IAG Shares Hit New High as AI Use Cases Drive Efficiencies
IAG’s shares (ASX: IAG) closed out up at multi year highs of $8.64, having earlier got as high as $8.69 in the session. The stock has now gained 55.68% on a YTD basis, making it a significant outperformer in the ASX. One driver of performance is coming from the significant strides IAG is making by…
Wesfarmers Shares Continue Upward as Leadership Shuffle Announced
Wesfarmers shares (ASX: WES) continue on an upward path, gaining 1.32% on the day to bring the cumulative 1 month return to 11.84%. Now with WES looking intent to retest the 52 week highs of $77.20 set back in August, a leadership reshuffle is looming. The firm recently announced significant changes in its leadership structure,…
Northern Star Resources Share Price Target Trimmed
Northern Star Resources shares (ASX: NST) are coming off a 5 day decline of 8.03%, having earlier set about looking to retest the $18 level. With the second attempt to pass this resistance failing, the focus moves back to fundamentals after a recent buyback reduced the float. In other news, RBC Capital Markets cut it’s…
Allianz Australia Finalizes A$642 Million Deal with RAA
Allianz Australia has entered into a significant partnership with the Royal Automobile Association of South Australia (RAA) through a transaction valued at A$642 million (US$416 million). This strategic move involves the purchase of RAA’s general insurance business and secures an exclusive 20-year distribution agreement, focusing on home and motor insurance products. Allianz Global shares in…
COSOL Shares Gain (COS) as Toustone Acquired for $22.4 Million
COSOL shares (ASX:COS) gained 5.73% in trading today, as the company announced its acquisition of Toustone Pty Ltd, a data analytics company based in Australia, for an amount of up to $22.4 million. This strategic move underlines COSOL’s intent to amplify its capabilities in asset management and data analytics and moves the share price green…
Westpac Banking Corporation (ASX: WBC)
Company Information Westpac Banking Corporation (ASX: WBC) Westpac Banking Corporation is an Australian bank offering various services including consumer, business, and institutional banking, as well as wealth management. The company is divided into three main segments. The Consumer Banking and Wealth segment caters to individuals, delivering a variety of financial services. The Institutional…
ANZ Forecasts Rate Hike Delay to 2025
ANZ Bank (ASX: ANZ) has made a significant shift in its interest rate forecast, now indicating that the Reserve Bank of Australia (RBA) may not lower interest rates until May 2025. This adjustment brings ANZ’s prediction in line with its peers among the nation’s largest banks, including the National Australia Bank and Westpac, presenting a…
All Ords, & ASX 200 Hits New High
The Aussie share market set new benchmarks today, reaching an all-time high on both the ASX 200, and the All Ords, as gains in the healthcare and finance sectors bolstered investor sentiment. The ASX 200 Index added 0.45%, finishing the day at 8444.3 points, as the All Ords closed out exactly at 8,700 for a…
CBA Shares Pull Back From Highs as Price Discovery Continues
The Commonwealth Bank of Australia share price (ASX: CBA) pulled back 3.55% today, having initially failed to hold the break above $160. With CBA coming off new all-time-highs, a period of price discovery can be healthy, and can often take place around psychologically relevant levels. The rounded $160 number seems to be where the next…
Peabody (NYSE: BTU) Secures Anglo American’s (LON:AAL) Australian Coal Assets
In a significant transaction within the coal industry, US-based Peabody Energy (NYSE: BTU) has negotiated the purchase of Anglo American’s (LON:AAL) steelmaking coal mines in Australia. The deal, amounting to US$3.8 billion (A$5.8 billion), marks a major expansion of Peabody’s operations and reinforces its position in the coal market. The acquisition encapsulates a strategic shift…
