Aventus Takeover
HomeCo Daily Needs (HDN) real estate investment trust (REIT) is set to become a $3.2 billion operation under a proposed takeover of rival Aventus that values them at $3.82 per share.
Read MoreAristocrat Set to Take Massive UK Gamble
Poker machine and technology group Aristocrat Leisure is asking shareholders for $1.3 billion to help fund a massive $5 billion purchase of UK-listed global gambling software group Playtech.
Read MoreOnline Sales Help Temple & Webster Continue to Flourish
More upbeat news from retailing with emerging online furniture and homewares operator Temple & Webster again confirming that the Covid lockdown has been very good for business.
Read MoreChinese Economy Verging on Basket Case Territory
China’s economy turned ugly in the three months to September as growth weakened sharply, only serving to magnify concerns about problematic sectors such as steel and property.
Read MoreGPT Continues Shift into Logistics
GPT is continuing its shift away from CBS office towers and destination shopping malls, expanding its push deeper into logistics to $4.1 billion.
Read MoreDiary: Easy Like Monday Morning
Despite plenty of important economic data coming out this week, it will be the further easing of restrictions, as well the finalisation of the Morrison government’s carbon reduction policy, that will be front and centre.
Read MoreDay of Reckoning for Chinese Economy
A big day today for the Chinese economy and its growth path into 2022, with the release of key economic growth figures, plus investment, retail sales and industrial production data.
Read MoreCommodities Corner: Copper All the Rage Again
Investors last week renewed their love affair with copper after several months of indifference, with most other commodities – iron ore being the main exception – coming along for the ride.
Read MoreMonday Market Minutes: Born to Run
Will this week see a continuation of Friday, when shares surged globally for what turned out to be the best day in five months to finish off a strong week for most markets and commodities?
Read MoreEarnings Round-Up: Techin’ it to the Street
After the solid, bank-dominated start to the US third quarter earnings season last week, there’s a more testing set of releases this week with figures from Netflix and Tesla, among others.
Read MoreNickel 2.0 a Happy Passenger on the Renewables Wagon
Like copper, the surge in renewables is changing demand for nickel for the better, with global primary nickel demand forecast to be 25% higher by the end of 2022 than it was in 2020.
Read MoreUS Major Banks Set the Table for Strong Earnings Season
Week one of the US third quarter reporting season and a series of solid results from major banks seem to be setting it up for a better-than-expected outcome, with some big names up next.
Read MoreNo Signs of a Resolution to Chinese Steel Blues
For all those stubbornly optimistic investors, analysts and company executives still looking for a solid year for the huge (and usually hungry) Chinese steel industry – think again.
Read MoreASIC Takes a Run at IAG / NRMA
Insurance Australia Group faces legal action from corporate regulator ASIC over claims it failed to honour discount promises made to nearly 600,000 customers of its NRMA Insurance.
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