Gwalia Extension Key To St Barbara Outlook
Expansion activities weighed on the performance of St Barbara’s Gwalia mine in the September quarter but increased production is likely from mid 2020.
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Global Shares Edge Higher In Wary Trade
A soft opening to ASX trading today but the real story will be the pressure on tech stocks like Afterpay Touch, Zip and Wisetech Global.
Read MoreGold, Oil Ease As China Disappoints
Gold and oil futures eased on Friday as the US dollar weakened and China produced soft third-quarter economic data.
Read MoreChina GDP Drops To A Near Thirty Year Low
China’s central bank governor has ruled out any change in monetary policy less than a day after the country’s third-quarter GDP fell to a 6% growth rate – the lowest in almost 30 years.
Read MoreChina Steel Demand Remains Solid In September
China’s monthly crude steel output slid to a six-month low in last month – but that wasn’t due to any slow down in demand but the production curbs introduced to clear the air in Beijing and other major northern cities for the October 1 70th National Day celebrations.
Read MoreAmazon, Boeing Lead US Earnings Week
More than 100 S&P 500 companies are down to report September quarter earnings this week and none will dominate more by two very different groups – troubled airline maker Boeing and online giant, Amazon.
Read MoreHigh Flying Tech Stocks Set Face More Scrutiny
The big test of Australia’s still frothy listed tech sector intensifies from today as investor luvvies like Afterpay Touch, Zip, and WiseTech Global come under renewed pressure from suddenly sceptical traders.
Read MoreDiary: US Earnings, ECB, Brexit Bumbles
At first glance a quiet week for global markets, with Brexit hanging around, worries about the health of the global (and US economies) with mid-month surveys of manufacturing and services to be released and the US third-quarter earnings season which is now well underway.
Read More“Disappointing”: BoQ Earnings Dip With Worse To Come
The Bank of Queensland’s 2018-19 full-year profit drop will turn out to be the canary in banking’s coal mine for the next year or so.
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BHP Joins Rio Tinto With Solid Q1 Update
BHP has joined rival Rio Tinto in maintaining full-year production and sales targets after a solid performance in the three months to September 30.
Read MoreRBA Deputy Pours Cold Water On Housing Rebound
Just when quite a few analysts and economists were getting hot to trot about how the rise in top-end house prices in the past two months marked some sort of turning point for the sector, a bucket full of cold water was thrown into the mix by the second most powerful executive at the Reserve Bank.
Read MoreEmployment Data Holds Up In September
Another OK jobs report for September from the Australian Bureau of Statistics on Thursday showed the labour market continues to withstand the stagnation spreading through cars, retailing, home building and construction.
Read MoreSouth Korea Cuts Interest Rates To Record Low
South Korea’s central bank has again cut its key interest rate as the domestic economy and exports continue to sag.
Read MoreUpbeat Rio Tinto Maintains Iron Ore Forecasts
Rio Tinto has maintained its iron ore shipment forecast for the year at between 320 million and 330 million tonnes meaning that it will end the year as the world’s top iron ore producer and exporter.
Read More“Fundamentally Repositioned”: The Reject Shop Talks Up Turnaround
Did we see a glimmer of light for the embattled retailer, The Reject Shop yesterday, or was it just another shuffling of deck chairs?
Read MorePork Price Pushes China Inflation Higher
China’s consumer price inflation got another pork push higher in September, while deflation tightened its grip on the country’s huge manufacturing sector.
Read MoreLatitude Float Flops For A Second Time
Latitude simply raises its money at lower rates and pockets the gains, not its customers. It overexposed to the stagnating economy and equally exposed to newer forms of consumer finance. And that was poison for big investors this week.
Read MoreSouthern Cross Downgrade Sparks Media Sector Sell Off
The listed Australian media sector took a hammering yesterday when the best performed of the handful of companies – radio and regional TV operator, South Cross Austereo warned of a sharp slowdown in revenue in the first months of 2019-20.
Read More“Challenging”: World Steel Association Warns On China Steel Demand
The World Steel Association is forecasting a sharp slowdown in Chinese crude steel demand in 2020, but at the same time, its reckons demand from other emerging markets will rise to partially offset the Chinese slide.
Read MoreVale Iron Ore Output Down But Not Out
Brazil’s big iron ore miner and exporter, produced 86, 704 million tonnes in the July-September period, up more-than two-thirds from the second quarter as operations resumed at Brucutu, its largest mine in the southeastern state of Minas Gerais.
Read MoreNewcrest Mining Confirms Cadia Gold Mine Expansion
As widely tipped Newcrest has approved the $685 million expansion of its huge and very profitable gold mine, the Cadia mine in central-western New South Wales.
Read MoreNick Scali Pins Hopes On Housing Recovery
Shares in Nick Scali, plunged sharply yesterday to a four-month low after the company issued a profit warning two weeks before the company’s AGM.
Read MoreCommodity Imports Paint More Mixed View Of China
While China’s imports fell for a fifth month in a row in September, figures for some key commodities told a different story.
Read MoreChina Trade Data Shrinks Again In September
September was another weak month for China’s trade – exports fell at a faster pace than forecast last month while imports fell for a fifth straight month.
Read MoreLukewarm Reception Forces Latitude To Reprice IPO
As many analysts and investors predicted, the float of US-controlled Latitude Financial is not going well – so much so that the offer price and the size of the offering have been cut only five days before its planned listing this Friday.
Read MoreSantos Seals Deal For ConocoPhillips LNG Assets
Energy producer Santos has announced its second big acquisition in just over a year with the news that it will acquire ConocoPhillips’ Northern Australia assets for $US1.39 billion ($A2.05 billion).
Read MoreASX Eyes Trade Truce Boost
The ASX 200 is looking a solid gain this morning after Wall Street ended Friday’s session up more than 1% on reports that China and the US had reached some sort of partial deal in their ongoing trade dispute.
Read MoreWall St Shifts Gears From Trade To Earnings
So assuming Donald Trump doesn’t blow up the partial trade deal with China with one of his ill-advised tweets or comments, what will Wall Street do?
Read MoreRetail Food Group Unveils Rescue Package
A last throw by embattled Retail Food Group (RFG) – it wants to raise a total of $160 million mostly through a huge expansion in the number of shares on issue that will, in turn, dilute existing shareholders if they do not participate.
Read MoreAll Eyes On Netflix As US Earnings Resume
While the US third-quarter earnings season kicks off this week with reports from six of America’s biggest banks, the most important set of figures for the three months to June will come from Netflix.
Read MoreGold Prices Slip As Geopolitical Worries Ease
Gold futures fell on optimism about a partial agreement in US-China trade talks and talk of progress on Brexit.
Read MoreOil Rises Despite IEA Cuts To Demand Growth Forecasts
While oil prices climbed Friday to notch up a weekly gain of nearly 4%, the International Energy Agency again cut its demand estimates for 2019 and 2020, news that was ignored by traders for the time being.
Read MoreDiary: RBA Minutes, Chinese GDP, US Retail Sales
China’s economic health will be the major focus for global markets this week, along with the reported partial settlement of the trade dispute with the US.
Read MoreInvestors Sceptical On AMP Plan To Merge Banking, Wealth
AMP will merge its bank and Australian wealth unit as part of another shake-up of its structure ahead of the deal to spin off its life insurance arm. The market, however, appears unconvinced.
Read MoreOrora Soars On The Back Of Nippon Paper Sale
Back in August, shares in packaging group Orora fell 17% after revealing weak earnings for 2018-19 and a weak outlook. Yesterday, the company got most of that back when it revealed it had sold a part of its Australian operations to a Japanese company for a gross $1.7 billion, with news that most of the money will go back to shareholders in some sort of capital management.
Read MoreBrambles Packages Solid Quarter Despite Global Gloom
For a company dependent on the health of the global economy, the current slowdown and Donald Trump-inspired volatility doesn’t seem to have hurt logistics giant, Brambles, all that much judging by its third-quarter update yesterday.
Read More“Unrest And Uncertainty”: Flight Centre Strikes Turbulence
Travel groups are finding it hard to get airborne early in the 2019-20 financial year. Webjet got caught by the collapse of UK group, Thomas Cook with $43 million of likely losses, now Flight Centre, the sector’s biggie, yesterday slipped out a forecast of lower first-half earnings and the shares hit turbulence and slumped more than 13%.
Read MoreAFIC Sale Pressures AMP Shares To New All-Time Low
Shares in wealth manager AMP fell to new lows yesterday for the embattled wealth manager. The latest selling came on news that one of Australia’s largest investment houses, the Australian Foundation Investment Company (AFIC), has sold its stake in the company.
Read MoreCleanaway Swoops On Victorian Recycler SKM
Cleanaway Waste Management has ‘cleaned’ up by agreeing to buy the collapsed Victorian recycling assets of SKM for $66 million.
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