ASX 200 Stretches Momentum, Up 3.6% on Week
The ASX 200 has begun the week with three consecutive green sessions, adding 0.27% on Wednesday to 9,153.20 in a broad show of strength. Can today’s session stretch that rally into a fourth day? The bluechip index has built some momentum of late, adding 3.6% over the past week and 5% in the past four,…
Sovereign Gold Vault Launches In Singapore: What This Means
Singapore has launched a state-backed gold vaulting facility and unveiled a sweeping package of tax incentives, marking its most ambitious attempt yet to carve out a meaningful share of the global bullion market from established Western centres. Gold prices continue to hover around $4,000 per ounce, coming substantially off highs, even as forecasts for next…
PLS Shares Enjoy Relief Rally, As Support Steps In
PLS shares (ASX: PLS) added 6.53% today to close at A$3.10, as a new support level, likely short-covering and renewed interest in lithium names pushed the stock to its highest level in nearly a month. The move builds on what has been an impressive week of trading for PLS, which has now gained 19.2% over…
IDP Education Shares Jump Following Latest Takeover Bid: Here’s The Latest
IDP Education shares (ASX: IEL) enjoyed a strong day in the markets, offering up some relief for long suffering holders, adding 16.29% to close out at A$2.57. The move came as private equity giant Blackstone lobbed a sweetened, unsolicited takeover proposal of A$3.00 per share in cash, pushing IEL to A$2.84 intraday before cooling a…
Domino’s Pizza Shares Hold Steady, As Sales Declines Slow
Domino’s Pizza Enterprises (ASX:DMP) delivered a cautiously encouraging trading update at its Annual General Meeting today, revealing that the pace of same-store sales declines is meaningfully slowing across its global network. For a stock that has been one of the ASX’s most volatile large-cap names in recent years, the muted market reaction may itself be…
Elevra Lithium Shares Continue To Bounce Off Lows, Up 33% In A Week
Elevra Lithium shares (ASX:ELV) added 9.70% today to close at A$4.07, extending a run that has seen the stock bounce more than one-third (+33.88%) over the past week of trading. Lithium stocks have been beaten down in recent months, and despite what has been a strong relief rally, a one month decline of 10.75%, and…
Qantas Shares Bounce 21% In Four Weeks, As Relief Rally Gathers Pace
Qantas Airways shares (QAN:ASX) are enjoying a strong rebound over the past month, adding 6.34% on Tuesday to close at A$9.90, up 21.18% in the past four weeks. This latest bounce came as news of a sweeping AI-driven restructuring deal with Accenture and a sharp pullback in global crude oil prices promises meaningful relief on…
Austal Shares Testing Resistance, As Key Level Cleared
Austal shares (ASX: ASB) are testing a critical resistance zone after clearing the 200-day moving average for the first time in months, with a competitive bidding war for its U.S. shipbuilding division and a government-backed infrastructure deal adding fundamental weight to the technical breakout attempt. The Austal share price is coming off a 3.94% gain,…
BHP Shares Back at A$60, Looking For Direction
BHP shares (ASX: BHP) are back testing the A$60 level after a 3.9% weekly bounce, a level that has been almost magnetic throughout much of this year. The BHP share price hit an intraday high of A$60.26 on Tuesday before settling at A$59.87, pushing the stock back above its 200-day SMA amid what has been…
Superloop Shares Move Negative on Year, As Update Disappoints
Superloop shares (ASX:SLC) fell into negative territory on the year, after a 10.18% drop to $2.47 on Tuesday marked SLC as the second worst performer on the ASX 200 for the day. This came off the back of earnings, which once again saw a case of the guidance taking the fore over actuals, which were…
