National Australia Bank Shares (ASX: NAB) Up At Multi-Year Highs
National Australia Bank shares (ASX: NAB) continue it’s bullish momentum, with 1.04% gains on the day bringing the YTD appreciation to 22.39%. With the stock closing out the day at 37.77, this marks out new 52 week highs, and levels not seen since 2008.. This impressive milestone underscores the bank’s robust standing in the ASX…
CBA Overtakes BHP as Largest Market Cap firm on ASX
In a significant shift in the Australian stock market, the Commonwealth Bank of Australia (CBA) has surpassed BHP to become the most valuable company listed on the Australian Securities Exchange (ASX). This change marks a noteworthy development in the financial landscape, reflecting contrasting fortunes of two of Australia’s most prominent companies. With BHP’s downturn amounting…
ASX Miners Continue Downward Trend
Large cap miners are sitting in negative territory on the year, with BHP down 14%, RIO 14.47%, and Fortescue (FMG) 23.14% in the red YTD. Mining shares on the ASX 200, including industry stalwart BHP Group Ltd (ASX: BHP), experienced significant downturns on Tuesday, in part influenced by the release of disappointing second-quarter results from…
Rio Tinto Eyes $32 Billion Teck Resources Takeover
In a significant move that could reorient the global mining landscape, Anglo-Australian mining titan Rio Tinto (ASX: RIO) is understood to be considering a takeover of Canadian mining heavyweight Teck Resources (NYSE: TECK). With a mooted value exceeding $30 billion, and possibly reaching as high as $32 billion, this potential acquisition is poised to become…
Zip Co Shares (ASX: ZIP) Shed 7% as Company Rejoins ASX 200
Zip Co shares (ASX: ZIP), the renowned buy now pay later (BNPL) provider, have experienced a decline on Monday’s trading session. Despite the news of the company’s return to the ASX 200 index, investors witnessed the share price drop by 7.08% to a price of $1.58. This takes more than $100million off the market of…
CSL Shares (ASX:CSL) Hit New 52-Week High On Strong Day For ASX 200
Shares of CSL Ltd (ASX: CSL), one of Australia’s leading biotechnology companies, have soared to a new 52-week high, marking a significant milestone. Today, the ASX 200 Index also achieved a record pinnacle, hitting an all-time high of 8,037.3 points, with shares across the board, including those of CSL Ltd, climbing by 0.73%. CSL Ltd,…
BHP Pauses Nickel Mines in Market Downturn
BHP Group (ASX: BHP), the world’s largest miner, has decided to halt operations at its nickel mines in Western Australia. This decision, scheduled to commence in October, is a strategic response to the steep decline in nickel prices coupled with a global surplus of the commodity. This suspension is set to impact BHP’s Nickel West…
ASX 200 & All Ords Gain Strongly – Rally Boosted by Telstra
Australian markets experienced a significant rebound on Tuesday as theASX200 surged by 66.50 points, a boost of 0.86%, to settle at 7,829.70. This upswing effectively wiped out the losses from Monday, indicating a renewed investor confidence across various market sectors. The All Ords ended the day at 8075, up 0.79%. One of the standout performers…
Bapcor Shares (ASX: BAP) Unmoved After Buyout Offer Rejected
In a significant turn of events, Bapcor, the renowned car parts retailer and distributor listed on the Australian Stock Exchange under the code ASX: BAP, has made two critical announcements that are likely to shape the company’s future trajectory. Bapcor has revealed the appointment of a new CEO and Executive Chair, Angus McKay, effective from…
Indonesian Firm MACH Metals Buys Rex Minerals
Indonesia-based MACH Metals Australia (NYSE:MNR) is set to acquire Rex Minerals (ASX: RXM) for A$393 million ($265 million). Rex Minerals currently owns Australia’s largest shovel-ready copper project; this acquisition highlights the significant interest in copper resources aligned with the growing demand attributed to clean technology and expanded electric grids. MACH Metals Australia, which is a…
