Megaport Shares Push Back Above A$14 With Earnings Moving Closer
Megaport shares (ASX: MP1) pushed higher today, adding 6.28% on what was a difficult day for Aussie markets, with the blue-chip ASX 200 pulling back 0.79%. Today’s move pushed MP1 back above A$14 and comes having seen the stock correct 10% from the rally, before seeing buyers step in. This can be a healthy sign…
NAB Shares (ASX:NAB) Hit Resistance As Markets Take Pause
National Australia Bank shares (ASX: NAB) are facing headwinds, pulling back after encountering persistent resistance at the A$40 level. The stock closed at A$38.27 today, a 3.38% drop on the day, having recently struggled to break through this psychological and technical barrier. While NAB has delivered a 2.77% increase since the start of the year,…
Rio Tinto Shares Firmly Off Lows, Mild Gain on Strong Q2 Production
Rio Tinto’s Q2 production report, released today, reveals bauxite production at 15.6 million tonnes, a 5% increase compared to the same period last year, marking the second consecutive quarterly production record. Alumina production also saw an impressive 8% year-over-year increase, reaching 1.8 million tonnes. The standout performer was mined copper, which surged by 15% to 229,000 tonnes, primarily…
Reece Shares Find Footing at A$13 Slowing Downturn – Could Support Be Found?
Reece Ltd shares (ASX:REH) have endured a brutal stretch, with its share price down 41% since the start of this year. The shares carved out a fresh 52-week low of A$12.93 today, before staging a modest recovery to close at A$13.28, a 0.61% gain on the day. This question as to whether the A$13 level…
Paladin Energy Shares (ASX:PDN) Rally: Is a Bullish Pattern Emerging?
Shares of Paladin Energy (ASX: PDN), the uranium mining company, experienced a notable surge today, climbing 7.15% to close at A$7.64. This positive movement follows a volatile period for the stock, marked by both significant gains and recent pullbacks. The day’s gains offer a respite after difficult start to the month, with PDN down 11.65%…
Unico Silver Shares Hit New Heights on La Negra Drill Results
Unico Silver shares (ASX: USL) have been capturing headlines, with the price moving to new multi-year high, closing at A$0.425, a hold of the high coming after an impressive 28.8% increase to start the week. The surge, fueled by exceptionally promising drill results from the La Negra prospect within the Joaquin Project in Argentina, reflects…
South32 Shares (ASX:S32) Drop 5% – Mozal Impairment Fears Dominate The Day
South32 shares (ASX:S32) came under increasing scrutiny today as its price fell 5.14%, on an announcement regarding a potential impairment at its Mozal Aluminium smelter in Mozambique. This latest dip compounds existing anxieties, bringing the stock’s year-to-date decline to nearly 15% and raising questions about the company’s near-term outlook leading into financial results. The primary…
DroneShield Shares (DRO) Close At Record Highs on Expansion News
DroneShield shares (ASX:DRO) are the darling of the ASX today, soaring to an all-time high of $3.24 at the close, for an impressive 16.97% jump on the day. Whilst momentum has been strongly building in recent months, the catalyst for today’s surge is DroneShield’s announcement of a significant $13 million investment in a new 3,000sqm production…
Xero Share Price (XRO) Enters Correction Territory
Xero share price (ASX:XRO) has dropped 1.46% today, bringing XRO into correction territory. Closing at A$173.83, Xero’s stock is down more than 10.5% from its recent high in late June. A pullback after a bullish run can be healthy, yet questions need to be asked as to whether this is likely to be a short…
Lynas Rare Earths Shares (ASX:LYC) Make New High
Lynas Rare Earths shares (ASX:LYC) are once again at the forefront of Aussie markets, with its share price exhibiting renewed momentum. LYC trades at A$9.67, marking a 16.65% gain on the day, with a new high of A$9.96 hit early in the session. The resurgence of LYC shares is linked to the escalating global concerns…
