Questions Linger as Boral Bid Nears Completion
Kerry Stokes and Seven Group have less than a week to go on their $8.5 billion bid for Boral but questions continue about the financial health of the post-bid group.
Read More
Higher Claims Hit IAG Bottom Line
Insurance Australia Group posted a net loss of $427 million in the year, after it was hit by higher claims – both in the short- and long-term – and overall costs and provisions.
Read MoreRio Still World’s Top Ore Producer
Rio Tinto retained its top ranking in the global iron ore export stakes – by the narrowest of margins in the three months to June – just 200,000 tonnes.
Read MoreTwitter, Snap Deliver the Goods
Generally it’s the megatechs that gather all the publicity but on Thursday two of the lesser lights – Twitter and Snap – stepped up to the plate and whacked a couple of home runs.
Read MoreStar Folds on Crown Deal
Crown Resorts and its biggest shareholder James Packer face growing uncertainty about its future value, with rival casino group Star Entertainment dropping its $12 billion deal.
Read MoreNickel Worth a Dime for BHP and Tesla
After years of being seen as a high cost, high priced commodity with few growth prospects, nickel has moved to become part of BHP’s ‘green’ appeal – and they have the deal with Tesla to prove it.
Read MoreAnother Record for Oz Trade Surplus
Thanks to record prices and demand for iron ore – especially from China – Australia’s goods trade surplus hit a new peak of $13.3 billion, the second successive month that it has topped $13 billion.
Read MoreRecord Revenue, Upped Guidance for Santos
In its June quarter report yesterday, Santos announced sales revenue hit a record $US1.1 billion, taking it to a record-breaking $US2.04 billion over the six months to June 30.
Read MoreLynas Spikes on Rare Earth Grant
Shares in Lynas jumped more than 9% yesterday after revealing it had won an Australian government grant to commercialise an industry-first rare earth refining process at its planned WA plant.
Read MoreEvolution Continues Expansion with Kundana Deal
Days after confirming its $1 billion Cowal expansion, Evolution has revealed a $400 million transaction to turn its Mungari mine into a ‘cornerstone’ asset in a deal with rival Northern Star Resources.
Read MoreTelfer, Cadia Help Newcrest Soar to Glittering Year
Australia’s biggest gold miner Newcrest Mining had a good 2020-21 as its gold and copper production reached guidance targets in the year to June, with Telfer and Cadia leading the way.
Read MoreZipping Along Quite Nicely
Zip Co had a very good June quarter judging by the latest figures from the company on Thursday, as revenue doubled in the quarter compared with last year led by a further surge in its US business.
Read MoreBHP Reportedly Mulling Oil and Gas Withdrawal
BHP wouldn’t comment on the claims made by Bloomberg on Wednesday morning that they were reviewing their petroleum business and considering options including a trade sale.
Read MoreLendlease Sails Services Unit Downstream
Another asset sale by Lendlease, as the company yesterday revealed it was offloading its services unit to Service Stream for $295 million in cash and $15 million in debt.
Read MoreLockdowns + Weak Retail Data = GDP Downgrades
Falling retail sales and the new lockdowns across NSW, Victoria and South Australia have seen economists downgrade their forecasts for September economic growth to negative readings.
Read MoreCIMIC Keeps Div Promise Despite Earnings Dip
Spanish-controlled contractor CIMIC has reinstated its interim dividend despite a dip in earnings for the six months to June, declaring it will pay a partially-franked 42 cents a share.
Read MoreSouth32 Takes $1bn Hit on Illawarra
South32 has revealed plans to write-down nearly $A1 billion worth of value from its Illawarra hard coking coal export business in its 2020-21 annual results next month.
Read MoreSpire Rebuffs Ramsay Offer
Ramsay Healthcare’s big plunge into the UK private hospital sector has ended after shareholders in its target, Spire Healthcare rejected the deal.
Read MoreNetflix Strong, Just Not Strong Enough
While solid enough, Netflix’s result won’t provide the confidence-boosting surge in momentum Wall Street has been looking for after earnings from the big banks fell flat last week.
Read MorePlenty of Arrows in BHP’s Quiver
While BHP shipped a record amount of iron ore from its Pilbara mines in the year to June, the performance of its coking coal, copper, oil and gas and nickel businesses also stood out.
Read MoreRecession? What Recession?
According to the official body responsible for such declarations, America’s Covid recession lasted just two months from February to April 2020, making it the shortest on record.
Read MoreSantos Confirms Oil Search Interest
After Oil Search admitted on Tuesday morning it had recently rejected a takeover approach, Santos issued a statement revealing its proposed $4.25 per share offer.
Read MoreBuyback Helps ANZ Buck Trend on Soggy Tuesday
Shares in ANZ Bank were the only ones to rise in today’s lite sell-off, which shouldn’t surprise given it is the only one so far wanting to give money back to shareholders.
Read MoreGlobal Selloff on Delta Concerns
World markets sold off heavily on Monday as the number of Delta variant infections swelled to worrying levels in the US, Australia, UK, Japan, and other parts of Asia and Africa.
Read MoreANZ Announces Surprise $1.5bn Buyback
The ANZ Bank has surprised the market by revealing a $1.5 billion buyback on Monday night, declaring it would not affect the bank’s ability to support pandemic-affected customers.
Read MoreHedland Sees Sharp Fall in Ore Shipments
Iron ore exports to China through Port Hedland, the world’s biggest port, fell more than 6% in the six months to June thanks to a sharp slide in final three months of the half.
Read MoreFour Mini Bytes from the Tech Sector
Four Australian techs had varying experiences in yesterday’s ASX trading session, with releases from hummgroup, Empired, Altium and Data #3 receiving the gamut of responses from traders.
Read MoreDjerriwarrh Makes Good on Final Payout
Melbourne-based Listed Investment Company Djerriwarrh Investments lifted its final dividend to soften the impact of a lower interim dragging down its full year payout to shareholders.
Read MoreAPRA Urges Banks to Do Right by Customers
APRA has moved quickly to support banks who defer or offer support to customers who are in difficulties in the Sydney and Victorian Delta variant lockdowns.
Read MoreTelstra in Talks for Tropical Tilt
Telstra has confirmed that it is in talks with the Federal government on a joint bid for some key telco assets in the South Pacific that could frustrate China’s efforts to snatch the mobile phone assets of Digicell.
Read MoreOPEC+ Talks Finally a Gusher
After more than two weeks of haggling, OPEC+ ministers have done a deal on a new global production cap that will steady the slide in world prices last week.
Read MoreCommodities Corner: Traders Await OPEC+ Outcome
OPEC+ ministers were due to meet overnight Sunday (Sydney time) to try and break the deadlock on a new output policy between Saudi Arabia and their smaller Gulf rivals the United Arab Emirates.
Read MoreMonday Market Minutes: Weak Street Sets Sour Tone
Once again, ASX traders were left out on a limb as the futures market slumped sharply off the back of a negative day on Wall Street, setting the tone for a tough week ahead.
Read MoreDiary: Delta Causing Helter Skelter
Australia’s Delta Covid-driven lockdowns in Sydney and Victoria will dominate local markets this week, as will the rising infection numbers in Tokyo and elsewhere.
Read MoreEarnings Round-Up: Market Needs a Netflix Fix
Netflix reports its June quarter earnings on Tuesday and analysts are wondering if the streaming giant can turn around the market’s glum sentiment about the June earnings season.
Read MoreDiffering Theories of Evolution
Some good news, a bit of bad, and spending hundreds of millions of dollars didn’t win the minds of investors for Evolution Mining, with the company’s shares losing 5% on Friday.
Read MoreInvestors Left to Drink from the Poisoned Chalice
It is always instructive to watch what a company’s board and management keeps when it decides to spin off assets. So what are we to glean from Chalice Mining’s decision to do just that?
Read MoreElements, Circumstances Undermine Rio
Rio Tinto’s June quarter was a forgettable one to say the very least, with climactic and operational challenges causing them no end of problems and jeopardising hopes of profit growth for the full year.
Read MoreFed Chair Plays Sticky Wicket with Straight Bat
Federal Reserve chair Jay Powell made his second appearance before the US Congress on Thursday but it was one of his predecessors who had a bigger impact late in the day.
Read MoreChina’s Catch-22: Ecology or Economy?
With steel production encroaching upon the government’s output limit but a weakening economy that needs all the help it can get, Beijing faces some tough choices over the second half of 2021.
Read More